Related papers: A Network Approach to Consumption
We consider fair network topology inference from nodal observations. Real-world networks often exhibit biased connections based on sensitive nodal attributes. Hence, different subpopulations of nodes may not share or receive information…
We consider a government that aims at reducing the debt-to-gross domestic product (GDP) ratio of a country. The government observes the level of the debt-to-GDP ratio and an indicator of the state of the economy, but does not directly…
We study the distributional implications of uncertainty shocks by developing a model that links macroeconomic aggregates to the US distribution of earnings and consumption. We find that: initially, the fraction of low-earning workers…
With the rapid increase in the use of social media in the last decade, the conspicuous consumption lifestyle within society has been now transferred to the social media. Along with the changing culture of consumption, the consumer who…
We consider the problem of identifying the topology of a weighted, undirected network $\mathcal G$ from observing snapshots of multiple independent consensus dynamics. Specifically, we observe the opinion profiles of a group of agents for a…
The design of robust supply and distribution systems is one of the fundamental challenges at the interface of network science and logistics. Given the multitude of performance criteria, real-world constraints, and external influences acting…
The usual definitions of algorithmic fairness focus on population-level statistics, such as demographic parity or equal opportunity. However, in many social or economic contexts, fairness is not perceived globally, but locally, through an…
Social networks are shaped by complex, intersecting identities that drive our connection preferences. These preferences weave networks where certain groups hold privileged positions, while others become marginalized. While previous research…
In this paper, we work in the framework of the Merton problem but we impose a drawdown constraint on the consumption process. This means that consumption can never fall below a fixed proportion of the running maximum of past consumption. In…
Standard models of bounded rationality typically assume agents either possess accurate knowledge of the population's reasoning abilities (Cognitive Hierarchy) or hold dogmatic, degenerate beliefs (Level-$k$). We introduce the ``Connected…
Following the financial crisis of 2007-2008, a deep analogy between the origins of instability in financial systems and complex ecosystems has been pointed out: in both cases, topological features of network structures influence how easily…
Signalling social status through the consumption of visible goods has often been perceived as a way in which individuals seek to emulate or move up compared to others within the community. Using representative migration survey data from the…
We demonstrate using multi-layered networks, the existence of an empirical linkage between the dynamics of the financial network constructed from the market indices and the macroeconomic networks constructed from macroeconomic variables…
An understanding of the economic landscape in a world of ever increasing data necessitates representations of data that can inform policy, deepen understanding and guide future research. Topological Data Analysis offers a set of tools which…
We establish a rigorous duality theory, under No Unbounded Profit with Bounded Risk, for an infinite horizon problem of optimal consumption in the presence of an income stream that can terminate randomly at an exponentially distributed…
We discuss social network analysis from the perspective of economics. We organize the presentaion around the theme of externalities: the effects that one's behavior has on others' well-being. Externalities underlie the interdependencies…
Financial transactions constitute connections between entities and through these connections a large scale heterogeneous weighted graph is formulated. In this labyrinth of interactions that are continuously updated, there exists a variety…
Networks grow and evolve by local events, such as the addition of new nodes and links, or rewiring of links from one node to another. We show that depending on the frequency of these processes two topologically different networks can…
Conspicuous consumption occurs when a consumer derives value from a good based on its social meaning as a signal of wealth, taste, and/or community affiliation. Common conspicuous goods include designer footwear, country club memberships,…
The lack of large-scale, continuously evolving empirical data usually limits the study of networks to the analysis of snapshots in time. This approach has been used for verification of network evolution mechanisms, such as preferential…