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The objective of this study is applying a utility based analysis to a comparatively efficient design experiment which can capture people's perception towards the various components of a commodity. Here we studied the multi-dimensional…
Much research has been conducted on how consumption is related to human relations, for example, consumer communities organized around specific brands, or the way people use products to define their own identity and transmit a desired image.…
In a so-called overpopulated world, sustainable consumption is of existential importance.However, the expanding spectrum of product choices and their production complexity challenge consumers to make informed and value-sensitive decisions.…
A particular phenomenon of interest in Retail Economics is the spillover effect of anchor stores (specific stores with a reputable brand) to non-anchor stores in terms of customer traffic. Prior works in this area rely on small and…
Information sharing dynamics of social networks rely on a small set of influencers to effectively reach a large audience. Our recent results and observations demonstrate that the shape and identity of this elite, especially those…
This paper proposes a method for estimating consumer preferences among discrete choices, where the consumer chooses at most one product in a category, but selects from multiple categories in parallel. The consumer's utility is additive in…
The rapid growth in popularity and hype surrounding digital assets such as art, video, and music in the form of non-fungible tokens (NFTs) has made them a lucrative investment opportunity, with NFT-based sales surpassing $25B in 2021 alone.…
The consumption function maps current wealth and the exogenous state to current consumption. We prove the existence and uniqueness of a consumption function when the agent has a preference for wealth. When the period utility functions are…
We propose a consumption-investment decision model where past consumption peak $h$ plays a crucial role. There are two important consumption levels: the lowest constrained level and a reference level, at which the risk aversion in terms of…
Recommendation systems rely on user-provided data to learn about item quality and provide personalized recommendations. An implicit assumption when aggregating ratings into item quality is that ratings are strong indicators of item quality.…
This paper develops a practical framework for using observational data to audit the consumer surplus effects of AI-driven decisions, specifically in targeted pricing and algorithmic lending. Traditional approaches first estimate demand…
The non-fungible token (NFT) market emerges as a recent trading innovation leveraging blockchain technology, mirroring the dynamics of the cryptocurrency market. The current study is based on the capitalization changes and transaction…
The Non-Fungible-Token (NFT) market has experienced explosive growth in recent years. According to DappRadar, the total transaction volume on OpenSea, the largest NFT marketplace, reached 34.7 billion dollars in February 2023. However, the…
Non Fungible Tokens (NFTs) have gained a solid foothold within the crypto community, and substantial amounts of money have been allocated to their trades. In this paper, we studied one of the most prominent marketplaces dedicated to NFT…
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…
Graph based entropy, an index of the diversity of events in their distribution to parts of a co-occurrence graph, is proposed for detecting signs of structural changes in the data that are informative in explaining latent dynamics of…
This paper demonstrates how reinforcement learning can explain two puzzling empirical patterns in household consumption behavior during economic downturns. I develop a model where agents use Q-learning with neural network approximation to…
Explore-and-exploit tradeoffs play a key role in recommendation systems (RSs), aiming at serving users better by learning from previous interactions. Despite their commercial success, the societal effects of explore-and-exploit mechanisms…
Fashion compatibility models enable online retailers to easily obtain a large number of outfit compositions with good quality. However, effective fashion recommendation demands precise service for each customer with a deeper cognition of…
Recently, the booming fashion sector and its huge potential benefits have attracted tremendous attention from many research communities. In particular, increasing research efforts have been dedicated to the complementary clothing matching…