Related papers: Welfare Distribution in Two-sided Random Matching …
In various markets where sellers compete in price, price oscillations are observed rather than convergence to equilibrium. Such fluctuations have been empirically observed in the retail market for gasoline, in airline pricing and in the…
In light of the growing interest in agent-based market models, we bring together several earlier works in which we considered the topic of self-consistent market modelling. Building upon the binary game structure of Challet and Zhang, we…
Motivated by applications such as college admission and insurance rate determination, we propose an evaluation problem where the inputs are controlled by strategic individuals who can modify their features at a cost. A learner can only…
Recommendation systems (RSs) are increasingly used to guide job seekers on online platforms, yet the algorithms currently deployed are typically optimized for predictive objectives such as clicks, applications, or hires, rather than job…
Strategic behavior in two-sided matching markets has been traditionally studied in a "one-sided" manipulation setting where the agent who misreports is also the intended beneficiary. Our work investigates "two-sided" manipulation of the…
We study a recent model of random networks based on the presence of an intrinsic character of the vertices called fitness. The vertices fitnesses are drawn from a given probability distribution density. The edges between pair of vertices…
We initiate the study of matching roommates and rooms wherein the preferences of agents over other agents and rooms are complementary and represented by Leontief utilities. In this setting, 2n agents must be paired up and assigned to n…
Consider discrete-time linear distributed averaging dynamics, whereby agents in a network start with uncorrelated and unbiased noisy measurements of a common underlying parameter (state of the world) and iteratively update their estimates…
We formulate and study a general time-varying multi-agent system where players repeatedly compete under incomplete information. Our work is motivated by scenarios commonly observed in online advertising and retail marketplaces, where agents…
Simple agent based exchange models are a commonplace in the study of wealth distribution of artificial societies. Generally, each agent is characterized by its wealth and by a risk-aversion factor, and random exchanges between agents allow…
Matching algorithms have demonstrated great success in several practical applications, but they often require centralized coordination and plentiful information. In many modern online marketplaces, agents must independently seek out and…
The formation and stability of social hierarchies is a question of general relevance. Here, we propose a simple generalized theoretical model for establishing social hierarchy via pair-wise interactions between individuals and investigate…
We study truthful mechanisms for welfare maximization in online bipartite matching. In our (multi-parameter) setting, every buyer is associated with a (possibly private) desired set of items, and has a private value for being assigned an…
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…
We propose a simple statistical-physics-inspired model for the effect of intrinsic fluctuations on supply and demand in markets. The model consists of agents that trade in two types of goods of which the total number is separately…
When some resources are to be distributed among a set of agents following egalitarian social welfare, the goal is to maximize the utility of the agent whose utility turns out to be minimal. In this context, agents can have an incentive to…
This paper studies the trading volumes and wealth distribution of a novel agent-based model of an artificial financial market. In this model, heterogeneous agents, behaving according to the Von Neumann and Morgenstern utility theory, may…
In this work we review some recent development in the mathematical modelling of quantitative sociology by means of statistical mechanics. After a short pedagogical introduction to static and dynamic properties of many body systems, we…
We study stable matching problems with locality of information and control. In our model, each agent is a node in a fixed network and strives to be matched to another agent. An agent has a complete preference list over all other agents it…
This paper delves into financial markets that incorporate a novel form of heterogeneity among investors, specifically in terms of their beliefs regarding the reliability of signals in the business cycle economy model, which may be biased.…