Related papers: Do Activists Align with Larger Mutual Funds?
Money is central in US politics, and most campaign contributions stem from a tiny, wealthy elite. Like other political acts, campaign donations are known to be socially contagious. We study how campaign donations diffuse through a network…
We consider a social choice problem where only a small number of people out of a large population are sufficiently available or motivated to vote. A common solution to increase participation is to allow voters use a proxy, that is, transfer…
This paper explores designing artificial organizations with professional behavior in investments using a multi-agent simulation. The method mimics hierarchical decision-making in investment firms, using news articles to inform decisions. A…
Seed fundraising for ventures often takes place by sequentially approaching potential contributors, who make observable decisions. The fundraising succeeds when a target number of investments is reached. Though resembling classic…
Political polarization can be beneficial to competing political parties. I study how electoral competition itself generates incentives to polarize voters, even when parties are ex ante identical and motivated purely by political power,…
The paper analyses the increasing popularity of large funds in the secondary private equity market, which are pegged on the perceived larger scale advantages of operational efficiency and fewer manager relationships (Reuter & Zitzewitz,…
Results in the Heterogeneous Agent Model (HAM) literature determine the proportion of fundamentalists and trend followers in the financial market. This proportion varies according to the periods analyzed. In this paper, we use a large…
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…
We study how shareholder values shape firms' costly prosocial actions and who bears their costs. We develop a model in which some shareholders are publicly associated with a firm (e.g., founders or other prominent individual blockholders).…
As AI agents become more autonomous, properly aligning their objectives with human preferences becomes increasingly important. We study how effectively an AI agent learns a human principal's preference in choice under risk via stated versus…
We consider a group of mean-variance investors with mimicking desire such that each investor is willing to penalize deviations of his portfolio composition from compositions of other group members. Penalizing norm constraints are already…
The dynamics of many socioeconomic systems is determined by the decision making process of agents. The decision process depends on agent's characteristics, such as preferences, risk aversion, behavioral biases, etc.. In addition, in some…
Goods and services -- public housing, medical appointments, schools -- are often allocated to individuals who rank them similarly but differ in their preference intensities. We characterize optimal allocation rules when individual…
We present a model of interacting multiple choices of opinions. At each step of the process, a listener is persuaded by his/her neighbour, the lobbyist, to modify his/her opinion on two different choices of event. Whether or not the…
Agent-based models provide a constructive approach to studying emergent dynamics in life-like systems composed of interacting, adaptive agents. Financial markets serve as a canonical example of such systems, where collective price dynamics…
Multi-agent systems - systems with multiple independent AI agents working together to achieve a common goal - are becoming increasingly prevalent in daily life. Drawing inspiration from the phenomenon of human group social influence, we…
This study investigates adversarial attacks conducted to distort voter model dynamics in complex networks. Specifically, a simple adversarial attack method is proposed to hold the state of opinions of an individual closer to the target…
A fund manager invests both the fund's assets and own private wealth in separate but potentially correlated risky assets, aiming to maximize expected utility from private wealth in the long run. If relative risk aversion and investment…
We consider situations where consumers are aware that a statistical model determines the price of a product based on their observed behavior. Using a novel experiment varying the context similarity between participant data and a product, we…
We study opinion dynamics over a directed multilayer network. In particular, we consider networks in which the impact of neighbors of agents on their opinions is proportional to their in-degree. Agents update their opinions over time to…