Related papers: Reinterpreting Delay and Procrastination
Intertemporal choices involve making decisions that require weighing the costs in the present against the benefits in the future. One specific type of intertemporal choice is the decision between purchasing an individual item or opting for…
In this paper, we consider a self-triggered formulation of model predictive control. In this variant, the controller decides at the current sampling instant itself when the next sample should be taken and the optimization problem be solved…
This paper studies a consensus problem in multidimensional networks having the same agent-to-agent interaction pattern under both intra- and cross-layer time delays. Several conditions for the agents to asymptotically reach a consensus are…
We study the problem of an agent continuously faced with the decision of placing or not placing trust in an institution. The agent makes use of Bayesian learning in order to estimate the institution's true trustworthiness and makes the…
This paper studies delegation in a model of discrete choice. In the delegation problem, an uninformed principal must consult an informed agent to make a decision. Both the agent and principal have preferences over the decided-upon action…
Most people are risk-averse (risk-seeking) when they expect to gain (lose). Based on a generalization of ``expected utility theory'' which takes this into account, we introduce an automaton mimicking the dynamics of economic operations.…
This paper studies a dynamic screening model in which a principal hires an agent with limited liability. The agent's private cost of working is an i.i.d. draw from a continuous distribution. His working status is publicly observable. The…
Complexity of the problem of choosing among uncertain acts is a salient feature of many of the environments in which departures from expected utility theory are observed. I propose and axiomatize a model of choice under uncertainty in which…
Temporal prediction is critical for making intelligent and robust decisions in complex dynamic environments. Motion prediction needs to model the inherently uncertain future which often contains multiple potential outcomes, due to…
Networked multi-agent dynamical systems have been used to model how individual opinions evolve over time due to the opinions of other agents in the network. Particularly, such a model has been used to study how a planning agent can be used…
A principal funds a multistage project and retains the right to cut the funding if it stagnates at some point. An agent wants to convince the principal to fund the project as long as possible, and can design the flow of information about…
As a firm varies the price of a product, consumers exhibit reference effects, making purchase decisions based not only on the prevailing price but also the product's price history. We consider the problem of learning such behavioral…
Ambiguity-averse decision makers typically dislike not only the presence of ambiguous events but also their increase, contrary to what standard ambiguity models predict. We axiomatically study such a decision maker. She avoids ex ante…
We present an end-to-end, model-based deep reinforcement learning agent which dynamically attends to relevant parts of its state during planning. The agent uses a bottleneck mechanism over a set-based representation to force the number of…
This paper shows how agents' choice in communicative action can be designed to mitigate the effect of their resource limits in the context of particular features of a collaborative planning task. I first motivate a number of hypotheses…
We present a novel model for capturing the behavior of an agent exhibiting sunk-cost bias in a stochastic environment. Agents exhibiting sunk-cost bias take into account the effort they have already spent on an endeavor when they evaluate…
In opinion dynamics, time delays in agent-to-agent interactions are ubiquitous, which can substantially disrupt the dynamical processes rooted in agents' opinion exchange, decision-making, and feedback mechanisms. However, a thorough…
I revisit the standard moral-hazard model, in which an agent's preference over contracts is rooted in costly effort choice. I characterise the behavioural content of the model in terms of empirically testable axioms, and show that the…
There is increasing focus on adapting predictive models into agent-like systems, most notably AI assistants based on language models. We outline two structural reasons for why these models can fail when turned into agents. First, we discuss…
Work on persona-persistent post-mortem agents typically frames design around a life/death binary. This framing neglects a consequential yet under-theorised condition: when individuals remain alive but have impaired decisional capacity.…