Related papers: Gamblers Learn from Experience
The survey is concerned with the issue of information transmission from experts to non-experts. Two main approaches to the use of experts can be traced. According to the game-theoretic approach expertise is a case of asymmetric information…
Suppose a gambler starts with a fortune in (0,1) and wishes to attain a fortune of 1 by making a sequence of bets. Assume thay whenever the gambler stakes the amount s, the gambler's fortune increases by s with probability w and decreases…
We consider decentralized stochastic multi-armed bandit problem with multiple players in the case of different communication probabilities between players. Each player makes a decision of pulling an arm without cooperation while aiming to…
We study learning dynamics induced by strategic agents who repeatedly play a game with an unknown payoff-relevant parameter. In this dynamics, a belief estimate of the parameter is repeatedly updated given players' strategies and realized…
Not all smartphone owners use their device in the same way. In this work, we uncover broad, latent patterns of mobile phone use behavior. We conducted a study where, via a dedicated logging app, we collected daily mobile phone activity data…
In-game win probability models, which provide a sports team's likelihood of winning at each point in a game based on historical observations, are becoming increasingly popular. In baseball, basketball and American football, they have become…
Sports betting markets are proven real-world laboratories to test theories of asset pricing anomalies and risky behaviour. Using a high-frequency dataset provided directly by a major bookmaker, containing the odds and amounts staked…
The Doer Effect states that completing more active learning activities, like practice questions, is more strongly related to positive learning outcomes than passive learning activities, like reading, watching, or listening to course…
The increased use of digital devices and applications has led to a rise in phishing attacks. We develop a serious game to raise awareness about phishing attacks and help people avoid these threats in a risk-free learning environment. This…
Commitment devices are powerful tools that can influence and incentivise certain behaviours by linking them to rewards or punishments. These devices are particularly useful in decision-making, as they can steer individuals towards specific…
Phishing is an online fraudulent technique, which aims to steal sensitive information such as usernames, passwords and online banking details from its victims. To prevent this, anti-phishing education needs to be considered. This research…
Prophet inequalities are a central object of study in optimal stopping theory. A gambler is sent values in an online fashion, sampled from an instance of independent distributions, in an adversarial, random or selected order, depending on…
We analyze the Gambler's problem, a simple reinforcement learning problem where the gambler has the chance to double or lose the bets until the target is reached. This is an early example introduced in the reinforcement learning textbook by…
In a multi-follower Bayesian Stackelberg game, a leader plays a mixed strategy over $L$ actions to which $n\ge 1$ followers, each having one of $K$ possible private types, best respond. The leader's optimal strategy depends on the…
Scoring models support decision-making in financial institutions. Their estimation and evaluation are based on the data of previously accepted applicants with known repayment behavior. This creates sampling bias: the available labeled data…
Smartphones are becoming necessary tools in the daily lives of mil-lions of users who rely on these devices and their applications. There are thou-sands of applications for smartphone devices such as the iPhone, Blackberry, and Android,…
The present study provides the first evidence that illiteracy can be reliably predicted from standard mobile phone logs. By deriving a broad set of mobile phone indicators reflecting users financial, social and mobility patterns we show how…
Much of economic theory is built on observations of aggregate, rather than individual, behavior. Here, we present novel findings on human shopping patterns at the resolution of a single purchase. Our results suggest that much of our…
In online betting, the bookmaker can update the payoffs it offers on a particular event many times before the event takes place, and the updated payoffs may depend on the bets accumulated thus far. We study the problem of bookmaking with…
The study examines the relationship between mobile financial services and individual financial behavior in India wherein a sizeable population is yet to be financially included. Addressing the endogeneity associated with the use of mobile…