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Despite strong evidence for peer effects, little is known about how individuals balance intrinsic preferences and social learning in different choice environments. Using a combination of experiments and discrete choice modeling, we show…
Many real-life decisions involve both perceptual processes and weighing the consequences of different actions. However, the neural mechanisms underlying perceptual decisions have typically been examined separately from those underlying…
Emotion and fairness play a key role in mediating socioeconomic decisions in humans; however, the underlying neurocognitive mechanism remains largely unknown. This exploratory study unraveled the interplay between agents' emotions and the…
The outcomes of elections, product sales, and the structure of social connections are all determined by the choices individuals make when presented with a set of options, so understanding the factors that contribute to choice is crucial. Of…
Language can exert a strong influence on human behaviour. In experimental studies, it is for example well-known that the framing of an experiment or priming at the beginning of an experiment can alter participants' behaviour. However, few…
Consider an agent taking two successive decisions to maximize his expected utility under uncertainty. After his first decision, a signal is revealed that provides information about the state of nature. The observation of the signal allows…
When information acquisition is costly but flexible, a principal may rationally acquire information that favors one group over another. The former group faces incentives to invest in becoming productive, while the latter is discouraged from…
Human behavioural patterns exhibit selfish or competitive, as well as selfless or altruistic tendencies, both of which have demonstrable effects on human social and economic activity. In behavioural economics, such effects have…
Observation of other people's choices can provide useful information in many circumstances. However, individuals may not utilize this information efficiently, i.e., they may make decision-making errors in social interactions. In this paper,…
Recent studies suggest that cooperative decision-making in one-shot interactions is a history-dependent dynamic process: promoting intuition versus deliberation has typically a positive effect on cooperation (dynamism) among people living…
Advances in artificial intelligence often stem from the development of new environments that abstract real-world situations into a form where research can be done conveniently. This paper contributes such an environment based on ideas…
I study altruistic choices through the lens of a cognitively noisy decision-maker. I introduce a theoretical framework that demonstrates how increased cognitive noise can directionally affect altruistic decisions and put its implications to…
In mainstream neoclassical economics, utility maximization is the only engine of individual action, and the other or the social, if it is modeled for decisions deemed fundamental, it is done as a tacit externality parameter affecting an…
In many situations people make sequences of similar, but unrelated decisions. Such decision sequences are prevalent in many important contexts including judicial judgments, loan approvals, college admissions, and athletic competitions. A…
We explored decision-making dynamics in social systems, referencing the 'herd behavior' from prior studies where individuals follow preceding choices without understanding the underlying reasons. While previous research highlighted a…
Two-sided matching markets have long existed to pair agents in the absence of regulated exchanges. A common example is school choice, where a matching mechanism uses student and school preferences to assign students to schools. In such…
The bystander effect is a social psychological phenomenon in which individuals are less likely to help a person potentially in need if there are others present. Sociologists and psychologists have proposed multiple plausible reasons for the…
People are influenced by the choices of others, a phenomenon observed across contexts in the social and behavioral sciences. Social influence can lock in an initial popularity advantage of an option over a higher quality alternative. Yet…
We consider situations where consumers are aware that a statistical model determines the price of a product based on their observed behavior. Using a novel experiment varying the context similarity between participant data and a product, we…
When making decisions under risk, people often exhibit behaviors that classical economic theories cannot explain. Newer models that attempt to account for these irrational behaviors often lack neuroscience bases and require the introduction…