Related papers: Emergent inequality and endogenous dynamics in a s…
In mainstream neoclassical economics, utility maximization is the only engine of individual action, and the other or the social, if it is modeled for decisions deemed fundamental, it is done as a tacit externality parameter affecting an…
Models of cooperation grounded on social networks and on the ability of individuals to choose actions and partners aim to describe human social behavior. Extensive computer simulations of these models give important insight in the social…
Organisms and ecological groups accumulate evidence to make decisions. Classic experiments and theoretical studies have explored this process when the correct choice is fixed during each trial. However, we live in a constantly changing…
Many complex adaptive systems contain a large diversity of specialized components. The specialization at the level of the microscopic degrees of freedom, and diversity at the level of the system as a whole are phenomena that appear during…
Human behavioural patterns exhibit selfish or competitive, as well as selfless or altruistic tendencies, both of which have demonstrable effects on human social and economic activity. In behavioural economics, such effects have…
In this paper we study the dynamics and ergodic theory of certain economic models which are implicitly defined. We consider 1-dimensional and 2-dimensional overlapping generations models, a cash-in-advance model, heterogeneous markets and a…
Accuracy of economic theories and efficiency of economic policy strictly depend on the choice of the economic variables and processes mostly liable for description of economic reality. That states the general problem of assessment of any…
Incorporating decision-making dynamics during an outbreak poses a challenge for epidemiology, faced by several modeling approaches siloed by different disciplines. We propose an epi-economic model where high-frequency choices of individuals…
Promoting and increasing energy efficiency is a promising method of reducing CO2 emissions and avoiding the potentially devastating effects of climate change. The question is: How do we induce a cultural or behavioural change whereby people…
We introduce a prototype agent-based model of the macroeconomy, with budgetary constraints at its core. The model is related to a class of constraint satisfaction problems (CSPs), which has been thoroughly investigated in computer science.…
Social and economic inequality is a plague of the XXI Century. It is continuously widening, as the wealth of a relatively small group increases and, therefore, the rest of the world shares a shrinking fraction of resources. This situation…
We study consumption behaviour in systems with heterogeneous interacting agents. Two different models are introduced, respectively with long and short range interactions among agents. At any time step an agent decides whether or not to…
An urban planner might design the spatial layout of transportation amenities so as to improve accessibility for underserved communities -- a fairness objective. However, implementing such a design might trigger processes of neighborhood…
Humans have developed considerable machinery used at scale to create policies and to distribute incentives, yet we are forever seeking ways in which to improve upon these, our institutions. Especially when funding is limited, it is…
One of the most important empirical findings in microeconometrics is the pervasiveness of heterogeneity in economic behaviour (cf. Heckman 2001). This paper shows that cumulative distribution functions and quantiles of the nonparametric…
Advances in artificial intelligence often stem from the development of new environments that abstract real-world situations into a form where research can be done conveniently. This paper contributes such an environment based on ideas…
In this paper, we present a novel model to characterize individual tendencies in repeated decision-making scenarios, with the goal of designing model-based control strategies that promote virtuous choices amidst social and external…
Our infrastructure systems enable our well-being by allowing us to move, store, and transform materials and information given considerable social and environmental variation. Critically, this ability is shaped by the degree to which society…
We study dynamic reputation in a social-learning environment where only purchase decisions are observable. A long-lived seller posts a fixed price and chooses costly product quality in each period before interacting with short-lived buyers…
We provide two methodological insights on \emph{ex ante} policy evaluation for macro models of economic development. First, we show that the problems of parameter instability and lack of behavioral constancy can be overcome by considering…