Related papers: Beyond the Median Voter Theorem: A New Framework f…
This paper is concerned with non-zero sum differential games of mean-field stochastic differential equations with partial information and convex control domain. First, applying the classical convex variations, we obtain stochastic maximum…
We introduce a microscopic model of interacting financial agents, where each agent is characterized by two portfolios; money invested in bonds and money invested in stocks. Furthermore, each agent is faced with an optimization problem in…
A public decision-making problem consists of a set of issues, each with multiple possible alternatives, and a set of competing agents, each with a preferred alternative for each issue. We study adaptations of market economies to this…
This work presents a novel policy iteration algorithm to tackle nonzero-sum stochastic impulse games arising naturally in many applications. Despite the obvious impact of solving such problems, there are no suitable numerical methods…
In this paper, we address the challenge of Nash equilibrium (NE) seeking in non-cooperative convex games with partial-decision information. We propose a distributed algorithm, where each agent refines its strategy through projected-gradient…
In this paper, the problem of finding a Nash equilibrium of a multi-player game is considered. The players are only aware of their own cost functions as well as the action space of all players. We develop a relatively fast algorithm within…
We consider a market in which capacity-constrained generators compete in scalar-parameterized supply functions to serve an inelastic demand spread throughout a transmission constrained power network. The market clears according to a…
We propose a new dynamics for equilibrium selection of finite player discrete strategy games. The dynamics is motivated by optimal transportation, and models individual players' myopicity, greedy and uncertainty when making decisions. The…
Third political parties are influential in shaping American politics. In this work we study the spread of a third party ideology in a voting population where we assume that party members/activists are more influential in recruiting new…
We study the problem of aggregating distributions, such as budget proposals, into a collective distribution. An ideal aggregation mechanism would be Pareto efficient, strategyproof, and fair. Most previous work assumes that agents evaluate…
Inspired by successful biological collective decision mechanisms such as honey bees searching for a new colony or the collective navigation of fish schools, we consider a mean field games (MFG)-like scenario where a large number of agents…
We study mechanisms for candidate selection that seek to minimize the social cost, where voters and candidates are associated with points in some underlying metric space. The social cost of a candidate is the sum of its distances to each…
We analyze the stability of a nonlinear dynamical model describing the noncooperative strategic interactions among the agents of a finite collection of populations. Each agent selects one strategy at a time and revises it repeatedly…
Under the assumption of complete rationality, Nash equilibrium is the only reasonable strategy (set) of the finitely repeated prisoner's dilemma. In fact, some strategies only slightly deviate from the so-called rationality, and the…
The empirical analysis of discrete complete-information games has relied on behavioral restrictions in the form of solution concepts, such as Nash equilibrium. Choosing the right solution concept is crucial not just for identification of…
For centuries, it has been widely believed that the influence of a small coalition of voters is negligible in a large election. Consequently, there is a large body of literature on characterizing the likelihood for an election to be…
This paper investigates an infinite-horizon problems in the one-dimensional calculus of variations, arising from the Ramsey model of endogeneous economic growth. Following Chichilnisky, we introduce an additional term, which models concern…
Traditional survey-based political issue polling is becoming less tractable due to increasing costs and risk of bias associated with growing non-response rates and declining coverage of key demographic groups. With researchers and pollsters…
Research on the causes of political polarization points towards multiple drivers of the problem, from social and psychological to economic and technological. However, political institutions stand out, because -- while capable of…
Saddle point with a given Morse index on a potential energy surface is an important object related to energy landscape in physics and chemistry. Efficient numerical methods based on iterative minimization formulation have been proposed in…