Related papers: Comparative Patience
Quantum resources may provide advantage over their classical counterparts. Theoretically, in certain tasks, this advantage can be very high. In this work, we construct such a task based on a game, mediated by Referee and played between…
Models of economic decision makers often include idealized assumptions, such as rationality, perfect foresight, and access to all relevant pieces of information. These assumptions often assure the models' internal validity, but, at the same…
We study competition among contests in a general model that allows for an arbitrary and heterogeneous space of contest design, where the goal of the contest designers is to maximize the contestants' sum of efforts. Our main result shows…
The war of attrition in game theory is a model of a stand-off situation between two opponents where the winner is determined by its persistence. We model a stand-off between a predator and a prey when the prey is hiding and the predator is…
One common assumption in game theory is that any player optimizes a utility function that takes into account only its own payoff. However, it has long been observed that in real life players may adopt an altruistic or even spiteful…
We study auctions whose bidders are embedded in a social or economic network. As a result, even bidders who do not win the auction themselves might derive utility from the auction, namely, when a friend wins. On the other hand, when an…
A new method of deriving comparative statics information using generalized compensated derivatives is presented which yields constraint-free semidefiniteness results for any differentiable, constrained optimization problem. More generally,…
Modeling the preferences of agents over a set of alternatives is a principal concern in many areas. The dominant approach has been to find a single reward/utility function with the property that alternatives yielding higher rewards are…
In fair division of indivisible goods, using sequences of sincere choices (or picking sequences) is a natural way to allocate the objects. The idea is the following: at each stage, a designated agent picks one object among those that…
As society transitions towards an AI-based decision-making infrastructure, an ever-increasing number of decisions once under control of humans are now delegated to automated systems. Even though such developments make various parts of…
One of the most direct human mechanisms of promoting cooperation is rewarding it. We study the effect of sharing a reward among cooperators in the most stringent form of social dilemma, namely the Prisoner's Dilemma. Specifically, for a…
A principal uses payments conditioned on stochastic outcomes of a team project to elicit costly effort from the team members. We develop a multi-agent generalization of a classic first-order approach to contract optimization by leveraging…
Artificial agents capable of understanding and aligning with others' intentions are essential for safe and socially robust artificial intelligence. We introduce a computational framework for empathy in active inference agents, grounded in…
Preference Inference involves inferring additional user preferences from elicited or observed preferences, based on assumptions regarding the form of the user's preference relation. In this paper we consider a situation in which…
We study environments in which agents are randomly matched to play a Prisoner's Dilemma, and each player observes a few of the partner's past actions against previous opponents. We depart from the existing related literature by allowing a…
We study the design of optimal incentives in sequential processes. To do so, we consider a basic and fundamental model in which an agent initiates a value-creating sequential process through costly investment with random success. If…
A buyer and a seller bargain over the price of an object. Both players can build reputations for being obstinate by offering the same price over time. Before players bargain, the seller decides whether to adopt a new technology that can…
We introduce a new model of competition on growing networks. This extends the preferential attachment model, with the key property that node choices evolve simultaneously with the network. When a new node joins the network, it chooses…
We study the interaction between strategy, heterogeneity and growth in a two-agent model of capital accumulation. Preferences are represented by recursive utility functions with decreasing marginal impatience. The stationary equilibria of…
We study the evolution of behavioral rules in environments with multiple contexts. Agents copy rules used by better-performing peers in the same context and apply them across contexts. Multiple contexts turn discrete-time imitation dynamics…