Related papers: Status substitution and conspicuous consumption

Collective, especially group-based, managerial decision making is crucial in organizations. Using an evolutionary theoretic approach to collective decision making, agent-based simulations were conducted to investigate how human collective…

We study a networked version of the minority game in which agents can choose to follow the choices made by a neighbouring agent in a social network. We show that for a wide variety of networks a leadership structure always emerges, with…

We consider a monopolistic seller in a market that may be segmented. The surplus of each consumer in a segment depends on the price that the seller optimally charges, which depends on the set of consumers in the segment. We study which…

We consider the problem of the evolution of a code within a structured population of agents. The agents try to maximise their information about their environment by acquiring information from the outputs of other agents in the population. A…

We investigate a group choice problem of agents pursuing social status. We assume heterogeneous agents want to signal their private information (ability, income, patience, altruism, etc.) to others, facing tradeoff between "outside status"…

Agents learn about a changing state using private signals and their neighbors' past estimates of the state. We present a model in which Bayesian agents in equilibrium use neighbors' estimates simply by taking weighted sums with…

In the modeling, monitoring, and control of complex networks, a fundamental problem concerns the comprehensive determination of the state of the system from limited measurements. Using power grids as example networks, we show that this…

Precision medicine has received attention both in and outside the clinic. We focus on the latter, by exploiting the relationship between individuals' social interactions and their mental health to develop a predictive model of one's…

Random utility theory models an agent's preferences on alternatives by drawing a real-valued score on each alternative (typically independently) from a parameterized distribution, and then ranking the alternatives according to scores. A…

The occurrence of discrimination is an important problem in the social and economical sciences. Much of the discrimination observed in empirical studies can be explained by the theory of in-group favoritism, which states that people tend to…

Humans do not always make rational choices, a fact that experimental economics is putting on solid grounds. The social context plays an important role in determining our actions, and often we imitate friends or acquaintances without any…

Many collective decision-making settings feature a strategic tension between agents acting out of individual self-interest and promoting a common good. These include wearing face masks during a pandemic, voting, and vaccination. Networked…

A network of agents attempt to learn some unknown state of the world drawn by nature from a finite set. Agents observe private signals conditioned on the true state, and form beliefs about the unknown state accordingly. Each agent may face…

We study how long-lived, rational agents learn in a social network. In every period, after observing the past actions of his neighbors, each agent receives a private signal, and chooses an action whose payoff depends only on the state.…

This paper deals with change detection of utility maximization behaviour in online social media. Such changes occur due to the effect of marketing, advertising, or changes in ground truth. First, we use the revealed preference framework to…

Models of cooperation grounded on social networks and on the ability of individuals to choose actions and partners aim to describe human social behavior. Extensive computer simulations of these models give important insight in the social…

In network science, assortativity refers to the tendency of links to exist between nodes with similar attributes. In social networks, for example, links tend to exist between individuals of similar age, nationality, location, race, income,…

We consider a crowdsourcing data acquisition scenario, such as federated learning, where a Center collects data points from a set of rational Agents, with the aim of training a model. For linear regression models, we show how a payment…

Many real-world networks such as social networks consist of strategic agents. The topology of these networks often plays a crucial role in determining the ease and speed with which certain information driven tasks can be accomplished.…

This work studies the learning abilities of agents sharing partial beliefs over social networks. The agents observe data that could have risen from one of several hypotheses and interact locally to decide whether the observations they are…