Related papers: Gatekeeping, Selection, and Welfare
Does greater connectivity enhance the value of public information? I study a networked beauty contest game where agents balance adaptation to the fundamental with local coordination. The analysis reveals a stark non-monotonicity: while…
Wealthy individuals may be less tempted to defect than those with comparatively low payoffs. To take this into consideration, we introduce coevolutionary success-driven multigames in structured populations. While the core game is always the…
This paper studies the value of a firm's internal information when the firm faces an adverse selection problem arising from unobservable managerial abilities. While more precise information allows the firm to make ex post more efficient…
In this paper, we study the exploration / exploitation trade-off in cellular genetic algorithms. We define a new selection scheme, the centric selection, which is tunable and allows controlling the selective pressure with a single…
This paper examines competitive information disclosure in search markets with a mix of savvy consumers, who search costlessly, and inexperienced consumers, who face positive search costs. Savvy consumers incentivize truthful disclosure;…
In a system of interdependent users, the security of an entity is affected not only by that user's investment in security measures, but also by the positive externality of the security decisions of (some of) the other users. The provision…
We study the trade-off between envy and inefficiency in repeated resource allocation settings with stochastic replenishments, motivated by real-world systems such as food banks and medical supply chains. Specifically, we consider a model in…
Experimental evidence confirms that AI tools raise worker productivity, but also that sustained use can erode the expertise on which those gains depend. We develop a dynamic model in which a decision-maker chooses AI usage intensity for a…
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…
In many real-world applications of reinforcement learning (RL), deployed policies have varied impacts on different stakeholders, creating challenges in reaching consensus on how to effectively aggregate their preferences. Generalized…
Dynamic pricing is commonly used to regulate congestion in shared service systems. This paper is motivated by the fact that in the presence of users with varying price sensitivity (responsiveness), conventional monotonic pricing can lead to…
This paper investigates the value of recommendations for disseminating economic information, with a focus on frictions resulting from preference heterogeneity. We consider Bayesian expected-payoff maximizers who receive non-strategic…
In evolutionary algorithms, the fitness of a population increases with time by mutating and recombining individuals and by a biased selection of more fit individuals. The right selection pressure is critical in ensuring sufficient…
We investigate a group choice problem of agents pursuing social status. We assume heterogeneous agents want to signal their private information (ability, income, patience, altruism, etc.) to others, facing tradeoff between "outside status"…
Using a model in which agents compete to develop a potentially dangerous new technology (AI), we study how changes in the pricing of factors of production (computational resources) affect agents' strategies, particularly their spending on…
Rewards and punishments in different forms are pervasive and present in a wide variety of decision-making scenarios. By observing the outcome of a sufficient number of repeated trials, one would gradually learn the value and usefulness of a…
Cache coherence protocols based on self-invalidation and self-downgrade have recently seen increased popularity due to their simplicity, potential performance efficiency, and low energy consumption. However, such protocols result in memory…
Meritocratic systems, from admissions to hiring, aim to impartially reward skill and effort. Yet persistent disparities across race, gender, and class challenge this ideal. Some attribute these gaps to structural inequality; others to…
The existing studies on consumer search agree that consumers are worse-off when they do not observe sellers' production marginal cost than when they do. In this paper we challenge this conclusion. Employing a canonical model of simultaneous…
Suppose that females choose males based on attributes that do not signal any genetic quality that is not related to the choice itself. Can being choosy confer selective advantage in this situation? We introduce correlated strategies, which…