Related papers: The Market Effects of Algorithms

Ranking algorithms are the information gatekeepers of the Internet era. We develop a stylized model to study the effects of ranking algorithms on opinion dynamics. We consider a search engine that uses an algorithm based on popularity and…

We look at discovering the impact of market microstructure on equitability for market participants at public exchanges such as the New York Stock Exchange or NASDAQ. Are these environments equitable venues for low-frequency participants…

As algorithms are increasingly applied to screen applicants for high-stakes decisions in employment, lending, and other domains, concerns have been raised about the effects of algorithmic monoculture, in which many decision-makers all rely…

Many companies rely on advertising platforms such as Google, Facebook, or Instagram to recruit a large and diverse applicant pool for job openings. Prior works have shown that equitable bidding may not result in equitable outcomes due to…

This paper examines how data inputs shape competition among artificial intelligences (AIs) in pricing games. The dataset assigns labels to consumers and divides them into different markets, thereby inducing multimarket contact among AIs. We…

Algorithmic-matching sites offer users access to an unprecedented number of potential mates. However, they also pose a principal-agent problem with a potential moral hazard. The agent's interest is to maximize usage of the Web site, while…

Racial disparity in academia is a widely acknowledged problem. The quantitative understanding of racial based systemic inequalities is an important step towards a more equitable research system. However, because of the lack of robust…

Algorithms in public services such as child welfare, criminal justice, and education are increasingly being used to make high-stakes decisions about human lives. Drawing upon findings from a two-year ethnography conducted at a child welfare…

Visualization dashboards are increasingly used in strategic settings like auctions to enhance decision-making and reduce strategic confusion. This paper presents behavioral experiments evaluating how different dashboard designs affect bid…

Systemic bias with respect to gender, race and ethnicity, often unconscious, is prevalent in datasets involving choices among individuals. Consequently, society has found it challenging to alleviate bias and achieve diversity in a way that…

Various forms of implications of artificial intelligence that either exacerbate or decrease racial systemic injustice have been explored in this applied research endeavor. Taking each thematic area of identifying, analyzing, and debating an…

Algorithms take decisions that affect humans, and have been shown to perpetuate biases and discrimination. Decisions by algorithms are subject to different interpretations. Algorithms' behaviors are basis for the construal of moral…

Algorithms that favor popular items are used to help us select among many choices, from engaging articles on a social media news feed to songs and books that others have purchased, and from top-raked search engine results to highly-cited…

The use of algorithmic decision making systems in domains which impact the financial, social, and political well-being of people has created a demand for these decision making systems to be "fair" under some accepted notion of equity. This…

Algorithmic predictions are emerging as a promising solution concept for efficiently allocating societal resources. Fueling their use is an underlying assumption that such systems are necessary to identify individuals for interventions. We…

Algorithmic pricing is increasingly shaping market competition, raising concerns about its potential to compromise competitive dynamics. While prior work has shown that reinforcement learning (RL)-based pricing algorithms can lead to tacit…

AI consumer markets are characterized by severe buyer-supplier market asymmetries. Complex AI systems can appear highly accurate while making costly errors or embedding hidden defects. While there have been regulatory efforts surrounding…

Rankings of people and items are at the heart of selection-making, match-making, and recommender systems, ranging from employment sites to sharing economy platforms. As ranking positions influence the amount of attention the ranked subjects…

An urban planner might design the spatial layout of transportation amenities so as to improve accessibility for underserved communities -- a fairness objective. However, implementing such a design might trigger processes of neighborhood…

Big data and machine learning (ML) algorithms are key drivers of many fintech innovations. While it may be obvious that replacing humans with machine would increase efficiency, it is not clear whether and where machines can make better…