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The success of Large Language Models (LLMs) has sparked interest in various agentic applications. A key hypothesis is that LLMs, leveraging common sense and Chain-of-Thought (CoT) reasoning, can effectively explore and efficiently solve…
This study examines the lack of redistributive effectiveness of consumption-based tax systems with respect to social fairness. Through numerical simulations, we explore the wealth exchanges among economic agents subject to flat consumption…
Resource distribution is a fundamental problem in economic and policy design, particularly when demand and supply are not naturally aligned. Without regulation, wealthier individuals may monopolize this resource, leaving the needs of others…
In multimedia crowdsourcing, the requester's quality requirements and reward decisions will affect the workers' task selection strategies and the quality of their multimedia contributions. In this paper, we present a first study on how the…
In federated learning (FL), weighted aggregation of local models is conducted to generate a global model, and the aggregation weights are normalized (the sum of weights is 1) and proportional to the local data sizes. In this paper, we…
Decentralized resource allocation is a key problem for large-scale autonomic (or self-managing) computing systems. Motivated by a data center scenario, we explore efficient techniques for resolving resource conflicts via cooperative…
We examine the dynamics of informational efficiency in a market with asymmetrically informed, boundedly rational traders who adaptively learn optimal strategies using simple multiarmed bandit (MAB) algorithms. The strategies available to…
Until now, distributed algorithms for rational agents have assumed a-priori knowledge of $n$, the size of the network. This assumption is challenged here by proving how much a-priori knowledge is necessary for equilibrium in different…
Consider a marketplace of AI tools, each with slightly different strengths and weaknesses. By selecting the right model for the task at hand, a user can do better than simply committing to a single model for everything. Routers operate…
Large-scale registries have collected vast amounts of data which has enabled investigators to efficiently conduct studies of observational data. Common practice is for investigators to use all data meeting the inclusion criteria of their…
In our digital and connected societies, the development of social networks, online shopping, and reputation systems raises the question of how individuals use social information, and how it affects their decisions. We report experiments…
This paper evaluates the redistributive and efficiency impacts of expanding access to positive credit information in a financially excluded economy. Using microdata from Uruguay's 2021 household survey, we simulate three data regimes…
Artificial Intelligence's (AI) rapid development and growth not only transformed industries but also fired up important debates about its impacts on employment, resource allocation, and the ethics involved in decision-making. It serves to…
This research article analyses and demonstrates the hidden implications for fairness of seemingly neutral data coupled with powerful technology, such as machine learning (ML), using Open Banking as an example. Open Banking has ignited a…
Natural and artificial collectives exhibit heterogeneities across different dimensions, contributing to the complexity of their behavior. We investigate the effect of two such heterogeneities on collective opinion dynamics: heterogeneity of…
The financial and economic crisis recently experienced by many European countries has increased demand for timely, coherent and consistent distributional information for the household sector. In the Euro area, most of the NCBs collect such…
Labor share, the fraction of economic output accrued as wages, is inexplicably declining in industrialized countries. Whilst numerous prior works attempt to explain the decline via economic factors, our novel approach links the decline to…
Different models to study the wealth distribution in an artificial society have considered a transactional dynamics as the driving force. Those models include a risk aversion factor, but also a finite probability of favoring the poorer…
We study the associations between everyday economic decision-making quality and people's emotional states. Using high-frequency, highly disaggregated consumer "scanner" data, we show that the cost of poor decision-making is substantial, on…
When users access shared resources in a selfish manner, the resulting societal cost and perceived users' cost is often higher than what would result from a centrally coordinated optimal allocation. While several contributions in mechanism…