Related papers: Social learning moderates the tradeoffs between ef…
We study the roles of social and individual learning on outcomes of the Minority Game model of a financial market. Social learning occurs via agents adopting the strategies of their neighbours within a social network, while individual…
The theoretical study of social learning typically assumes that each agent's action affects only her own payoff. In this paper, I present a model in which agents' actions directly affect the payoffs of other agents. On a discrete time line,…
In large groups, every collaborative act requires balancing two pressures: the need to achieve behavioural synchrony and the need to keep free riding to a minimum. This paper introduces a model of collaboration that requires both…
The tradeoff between accuracy and speed is considered fundamental to individual and collective decision-making. In this paper, we focus on collective estimation as an example of collective decision-making. The task is to estimate the…
To survive in dynamic and uncertain environments, individuals must develop effective decision strategies that balance information gathering and decision commitment. Models of such strategies often prioritize either optimizing tangible…
Foraging is crucial for animals to survive. Many species forage in groups, as individuals communicate to share information about the location of available resources. For example, eusocial foragers, such as honey bees and many ants, recruit…
To succeed in their objectives, groups of individuals must be able to make quick and accurate collective decisions on the best option among a set of alternatives with different qualities. Group-living animals aim to do that all the time.…
Equipping current decision-making tools with notions of fairness, equitability, or other ethically motivated outcomes, is one of the top priorities in recent research efforts in machine learning, AI, and optimization. In this paper, we…
A selfish learner seeks to maximize their own success, disregarding others. When success is measured as payoff in a game played against another learner, mutual selfishness typically fails to produce the optimal outcome for a pair of…
Cultures around the world show varying levels of conservatism. While maintaining traditional ideas prevents wrong ones from being embraced, it also slows or prevents adaptation to new times. Without exploration there can be no improvement,…
More often than not, bad decisions are bad regardless of where and when they are made. Information sharing might thus be utilized to mitigate them. Here we show that sharing the information about strategy choice between players residing on…
Cooperation on social networks is crucial for understanding human survival and development. Although network structure has been found to significantly influence cooperation, human experiments have observed different cooperation phenomena…
Information foraging connects optimal foraging theory in ecology with how humans search for information. The theory suggests that, following an information scent, the information seeker must optimize the tradeoff between exploration by…
This paper considers social learning amongst rational agents (for example, sensors in a network). We consider three models of social learning in increasing order of sophistication. In the first model, based on its private observation of a…
The efficient use of available resources is a key factor in achieving success on both personal and organizational levels. One of the crucial resources in knowledge economy is time. The ability to force others to adapt to our schedule even…
The ability of biological and artificial collectives to outperform solitary individuals in a wide variety of tasks depends crucially on the efficient processing of social and environmental information at the level of the collective. Here,…
An online labor platform faces an online learning problem in matching workers with jobs and using the performance on these jobs to create better future matches. This learning problem is complicated by the rise of complex tasks on these…
Collective systems that self-organise to maximise the group's ability to collect and distribute information can be successful in environments with high spatial and temporal variation. Such organisations are abundant in nature, as sharing…
Information theory has explained the organization of many biological phenomena, from the physiology of sensory receptive fields to the variability of certain DNA sequence ensembles. Some scholars have proposed that information should…
This paper introduces a framework to study innovation in a strategic setting, in which innovators allocate their resources between exploration and exploitation in continuous time. Exploration creates public knowledge, while exploitation…