Related papers: Information Acquisition and Diffusion in Markets

Ranking algorithms are the information gatekeepers of the Internet era. We develop a stylized model to study the effects of ranking algorithms on opinion dynamics. We consider a search engine that uses an algorithm based on popularity and…

Information diffusion on social media platforms is often assumed to occur primarily through explicit social connections, such as follower or friend ties. However, information frequently propagates beyond these observable ties -- through…

Dynamic models and statistical inference for the diffusion of information in social networks is an area which has witnessed remarkable progress in the last decade due to the proliferation of social networks. Modeling and inference of…

We study the diffusion behavior of real-time information. Typically, real-time information is valuable only for a limited time duration, and hence needs to be delivered before its "deadline." Therefore, real-time information is much easier…

We study the use of viral marketing strategies on social networks to maximize revenue from the sale of a single product. We propose a model in which the decision of a buyer to buy the product is influenced by friends that own the product…

After years of speculation, price discrimination in e-commerce driven by the personal information that users leave (involuntarily) online, has started attracting the attention of privacy researchers, regulators, and the press. In our…

The recent developments of social networks and recommender systems have dramatically increased the amount of social information shared in human communities, challenging the human ability to process it. As a result, sharing aggregated forms…

Propagating information to more people through their friends is becoming an increasingly important technology used in domains such as blockchain, advertising, and social media. To incentivize people to broadcast the information, the…

Widespread interest in the diffusion of information through social networks has produced a large number of Social Dynamics models. A majority of them use theoretical hypothesis to explain their diffusion mechanisms while the few empirically…

In this paper, we study the information propagation in an empirical blogging network by game-theoretical approach. The blogging network has small-world property and is scale-free. Individuals in the blogosphere coordinate their decisions…

This paper studies optimal mechanisms for collecting and trading data. Consumers benefit from revealing information about their tastes to a service provider because this improves the service. However, the information is also valuable to a…

In recent years, a new branch of auction models called diffusion auction has extended the traditional auction into social network scenarios. The diffusion auction models the auction as a networked market whose nodes are potential customers…

We solve for the equilibrium dynamics of information sharing in a large population. Each agent is endowed with signals regarding the likely outcome of a random variable of common concern. Individuals choose the effort with which they search…

The spread of new ideas, behaviors or technologies has been extensively studied using epidemic models. Here we consider a model of diffusion where the individuals' behavior is the result of a strategic choice. We study a simple coordination…

Path selection by selfish agents has traditionally been studied by comparing social optima and equilibria in the Wardrop model, i.e., by investigating the Price of Anarchy in selfish routing. In this work, we refine and extend the…

Consumers only discover at the first seller which product best fits their needs, then check its price online, then decide on buying. Switching sellers is costly. Equilibrium prices fall in the switching cost, eventually to the monopoly…

We study economies where consumers interact independently with many monopolists. When consumer valuations over goods are correlated, correlation can distort the induced distribution of consumer surplus (information rents). We identify which…

Online platforms collect rich information about participants and then share some of this information back with them to improve market outcomes. In this paper we study the following information disclosure problem in two-sided markets: If a…

We present a graph-theoretic model of consumer choice, where final decisions are shown to be influenced by information and knowledge, in the form of individual awareness, discriminating ability, and perception of market structure. Building…

Crowdsourcing services, such as Waze, leverage a mass of mobile users to learn massive point-of-interest (PoI) information while traveling and share it as a public good. Given that crowdsourced users mind their travel costs and possess…