Related papers: Decreasing Incomes Increase Selfishness
Cognitive biases are widespread in humans and animals alike, and can sometimes be reinforced by social interactions. One prime bias in judgment and decision-making is the human tendency to underestimate large quantities. Previous research…
In this paper, we analyze the long-term distributive impact of climate change through rising food prices. We use a standard incomplete markets model and account for non-linear Engel curves for food consumption. For the calibration of our…
Diversity of physical encounters and social interactions in urban environments are known to spur economic productivity and innovation in cities, while also to foster social capital and resilience of communities. However, mobility…
Reducing wealth inequality and increasing utility are critical issues. This study reveals the effects of redistribution and consumption morals on wealth inequality and utility. To this end, we present a novel approach that couples the…
Evolutionary game dynamics in structured populations are strongly affected by updating rules. Previous studies usually focus on imitation-based rules, which rely on payoff information of social peers. Recent behavioral experiments suggest…
Economic competition between humans leads to income inequality, but, so far, there has been little understanding of underlying quantitative mechanisms governing such a collective behavior. We analyze datasets of household income from 67…
Each individual in society experiences an evolution of their income during their lifetime. Macroscopically, this dynamics creates a statistical relationship between age and income for each society. In this study, we investigate income…
Discovering the antecedents of individuals' influence in collaborative environments is an important, practical, and challenging problem. In this paper, we study interpersonal influence in small groups of individuals who collectively execute…
Cooperation is fundamental to the evolution of human society. We regularly observe cooperative behaviour in everyday life and in controlled experiments with anonymous people, even though standard economic models predict that they should…
The goal of this article is to investigate how human participants allocate their limited time to decisions with different properties. We report the results of two behavioral experiments. In each trial of the experiments, the participant…
Post-pandemic world has thrown up several challenges, such as, high inflation, low growth, high debt, collapse of economies, political instability, job losses, lowering of income in addition to damages caused natural disasters, more…
Biological competition is widely believed to result in the evolution of selfish preferences. The related concept of the `homo economicus' is at the core of mainstream economics. However, there is also experimental and empirical evidence for…
We study the impact of disinformation on a model of resource allocation with independent selfish agents: clients send requests to one of two servers, depending on which one is perceived as offering shorter waiting times. Delays in the…
Decisions taken in our everyday lives are based on a wide variety of information so it is generally very difficult to assess what are the strategies that guide us. Stock market therefore provides a rich environment to study how people take…
Humans have developed considerable machinery used at scale to create policies and to distribute incentives, yet we are forever seeking ways in which to improve upon these, our institutions. Especially when funding is limited, it is…
Systems aiming to aid consumers in their decision-making (e.g., by implementing persuasive techniques) are more likely to be effective when consumers trust them. However, recent research has demonstrated that the machine learning algorithms…
Different models to study the wealth distribution in an artificial society have considered a transactional dynamics as the driving force. Those models include a risk aversion factor, but also a finite probability of favoring the poorer…
Adaptive populations such as those in financial markets and distributed control can be modeled by the Minority Game. We consider how their dynamics depends on the agents' initial preferences of strategies, when the agents use linear or…
Scholars of social stratification often study exposures that shape life outcomes. But some outcomes (such as wage) only exist for some people (such as those who are employed). We show how a common practice -- dropping cases with…
Social choice functions help aggregate individual preferences while differentially private mechanisms provide formal privacy guarantees to release answers of queries operating on sensitive data. However, preserving differential privacy…