Related papers: Rational hyperbolic discounting
The Lambek calculus can be considered as a version of non-commutative intuitionistic linear logic. One of the interesting features of the Lambek calculus is the so-called "Lambek's restriction," that is, the antecedent of any provable…
We consider a general problem of finding a strategy that minimizes the exponential moment of a given cost function, with an emphasis on its relation to the more common criterion of minimization the expectation of the first moment of the…
The appropriate discount rate for evaluating policies is a critical consideration in economic decision-making. This paper presents a new model for calculating the derived discount rate for a society that includes different groups with…
We consider an individual or household endowed with an initial capital and an income, modeled as a linear function of time. Assuming that the discount rate evolves as an Ornstein-Uhlenbeck process, we target to find an unrestricted…
We study a simple learning model based on the Hebb rule to cope with "delayed", unspecific reinforcement. In spite of the unspecific nature of the information-feedback, convergence to asymptotically perfect generalization is observed, with…
This paper characterizes differentiable and subgame Markov perfect equilibria in a continuous time intertemporal decision problem with non-constant discounting. Capturing the idea of non commitment by letting the commitment period being…
We analyze the validity of the adiabatic approximation, and in particular the reliability of what has been called the "standard criterion" for validity of this approximation. Recently, this criterion has been found to be insufficient. We…
This paper reveals a trap for artificial general intelligence (AGI) theorists who use economists' standard method of discounting. This trap is implicitly and falsely assuming that a rational AGI would have time-consistent preferences. An…
We study mechanisms for an allocation of goods among agents, where agents have no incentive to lie about their true values (incentive compatible) and for which no agent will seek to exchange outcomes with another (envy-free). Mechanisms…
Originating in evolutionary game theory, the class of "zero-determinant" strategies enables a player to unilaterally enforce linear payoff relationships in simple repeated games. An upshot of this kind of payoff constraint is that it can…
Partnering with a large online retailer, we consider the problem of sending daily personalized promotions to a userbase of over 20 million customers. We propose an efficient policy for determining, every day, the promotion that each…
Adiabatic passage employs a slowly varying time-dependent Hamiltonian to control the evolution of a quantum system along the Hamiltonian eigenstates. For processes of finite duration, the exact time evolving state may deviate from the…
The notion of \emph{envy-freeness} is a natural and intuitive fairness requirement in resource allocation. With indivisible goods, such fair allocations are unfortunately not guaranteed to exist. Classical works have avoided this issue by…
In order to describe the properties of the observed distribution of wealth in a population, most economic models rely on the existence of an asymptotic equilibrium state. In addition, the process generating the equilibrium distribution is…
We study the problem of scheduling periodic real-time tasks so as to meet their individual minimum reward requirements. A task generates jobs that can be given arbitrary service times before their deadlines. A task then obtains rewards…
We study deterministic, discrete linear time-invariant systems with infinite-horizon discounted quadratic cost. It is well-known that standard stabilizability and detectability properties are not enough in general to conclude stability…
We study the problem of fairly allocating a set of $m$ goods among $n$ agents in the asymptotic setting, where each item's value for each agent is drawn from an underlying joint distribution. Prior works have shown that if this distribution…
In economic program evaluation, it is common to obtain panel data in which outcomes are indicators that an individual has reached an absorbing state. For example, they may indicate whether an individual has exited a period of unemployment,…
A gapped quantum system that is adiabatically perturbed remains approximately in its eigenstate after the evolution. We prove that, for constant gap, general quantum processes that approximately prepare the final eigenstate require a…
Proper scoring rules elicit truth-telling when making predictions, or otherwise revealing information. However, when multiple predictions are made of the same event, telling the truth is in general no longer optimal, as agents are motivated…