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The average economic agent is often used to model the dynamics of simple markets, based on the assumption that the dynamics of many agents can be averaged over in time and space. A popular idea that is based on this seemingly intuitive…
In this paper, we want to investigate dynamics of productivity in a society which is diverse when it comes to both the productivity and the perception of justice in distribution.
The fact that humans cooperate with non-kin in large groups, or with people they will never meet again, is a long-standing evolutionary puzzle with profound implications. Cooperation is linked to altruism, the capacity to perform costly…
The stability analysis of socioeconomic systems has been centered on answering whether small perturbations when a system is in a given quantitative state will push the system permanently to a different quantitative state. However, typically…
The concept of power can be explored at several scales: from physical action and process effectuation, all the way to complex social dynamics. A spectrum-wide analysis of power requires attention to the fundamental principles that constrain…
How does competition in markets for information affect the creation and division of surplus? We study this question in a search environment in which an agent searches sequentially for a high-quality good and learns about the quality of…
This paper investigates the dynamics of noncooperative interactions between artificial intelligence agents and human decision-makers in strategic environments. In particular, motivated by extensive literature in behavioral Economics, human…
We study the consequences of job markets' heavy reliance on referrals. Referrals lead to more opportunities for workers to be hired, which lead to better matches and increased productivity, but also disadvantage job-seekers with few or no…
We report on three pre-registered studies testing whether people in the position of describing a decision problem to decision-makers exploit this opportunity for their benefit, by choosing descriptions that may be potentially beneficial for…
An improved mathematical model of social group competition is proposed. The utility obtained by a member of a certain group from each other member is assumed to be group size-dependent. Obtained results are close to available census data.…
Organizations consist of individuals connected by their responsibilities, incentives, and reporting structure. These connections are aptly represented by a network, hierarchical or other, which is often used to divide tasks. A primary goal…
"Big data" gives markets access to previously unmeasured characteristics of individual agents. Policymakers must decide whether and how to regulate the use of this data. We study how new data affects incentives for agents to exert effort in…
In social network markets, the act of consumer choice in these industries is governed not just by the set of incentives described by conventional consumer demand theory, but by the choices of others in which an individual's payoff is an…
A mediator is a well-known construct in game theory, and is an entity that plays on behalf of some of the agents who choose to use its services, while the rest of the agents participate in the game directly. We initiate a game theoretic…
We study the migrants' assimilation, which we conceptualize as forming human capital productive on the labor market of a developed host country, and we link the observed frequent lack of assimilation with the relative deprivation that the…
The rate at which nodes in a network increase their connectivity depends on their fitness to compete for links. For example, in social networks some individuals acquire more social links than others, or on the www some webpages attract…
What role do non-elected bureaucrats play when elections provide imperfect accountability and create incentives for pandering? We develop a model where politicians and bureaucrats interact to implement policy. Both can either be good,…
Is visitors' attendance a fair indicator of a web site's quality? Internet sub-domains are usually characterized by power law distributions of visits, thus suggesting a richer-get-richer process. If this is the case, the number of visits is…
Many markets rely on traders truthfully communicating who has cheated in the past and ostracizing those traders from future trade. This paper investigates when truthful communication is incentive compatible. We find that if each side has a…
Professional networks are a key determinant of individuals' labor market outcomes. They may also play a role in either exacerbating or ameliorating inequality of opportunity across demographic groups. In a theoretical model of professional…