Related papers: Quantity Limits on Addictive Goods
Substance abuse is the unrestrained and detrimental use of psychoactive chemical substances, unauthorized drugs, and alcohol. Continuous use of these substances can ultimately lead a human to disastrous consequences. As patients display a…
Do price regulations lead to inefficiencies and trade loss? The answer depends on the type of regulation, monetary and non-monetary factors influencing demand, technological factors affecting supply elasticities, difference between…
We consider a model where an agent is must choose between alternatives that each provide only an imprecise description of the world (e.g. linguistic expressions). The set of alternatives is closed under logical conjunction and disjunction,…
We employ an agent-based model for cultural dynamics to investigate the effects of spatial heterogeneities on the collective behavior of a social system. We introduce heterogeneity as a random distribution of defects or imperfections in a…
This paper solves the problem of optimal dynamic consumption, investment, and healthcare spending with isoelastic utility, when natural mortality grows exponentially to reflect Gompertz' law and investment opportunities are constant.…
It is critical to understand and model the behavior of individuals in a pandemic, as well as identify effective ways to guide people's behavior in order to better control the epidemic spread. However, current research fails to account for…
Epidemics of infectious diseases posing a serious risk to human health have occurred throughout history. During recent epidemics there has been much debate about policy, including how and when to impose restrictions on behaviour.…
The relationship of policy choice by majority voting and by maximization of utilitarian welfare has long been discussed. I consider choice between a status quo and a proposed policy when persons have interpersonally comparable cardinal…
We study consumption dependence in the context of random utility and repeated choice. We show that, in the presence of consumption dependence, the random utility model is a misspecified model of repeated rational choice. This…
How should one assess the credibility of assumptions weaker than statistical independence, like quantile independence? In the context of identifying causal effects of a treatment variable, we argue that such deviations should be chosen…
Decision makers often aim to learn a treatment assignment policy under a capacity constraint on the number of agents that they can treat. When agents can respond strategically to such policies, competition arises, complicating estimation of…
A class of heterogeneous agent models is investigated where investors switch trading position whenever their motivation to do so exceeds some critical threshold. These motivations can be psychological in nature or reflect behaviour…
Measuring and evaluating software quality has become a fundamental task. Many models have been proposed to support stakeholders in dealing with software quality. However, in most cases, quality models do not fit perfectly for the target…
When utilities are additive, we uncovered in our previous paper (Bogomolnaia et al. "Dividing Goods or Bads under Additive Utilities") many similarities but also surprising differences in the behavior of the familiar Competitive rule (with…
The impact of rising consumption on wealth inequality remains an open question. Here we revisit and extend the Social Architecture of Capitalism agent-based model proposed by Ian Wright, which reproduces stylized facts of wealth and income…
Constraints such as separation-of-duty are widely used to specify requirements that supplement basic authorization policies. However, the existence of constraints (and authorization policies) may mean that a user is unable to fulfill…
Individual resource intake rates are known to depend on both individual body size and resource availability. Here, we have developed a model to integrate these two drivers, accounting explicitly for the scaling of perceived resource…
We study price regulation for a monopolist operating in networked markets with demand spillovers. Achieving efficiency requires price reductions proportional to consumers' Katz-Bonacich centralities, which generally cannot be implemented by…
Despite a growing desire among consumers to shop responsibly, translating this intention into behaviour remains challenging. Previous work has identified that information seeking (or lack thereof) is a contributing factor to this…
The goal of this article is to investigate how human participants allocate their limited time to decisions with different properties. We report the results of two behavioral experiments. In each trial of the experiments, the participant…