Related papers: Optimal Group Size in Microlending
Mean field Master equations for the norm game are investigated. The strategies are: to obey the norm or not and to punish those who break it or not. The punishment, the temptation, the punishment cost and the relaxation of vengeance are…
Populations of mobile and communicating agents describe a vast array of technological and natural systems, ranging from sensor networks to animal groups. Here, we investigate how a group-level agreement may emerge in the continuously…
We consider the problem of identifying infected individuals in a population of size N. We introduce a group testing approach that uses significantly fewer than N tests when infection prevalence is low. The most common approach to group…
Large language models demonstrate strong problem-solving abilities through reasoning techniques such as chain-of-thought prompting and reflection. However, it remains unclear whether these reasoning capabilities extend to a form of social…
Social dilemmas are central to human society. Depletion of natural resources, climate protection, security of energy supply, and workplace collaborations are all examples of social dilemmas. Since cooperative behaviour in a social dilemma…
We consider multi-armed bandit problems in social groups wherein each individual has bounded memory and shares the common goal of learning the best arm/option. We say an individual learns the best option if eventually (as $t\to \infty$) it…
The problem of dividing resources fairly occurs in many practical situations and is therefore an important topic of study in economics. In this paper, we investigate envy-free divisions in the setting where there are multiple players in…
We discuss how minimal financial market models can be constructed by bridging the gap between two existing, but incomplete, market models: a model in which a population of virtual traders make decisions based on common global information…
The events of the last few years revealed an acute need for tools to systematically model and analyze large financial networks. Many applications of such tools include the forecasting of systemic failures and analyzing probable effects of…
When a company undergoes a merger or transfers its ownership, the existing governing body has an opinion on which buyer should take over as the new owner. Similar situations occur while assigning the host of big sports tournaments, like the…
The sample complexity of multi-group learning is shown to improve in the group-realizable setting over the agnostic setting, even when the family of groups is infinite so long as it has finite VC dimension. The improved sample complexity is…
We study how to allocate resources to participants who can strategically misrepresent their deservingness at a cost. A principal assigns item(s) (or money) among multiple agents on the basis of their costly signals. Each agent's signal…
It has been suggested that direct reciprocity operates well within small groups of people where it would be hard to get away with cheating one another but no research has been done yet to show how exactly the mechanism of direct reciprocity…
The quality of governance of institutions, corporations and countries depends on the ability of efficient decision making within the respective boards or cabinets. Opinion formation processes within groups are size dependent. It is often…
We propose a novel formulation of group fairness with biased feedback in the contextual multi-armed bandit (CMAB) setting. In the CMAB setting, a sequential decision maker must, at each time step, choose an arm to pull from a finite set of…
In a society of completely selfish individuals where everybody is only interested in maximizing his own payoff, does any equilibrium exist for the society? John Nash proved more than 50 years ago that an equilibrium always exists such that…
We study the problem of allocating bailouts (stimulus, subsidy allocations) to people participating in a financial network subject to income shocks. We build on the financial clearing framework of Eisenberg and Noe that allows the…
Trust facilitates cooperation and supports positive outcomes in social groups, including member satisfaction, information sharing, and task performance. Extensive prior research has examined individuals' general propensity to trust, as well…
Uncovering how inequality emerges from human interaction is imperative for just societies. Here we show that the way social groups interact in face-to-face situations can enable the emergence of disparities in the visibility of social…
Subsidies are commonly used to encourage behaviors that can lead to short- or long-term benefits. Typical examples include subsidized job training programs and provisions of preventive health products, in which both behavioral responses and…