Related papers: Reference Points, Risk-Taking Behavior, and Compet…
In science as elsewhere, attention is a limited resource and scientists compete with one another to produce the most exciting, novel and impactful results. We develop a game-theoretic model to explore how such competition influences the…
Reward schemes may affect not only agents' effort, but also their incentives to gather information to reduce the riskiness of the productive activity. In a laboratory experiment using a novel task, we find that the relationship between…
How do incentive levels affect strategic behaviour? We address this with an experiment that separately identifies own- and opponent-incentive effects in two dominance-solvable games that differ in strategic complexity. Higher own incentives…
Accurate time-to-event prediction is integral to decision-making, informing medical guidelines, hiring decisions, and resource allocation. Survival analysis, the quantitative framework used to model time-to-event data, accounts for patients…
Tournaments are frequently used incentive mechanisms to enhance performance. In this paper, we use field data and show that skill disparities among contestants asymmetrically affect the performance of contestants. Skill disparities have…
Every human action begins with decision-making. Stress is a significant source of biases that can influence human decision-making. In order to understand the relationship between stress and decision-making, stress quantification is…
Understanding how individuals make decisions involving risk is a fundamental aspect of behavioral research. Despite the ubiquity of risk in various aspects of life, limited empirical work has explored student risk-taking behavior in…
We examine how career concerns influence the behavior and mobility of financial advisers. Drawing on a uniquely comprehensive matched panel that combines employer-employee data with a longstanding national ranking, our study tests…
Strategic classification studies the design of a classifier robust to the manipulation of input by strategic individuals. However, the existing literature does not consider the effect of competition among individuals as induced by the…
I study how organisations choose selection procedures in a competitive environment. Two firms compete to hire candidates of unknown productivity from a common pool. Firms simultaneously post a selection procedure which consists of a test…
We study how increasing competition, by making prizes more unequal, affects effort in contests. In a finite type-space environment, we characterize the equilibrium, analyze the effect of competition under linear costs, and identify…
A competitive learning model was introduced in Ref. 1 (A. Mehta and J. M. Luck, Phys. Rev. E 60, 5, 1999), in which the learning is outcome-related. Every individual chooses between a pair of existing strategies or types, guided by a…
When modelling competing risks survival data, several techniques have been proposed in both the statistical and machine learning literature. State-of-the-art methods have extended classical approaches with more flexible assumptions that can…
We study how individuals trade off outcome ("what") and process ("how") utility in high-stakes strategic decisions, namely professional tennis. Using optimality conditions and the second-service rule, we derive a sufficient condition for…
This study investigates the effect of competition between individuals on population dynamics when they compete for different resources during different seasons or during different growth stages. Individuals are assumed to compete for a…
This paper is about the possible negative impact of excessive collaboration on the performance of top employees. With the rise of participatory culture and developments in communications technology, management practices require greater…
We are living in an uncertain and dynamically changing world, where optimal decision-making under uncertainty is directly linked to the survival of species. However, evolutionary selection pressures that shape value-based decision-making…
Techniques for decision making with knowledge of linear constraints on condition probabilities are examined. These constraints arise naturally in many situations: upper and lower condition probabilities are known; an ordering among the…
In the medical residency matching markets of the U.S. and Japan, we observe that an applicant's probability of matching with their first-listed program is disproportionately higher than that of matching with their second-listed program,…
We study the associations between everyday economic decision-making quality and people's emotional states. Using high-frequency, highly disaggregated consumer "scanner" data, we show that the cost of poor decision-making is substantial, on…