Related papers: How Big Data Dilutes Cognitive Resources, Interfer…
The amount of data has exploded over the last ten years. Data is captured and shared from personal devices, transactional operations, sensors, social media and other sources. Firms should, thus, be able to explore the new opportunities and…
In group foraging situations, the conventional expectation is that increased food availability would enhance consumption, especially when animals prioritize maximizing their food intake. This paper challenges this conventional wisdom by…
We study the welfare effects of overreaction to information in the form of diagnostic expectations in markets with asymmetric information, and the effect of a simple intervention in the form of a tax or a subsidy. A large enough level of…
The Cognitive Buffer Hypothesis (CBH) posits that larger brains evolved to enhance survival in changing conditions. However, larger brains also carry higher energy demands, imposing additional metabolic burdens. Alongside brain size, brain…
When consequential decisions are informed by algorithmic input, individuals may feel compelled to alter their behavior in order to gain a system's approval. Models of agent responsiveness, termed "strategic manipulation," analyze the…
Data-intensive applications often require exploratory analysis of large datasets. If analysis is performed on distributed resources, data locality can be crucial to high throughput and performance. We propose a "data diffusion" approach…
We develop a statistical framework for wealth allocation in which agents hold discrete units of wealth and macrostates are defined by how wealth is distributed across agents. The structure of the economic state space is characterized…
One of the major terminological forces driving ICT integration in research today is that of "big data." While the phrase sounds inclusive and integrative, "big data" approaches are highly selective, excluding input that cannot be…
Motivated by applications such as cloud platforms allocating GPUs to users or governments deploying mobile health units across competing regions, we study the dynamic allocation of a reusable resource to strategic agents with private…
In a co-evolutionary context, the survive probability of individual elements of a system depends on their relation with their neighbors. The natural selection process depends on the whole population, which is determined by local events…
We study an agent-based model of evolution of wealth distribution in a macro-economic system. The evolution is driven by multiplicative stochastic fluctuations governed by the law of proportionate growth and interactions between agents. We…
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…
Snapshots of "best" (or "worst") experience are known to dominate human memory and may thus also have a significant effect on future behaviour. We consider here a model of repeated decision-making where, at every time step, an agent takes…
The search task and the system both affect the demand on cognitive resources during information search. In some situations, the demands may become too high for a person. This article has a three-fold goal. First, it presents and critiques…
The utility company has many motivations for modifying energy consumption patterns of consumers such as revenue decoupling and demand response programs. We model the utility company--consumer interaction as a principal--agent problem. We…
This work investigates the ``small-vs-large gap'', where repeating on fewer samples can lead to compute saving during training compared to using a larger dataset. This is observed across algorithmic tasks, architectures and optimizers and…
As AI agents increasingly act on behalf of human stakeholders in economic settings, understanding their behavior in complex market environments becomes critical. This article examines how Large Language Models coordinate on markets that are…
A decision maker's utility depends on her action $a\in A \subset \mathbb{R}^d$ and the payoff relevant state of the world $\theta\in \Theta$. One can define the value of acquiring new information as the difference between the maximum…
Deploying large language model (LLM) agents in shared environments introduces a fundamental tension between individual alignment and collective stability: locally rational decisions can impose negative externalities that degrade…
We introduce a minimal agent-based model to qualitatively conceptualize the allocation of limited wealth among more abundant opportunities. We study the interplay of power, satisfaction and frustration in distribution, concentration, and…