Related papers: Dynamically Aggregating Diverse Information
Active learning is usually applied to acquire labels of informative data points in supervised learning, to maximize accuracy in a sample-efficient way. However, maximizing the accuracy is not the end goal when the results are used for…
It is well known that sequential decision making may lead to information cascades. That is, when agents make decisions based on their private information, as well as observing the actions of those before them, then it might be rational to…
We model the joint distribution of choice probabilities and decision times in binary choice tasks as the solution to a problem of optimal sequential sampling, where the agent is uncertain of the utility of each action and pays a constant…
Collective action and group formation are fundamental behaviors among both organisms cooperating to maximize their fitness, and people forming socioeconomic organizations. Researchers have extensively explored social interaction structures…
We study the evolution of information in interactive decision making through the lens of a stochastic multi-armed bandit problem. Focusing on a fundamental example where a unique optimal arm outperforms the rest by a fixed margin, we…
An information cascade is a circumstance where agents make decisions in a sequential fashion by following other agents. Bikhchandani et al., predict that once a cascade starts it continues, even if it is wrong, until agents receive an…
Most research on within-day dynamic traffic equilibrium with information provision implicitly considers travel time information, often assuming information to be perfect or imperfect based on travelers' perception error. However, lacking…
We model endogenous perception of private information in single-agent screening problems, with potential evaluation errors. The agent's evaluation of their type depends on their cognitive state: either attentive (i.e., they correctly…
We study the voting game where agents' preferences are endogenously decided by the information they receive, and they can collaborate in a group. We show that strategic voting behaviors have a positive impact on leading to the ``correct''…
To make decisions we are guided by the evidence we collect, as well as the opinions of friends and neighbors. How do we integrate our private beliefs with information we obtain from our social network? To understand the strategies humans…
I develop a rather simple agent-based model to capture a co-evolution of opinion formation, political decision making and economic outcomes. I use this model to study how societies form opinions if their members have opposing interests.…
We develop an overlapping generations model where each agent observes a verifiable private signal about the state and, with positive probability, also receives signals disclosed by his predecessor. The agent then takes an action and decides…
This paper provides a behavioral analysis of conservatism in beliefs. I introduce a new axiom, Dynamic Conservatism, that relaxes Dynamic Consistency when information and prior beliefs "conflict." When the agent is a subjective expected…
Decisions are often made by heterogeneous groups of individuals, each with distinct initial biases and access to information of different quality. We show that in large groups of independent agents who accumulate evidence the first to…
Prior work has provided strong evidence that, within organizational settings, teams that bring a diversity of information and perspectives to a task are more effective than teams that do not. If this form of informational diversity confers…
A network of agents is considered whose decision processes are described by the quantum decision theory previously advanced by the authors. Decision making is done by evaluating the utility of alternatives, their attractiveness, and the…
In a co-evolutionary context, the survive probability of individual elements of a system depends on their relation with their neighbors. The natural selection process depends on the whole population, which is determined by local events…
Crowdsourcing is now widely used to replace judgement by an expert authority with an aggregate evaluation from a number of non-experts, in applications ranging from rating and categorizing online content to evaluation of student assignments…
We present a novel bilateral negotiation model that allows a self-interested agent to learn how to negotiate over multiple issues in the presence of user preference uncertainty. The model relies upon interpretable strategy templates…
An analyst observes an agent take a sequence of actions. The analyst does not have access to the agent's information and ponders whether the observed actions could be justified through a rational Bayesian model with a known utility…