Related papers: Culture and the disposition effect
Every now and then the cultural paradigm of a society changes. Human history can be regarded as a sequence of long periods of cultural stasis punctuated by paradigm shifts that transform culture upside-down over the turn of a few…
We consider a version of large population games whose agents compete for resources using strategies with adaptable preferences. The games can be used to model economic markets, ecosystems or distributed control. Diversity of initial…
We extend to the multi-asset case the framework of a discrete time model of a single asset financial market developed in Ghoulmie et al (2005). In particular, we focus on adaptive agents with threshold behavior allocating their resources…
This study investigates how cross-stock information diffusion, driven by both retail and institutional investors, influences excess comovement in the Chinese retail-dominated market and the U.S. institution-dominated market. Using data from…
Cultural items like songs have an important impact in creating and reinforcing stereotypes, biases, and discrimination. But the actual nature of such items is often less transparent. Take songs, for example. Are lyrics biased against women?…
The Health and Retirement Study is a longitudinal study of US adults enrolled at age 50 and older. We were interested in investigating the effect of a sudden large decline in wealth on the cognitive score of subjects. Our analysis was…
As it is known in the finance risk and macroeconomics literature, risk-sharing in large portfolios may increase the probability of creation of default clusters and of systemic risk. We review recent developments on mathematical and…
Various factors influence why some countries are more open to immigration than others. Policy is only one of them. We design country-specific measures of openness to immigration that aim to capture de facto levels of openness to…
We present a new model for the diffusion of innovation. Here, the population is segmented into distinct groups. Adoption by a particular group of some cultural product may be inhibited both by large numbers of its own members already having…
Twitter is one of the most used applications in the current Internet with more than 200M accounts created so far. As other large-scale systems Twitter can obtain enefit by exploiting the Locality effect existing among its users. In this…
We show that if the exposure and the outcome affect the selection indicator in the same direction and have non-positive interaction on the risk difference, risk ratio or odds ratio scale, the exposure-outcome odds ratio in the selected…
Because human cognition is creative and socially situated, knowledge accumulates, diffuses, and gets applied in new contexts, generating cultural analogs of phenomena observed in population genetics such as adaptation and drift. It is…
An important issue within the present economic crisis is understanding the dynamics of the public debt of a given country, and how the behavior of average consumers and tax payers in that country affects it. Starting from a model of the…
This exploratory study examines which investing characteristics determine success in an equity market. Based on data from 403 respondents, exploratory factor analysis results in 13 factors: middle/long time horizon, qualitative analyst,…
Dunnell's (1989) explanation for cultural elaboration proposed that elaboration could be a consequence of selection within uncertain environments. He developed the theory to the extent that it performed well explaining the distribution of…
(shortened version) Religions and languages are social variables, like age, sex, wealth or political opinions, to be studied like any other organizational parameter. In fact, religiosity is one of the most important sociological aspects of…
Algorithms have an increasing influence on the music that we consume and understanding their behavior is fundamental to make sure they give a fair exposure to all artists across different styles. In this on-going work we contribute to this…
We study the market selection hypothesis in complete financial markets, populated by heterogeneous agents. We allow for a rich structure of heterogeneity: individuals may differ in their beliefs concerning the economy, information and…
As the deployment of large language models (LLMs) expands, there is an increasing demand for personalized LLMs. One method to personalize and guide the outputs of these models is by assigning a persona -- a role that describes the expected…
Religiosity is one of the most important sociological aspects of populations. All religions may evolve in their beliefs and adapt to the society developments. A religion is a social variable, like a language or wealth, to be studied like…