Related papers: Climate Change Adaptation under Heterogeneous Beli…

A growing number of applications involve settings where, in order to infer heterogeneous effects, a researcher compares various units. Examples of research designs include children moving between different neighborhoods, workers moving…

Beliefs are important determinants of an individual's choices and economic outcomes, so understanding how they comove and differ across individuals is of considerable interest. Researchers often rely on surveys that report individual…

Belief dynamics are fundamental to human behavior and social coordination. Individuals rely on accurate beliefs to make decisions, and shared beliefs form the basis of successful cooperation. Traditional studies often examined beliefs in…

Machine learning has the potential to aid in mitigating the human effects of climate change. Previous applications of machine learning to tackle the human effects in climate change include approaches like informing individuals of their…

We develop a stochastic equilibrium model for an electricity market with asymmetric renewable energy forecasts. In our setting, market participants optimize their profits using public information about a conditional expectation of energy…

In this paper, we consider the dynamic oscillation in the Cournot oligopoly model, which involves multiple firms producing homogeneous products. To explore the oscillation under the updates of best response strategies, we focus on the…

Conformal prediction is an uncertainty quantification method that constructs a prediction set for a previously unseen datum, ensuring the true label is included with a predetermined coverage probability. Adaptive conformal prediction has…

Energy system models underpin decisions by energy system planners and operators. Energy system modelling faces a transformation: accounting for changing meteorological conditions imposed by climate change. To enable that transformation, a…

We study the impact of contagion in a network of firms facing credit risk. We describe an intensity based model where the homogeneity assumption is broken by introducing a random environment that makes it possible to take into account the…

Numerical climate models are used to project future climate change due to both anthropogenic and natural causes. Differences between projections from different climate models are a major source of uncertainty about future climate. Emergent…

A broad set of empirical phenomenon in the study of social, economic and machine behaviour can be modelled as complex systems with averaging dynamics. However many of these models naturally result in consensus or consensus-like outcomes. In…

Effective climate action depends on dismantling the assumptions and oversimplifications that have become the basis of climate policy. The assumption that greenhouse gases (GHG) are fungible and the use of single-point values in normalizing…

This paper examines a heterogeneous beliefs model in which there is a process that is only partially observed by the agents. The economy contains a risky asset producing dividends continuously in time. The dividends are observed by the…

We study a model of opinion formation where the opinions in conflict are not equivalent. This is the case when the subject of the decision is to respect a norm or a law. In such scenarios, one of the possible behaviors is to abide by the…

Promoting and increasing energy efficiency is a promising method of reducing CO2 emissions and avoiding the potentially devastating effects of climate change. The question is: How do we induce a cultural or behavioural change whereby people…

In Network cooperative games, due to computational complexity issues, agents are not able to base their behavior on the "whole network status" but have to follow certain "beliefs" as to how it is in their strategic interest to act. This…

Agent-based models provide a constructive approach to studying emergent dynamics in life-like systems composed of interacting, adaptive agents. Financial markets serve as a canonical example of such systems, where collective price dynamics…

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…

We present an extensive study of the joint effects of heterogeneous social agents and their heterogeneous social links in a bounded confidence opinion dynamics model. The full phase diagram of the model is explored for two different…

An agent-based model for firms' dynamics is developed. The model consists of firm agents with identical characteristic parameters and a bank agent. Dynamics of those agents is described by their balance sheets. Each firm tries to maximize…