Related papers: Absolute and Relative Ambiguity Attitudes
We run experimental asset markets to investigate the emergence of excess trading and the occurrence of synchronised trading activity leading to crashes in the artificial markets. The market environment favours early investment in the risky…
This note shows that the value of ambiguous persuasion characterized in Beauchene, Li and Li(2019) can be given by a concavification program as in Bayesian persuasion (Kamenica and Gentzkow, 2011). In addition, it implies that an ambiguous…
We explore conclusions a person draws from observing society when he allows for the possibility that individuals' outcomes are affected by group-level discrimination. Injecting a single non-classical assumption, that the agent is…
People often interact repeatedly: with relatives, through file sharing, in politics, etc. Many such interactions are reciprocal: reacting to the actions of the other. In order to facilitate decisions regarding reciprocal interactions, we…
Learning under one-sided feedback (i.e., where we only observe the labels for examples we predicted positively on) is a fundamental problem in machine learning -- applications include lending and recommendation systems. Despite this, there…
We propose a novel approach to approximate Bayesian computation (ABC) that seeks to cater for possible misspecification of the assumed model. This new approach can be equally applied to rejection-based ABC and to popular regression…
Economic choices are often stochastic: the same person may make a different choice when facing the same alternatives repeatedly. Standard models assume that the degree of randomness reflects the size of utility differences, but choice…
We present an extension-based approach for computing and verifying preferences in an abstract argumentation system. Although numerous argumentation semantics have been developed previously for identifying acceptable sets of arguments from…
The performance of trend following strategies can be ascribed to the difference between long-term and short-term realized variance. We revisit this general result and show that it holds for various definitions of trend strategies. This…
We study the emergence of conformity preferences in an environment in which agents choose effort under heterogeneous, possibly misspecified returns, and social interactions do not directly affect material payoffs. Some agents choose effort…
Existing observational approaches for learning human preferences, such as inverse reinforcement learning, usually make strong assumptions about the observability of the human's environment. However, in reality, people make many important…
We study the experimentation dynamics of a decision maker (DM) in a two-armed bandit setup (Bolton and Harris (1999)), where the agent holds ambiguous beliefs regarding the distribution of the return process of one arm and is certain about…
We consider the problem of finding Pareto-optimal allocations of risk among finitely many agents. The associated individual risk measures are law invariant, but with respect to agent-dependent and potentially heterogeneous reference…
We study the framework of abductive logic programming extended with integrity constraints. For this framework, we introduce a new measure of the simplicity of an explanation based on its degree of \emph{arbitrariness}: the more arbitrary…
Theoretically as well as experimentally it is investigated how people represent their knowledge in order to make decisions or to share their knowledge with others. Experiment 1 probes into the ways how people 6ather information about the…
LLMs are widely used, yet they remain prone to factual errors that erode user trust and limit adoption in high-risk settings. One approach to mitigate this risk is to equip models with uncertainty estimation mechanisms that abstain when…
In safety-critical applications of machine learning, it is often important to abstain from making predictions on low confidence examples. Standard abstention methods tend to be focused on optimizing top-k accuracy, but in many applications,…
The article demonstrates that logic is not necessarily singleton and does not always have the standard interpretation of negation. Appropriate generalizations of logic are suggested. Positive logic and multivalued negation operations are…
While various approaches have recently been studied for bias identification, little is known about how implicit language that does not explicitly convey a viewpoint affects bias amplification in large language models. To examine the…
We present an extensive study of the joint effects of heterogeneous social agents and their heterogeneous social links in a bounded confidence opinion dynamics model. The full phase diagram of the model is explored for two different…