Related papers: Optimal Group Size in Microlending
We study the problem of fairly allocating indivisible goods to groups of agents. Agents in the same group share the same set of goods even though they may have different preferences. Previous work has focused on unanimous fairness, in which…
We study the role of imitation within the Minority Game model of market. The players can exchange information locally, which leads to formation of groups which act as if they were single players. Coherent spatial areas of rich and poor…
When a population is engaged in successive prisoner's dilemmas, indirect reciprocity through reputation fosters cooperation through the emergence of moral and action rules. A simplified model has recently been proposed where individuals…
When a loan is approved for a person or company, the bank is subject to \emph{credit risk}; the risk that the lender defaults. To mitigate this risk, a bank will require some form of \emph{security}, which will be collected if the lender…
This paper focuses on the coordination of a large population of dynamic agents with private information over multiple periods. Each agent maximizes the individual utility, while the coordinator determines the market rule to achieve group…
The change-making problem was recently extended to sets of positive integers not containing the element $1$, and from there to numerical semigroups. A greedy numerical semigroup is defined as a numerical semigroup where the greedy…
Human communities have self-organizing properties in which specific Dunbar Numbers may be invoked to explain group attachments. By analyzing Wikipedia editing histories across a wide range of subject pages, we show that there is an emergent…
In [1] we presented a model for transactions when goods are given away in the expectation of a later settlement. In settings where people keep track of their social accounts we were able to redefine concepts like account balance, yield…
We study fairness in social influence maximization, whereby one seeks to select seeds that spread a given information throughout a network, ensuring balanced outreach among different communities (e.g. demographic groups). In the literature,…
Justified representation (JR) is a standard notion of representation in multiwinner approval voting. Not only does a JR committee always exist, but previous work has also shown through experiments that the JR condition can typically be…
We study allocation problems without monetary transfers where agents have correlated types, i.e., hold private information about one another. Such peer information is relevant in various settings, including science funding, allocation of…
To study the interplay between global market choice and local peer pressure, we construct a minority-game-like econophysical model. In this so-called networked minority game model, every selfish player uses both the historical minority…
We study the societal impact of pseudo-scientific assumptions for predicting the behavior of people in a straightforward application of machine learning to risk prediction in financial lending. This use case also exemplifies the impact of…
We construct optimal designs for group testing experiments where the goal is to estimate the prevalence of a trait by using a test with uncertain sensitivity and specificity. Using optimal design theory for approximate designs, we show that…
We clarify what fairness guarantees we can and cannot expect to follow from unconstrained machine learning. Specifically, we characterize when unconstrained learning on its own implies group calibration, that is, the outcome variable is…
Herding, where investors imitate others' decisions rather than relying on their own analysis, is a prevalent phenomenon in financial markets. Excessive herding distorts rational decisions, amplifies volatility, and can be exploited by…
Interbank lending and borrowing occur when financial institutions seek to settle and refinance their mutual positions over time and circumstances. This interactive process involves money creation at the aggregate level. Coordination…
When deploying a single predictor across multiple subpopulations, we propose a fundamentally different approach: interpreting group fairness as a bargaining problem among subpopulations. This game-theoretic perspective reveals that existing…
Information exchange systems differ in many ways, but all share a common vulnerability to selfish behavior and free-riding. In this paper, we build incentives schemes based on social norms. Social norms prescribe a social strategy for the…
Credit risk prediction is an effective way of evaluating whether a potential borrower will repay a loan, particularly in peer-to-peer lending where class imbalance problems are prevalent. However, few credit risk prediction models for…