Related papers: Present-Biased Optimization
The present bias is a well-documented behavioral trait that significantly influences human decision-making, with present-biased agents often prioritizing immediate rewards over long-term benefits, leading to suboptimal outcomes in various…
Time-inconsistent behavior, such as procrastination or abandonment of long-term goals, arises when agents evaluate immediate outcomes disproportionately higher than future ones. This leads to globally suboptimal behavior, where plans are…
One of the most widespread human behavioral biases is the present bias -- the tendency to overestimate current costs by a bias factor. Kleinberg and Oren (2014) introduced an elegant graph-theoretical model of inconsistent planning…
Individuals working towards a goal often exhibit time inconsistent behavior, making plans and then failing to follow through. One well-known model of such behavioral anomalies is present-bias discounting: individuals over-weight present…
Present bias, the tendency to weigh costs and benefits incurred in the present too heavily, is one of the most widespread human behavioral biases. It has also been the subject of extensive study in the behavioral economics literature. While…
We build upon recent work [Kleinberg and Oren, 2014, Kleinberg et al., 2016, 2017] that considers present biased agents, who place more weight on costs they must incur now than costs they will incur in the future. They consider a graph…
Time-inconsistency is a characteristic of human behavior in which people plan for long-term benefits but take actions that differ from the plan due to conflicts with short-term benefits. Such time-inconsistent behavior is believed to be…
Present bias, the tendency to overvalue immediate rewards while undervaluing future ones, is a well-known barrier to achieving long-term goals. As artificial intelligence and behavioral economics increasingly focus on this phenomenon, the…
Everyone puts things off sometimes. How can we combat this tendency to procrastinate? A well-known technique used by instructors is to break up a large project into more manageable chunks. But how should this be done best? Here we study the…
Time-inconsistency refers to a paradox in decision making where agents exhibit inconsistent behaviors over time. Examples are procrastination where agents tends to costly postpone easy tasks, and abandonments where agents start a plan and…
The tendency to overestimate immediate utility is a common cognitive bias. As a result people behave inconsistently over time and fail to reach long-term goals. Behavioral economics tries to help affected individuals by implementing…
We present a novel model for capturing the behavior of an agent exhibiting sunk-cost bias in a stochastic environment. Agents exhibiting sunk-cost bias take into account the effort they have already spent on an endeavor when they evaluate…
Recent work has considered theoretical models for the behavior of agents with specific behavioral biases: rather than making decisions that optimize a given payoff function, the agent behaves inefficiently because its decisions suffer from…
In many settings, people exhibit behavior that is inconsistent across time --- we allocate a block of time to get work done and then procrastinate, or put effort into a project and then later fail to complete it. An active line of research…
We study online learning for optimal allocation when the resource to be allocated is time. %Examples of possible applications include job scheduling for a computing server, a driver filling a day with rides, a landlord renting an estate,…
People are often reluctant to sell a house, or shares of stock, below the price at which they originally bought it. While this is generally not consistent with rational utility maximization, it does reflect two strong empirical regularities…
I model a rational agent who experiences endogenous deadline pressure in the face of a fixed future deadline. The agent holds a resource stock, and opportunities to spend resources arise randomly according to a Poisson process. When the…
Distributed optimization finds applications in large-scale machine learning, data processing and classification over multi-agent networks. In real-world scenarios, the communication network of agents may encounter latency that may affect…
Timing decisions are common: when to file your taxes, finish a referee report, or complete a task at work. We ask whether time preferences can be inferred when \textsl{only} task completion is observed. To answer this question, we analyze…
A striking limitation of human cognition is our inability to execute some tasks simultaneously. Recent work suggests that such limitations can arise from a fundamental tradeoff in network architectures that is driven by the sharing of…