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Regulation of advanced technologies such as Artificial Intelligence (AI) has become increasingly important, given the associated risks and apparent ethical issues. With the great benefits promised from being able to first supply such…
Take up of microcredit by the poor for investment in businesses or human capital turned out to be very low. We show that this could be explained by risk aversion, without relying on fixed costs or other forms of non-convexity in the…
Studying corruption presents unique challenges. Recent work in the spirit of computational social science exploits newly available data and methods to give a fresh perspective on this important topic. In this chapter we highlight some of…
Labor market institutions are central for modern economies, and their polices can directly affect unemployment rates and economic growth. At the individual level, unemployment often has a detrimental impact on people's well-being and…
Introduction. It is well known that social contact patterns differ from country to country. This variation coincides with significant socioeconomic heterogeneity that complicates the design of effective non-pharmaceutical interventions.…
In a recent paper, we analyzed the self-assembly of a complex cooperation network. The network was shown to approach a state where every agent invests the same amount of resources. Nevertheless, highly-connected agents arise that extract…
In capitalist societies, only a single right can be fully exerted without constraints of any kind: the limitless accumulation of wealth. Such imperative or prime axiom is the ultimate cause of the raising waves of inequalities observed…
The world is full of systems of distributed agents, collaborating and competing in complex ways: firms and workers specialise within economies, neurons adapt their tuning across brain circuits, and species compete and coexist within…
We study a general problem of allocating limited resources to heterogeneous customers over time under model uncertainty. Each type of customer can be serviced using different actions, each of which stochastically consumes some combination…
We demonstrate by mathematical analysis and systematic computer simulations that redistribution can lead to sustainable growth in a society. The human capital dynamics of each agent is described by a stochastic multiplicative process which,…
Disparities in lending to minority applicants persist even as algorithmic lending finds widespread adoption. We study the role of risk-management constraints, specifically Value-at-Risk ($\VaR$) and Expected Shortfall (ES), in inducing…
Credit risk rating is shown to be a relevant determinant in order to estimate good corporate governance and to self-optimize capital structure. The conclusion is argued from a study on a selected (and justified) sample of (182) companies…
Simple agent based exchange models are a commonplace in the study of wealth distribution in an artificial economy. Generally, in a system that is composed of many agents characterized by their wealth and risk-aversion factor, two agents are…
Many Stated Preference studies conducted in developing countries provide a low willingness to pay (WTP) for a wide range of goods and services. However, recent studies in these countries indicate that this may partly be a result of the…
Tax evasion causes severe losses of government revenues and disturbs the economic order of fair competition. To help alleviate this problem, the latest tax evasion detection solutions utilize expert knowledge to extract features and then…
We develop an agent-based simulation of the catastrophe insurance and reinsurance industry and use it to study the problem of risk model homogeneity. The model simulates the balance sheets of insurance firms, who collect premiums from…
Understanding whether uniquely quantum features can provide concrete advantages in thermodynamic processes is a central objective of quantum thermodynamics. A key challenge is quantifying how different forms of non-classicality can be…
Modeling and shaping how information spreads through a network is a major research topic in network analysis. While initially the focus has been mostly on efficiency, recently fairness criteria have been taken into account in this setting.…
One widely-existed state --``harmony with diversity" in which individuals freely express various viewpoints to sustain integration of social diversity, but at the same time shared values ensure social coherence, can be considered as the…
Can egalitarian norms or conventions survive the presence of dominant individuals who are ensured of victory in conflicts? We investigate the interaction of power asymmetry and partner choice in games of conflict over a contested resource.…