Related papers: A few misfits can Change the World
Many models of market dynamics make use of the idea of wealth exchanges among economic agents. A simple analogy compares the wealth in a society with the energy in a physical system, and the trade between agents to the energy exchange…
Standard macroeconomic models assume that households are rational in the sense that they are perfect utility maximizers, and explain economic dynamics in terms of shocks that drive the economy away from the stead-state. Here we build on a…
This study examines the relationship between automation and income inequality across different countries, taking into account the varying levels of technological adoption and labor market institutions. The research employs a panel data…
Cooperation is observed widely in nature and is thought an essential component of many evolutionary processes, yet the mechanisms by which it arises and persists are still unclear. Among several theories, network reciprocity -- a model of…
When consequential decisions are informed by algorithmic input, individuals may feel compelled to alter their behavior in order to gain a system's approval. Models of agent responsiveness, termed "strategic manipulation," analyze the…
Work must be reshaped in the upcoming new era characterized by new challenges and the presence of new technologies and computational tools. Over-automation seems to be the driver of the digitalization process. Substitution is the paradigm…
A major aim of evolutionary biology is to explain the respective roles of adaptive versus non-adaptive changes in the evolution of complexity. While selection is certainly responsible for the spread and maintenance of complex phenotypes,…
There has been a long-running debate in Information Technology (IT) and economics literature about the contrary arguments of IT concerning digitalization and the economic growth of nations. While many empirical studies have shown a…
Digital systems are, by definition, the core of digital transformation. This has led many to think that the system being considered in digital transformation is solely software. I argue that this approach is a fatal mistake, and it has…
We study the production, entry, and technological decisions of firms in the presence of bribery. We find that bribery can be justified even in the absence of bureaucratic inefficiencies. We document substantial technology-specific…
Failures of cooperation cause many of society's gravest problems. It is well known that cooperation among many players faced with a social dilemma can be maintained thanks to the possibility of punishment, but achieving the initial state of…
Automation and industrial mass production, particularly in sectors with low wages, have harmful consequences that contribute to widening wealth disparities, excessive pollution, and worsened working conditions. Coupled with a mass…
The remarkable ecological success of humans is often attributed to our ability to develop complex cultural artefacts that enable us to cope with environmental challenges. The evolution of complex culture (cumulative cultural evolution) is…
The empirical literature on the relationship between income inequality and economic growth has produced highly heterogeneous and often conflicting results. This paper investigates the sources of this heterogeneity using a meta-analytic…
The unreflected promotion of diversity as a value in social interactions -- including technology-mediated ones -- risks emphasizing the benefits of inclusion at the cost of not recognizing the potential harm from failing to protect…
Data-centric technologies provide exciting opportunities, but recent research has shown how lack of representation in datasets, often as a result of systemic inequities and socioeconomic disparities, can produce inequitable outcomes that…
A continuous variable changing between 0 and 1 is introduced to characterise contentment, or satisfaction with life, of an individual and an equation governing its evolution is postulated from analysis of several factors likely to affect…
I develop a rather simple agent-based model to capture a co-evolution of opinion formation, political decision making and economic outcomes. I use this model to study how societies form opinions if their members have opposing interests.…
The era of technological change entails complex patterns of changes in wages and employment. We develop a unified framework to evaluate the effects of capital-embodied technological change on, as well as the contributions of factor inputs…
Digital networks have profoundly transformed the ways in which individuals interact, exchange information, and establish connections, leading to the emergence of phenomena such as virality, misinformation cascades, and online polarization.…