Related papers: Dynamic Correlation as an Incentive Device
It is generally believed that in a situation where individual and collective interests are in conflict, the availability of optional participation is a key mechanism to maintain cooperation. Surprisingly, this effect is sensitive to the use…
Game dynamics, which describe how agents' strategies evolve over time based on past interactions, can exhibit a variety of undesirable behaviours including convergence to suboptimal equilibria, cycling, and chaos. While central planners can…
This paper examines signalling when the sender exerts effort and receives benefits over time. Receivers only observe a noisy public signal about the effort, which has no intrinsic value. The modelling of signalling in a dynamic context…
We present a continuous-time contract whereby a top-level player can incentivize a hierarchy of players below him to act in his best interest despite only observing the output of his direct subordinate. This paper extends Sannikov's…
We examine how career concerns influence the behavior and mobility of financial advisers. Drawing on a uniquely comprehensive matched panel that combines employer-employee data with a longstanding national ranking, our study tests…
Direct reciprocity is a mechanism for the evolution of cooperation in repeated social interactions. According to this literature, individuals naturally learn to adopt conditionally cooperative strategies if they have multiple encounters…
Heterogeneity in individual characteristics and behaviour is a fundamental property of complex dynamical systems. While previous studies on evolutionary dynamics of strategies evolution in various systems have predominantly focused on the…
Coordinating the behaviour of self-interested agents in the presence of multiple Nash equilibria is a major research challenge for multi-agent systems. Pre-game communication between all the players can aid coordination in cases where the…
Indirect reciprocity is a mechanism by which individuals cooperate with those who have cooperated with others. This creates a regime in which repeated interactions are not necessary to incent cooperation (as would be required for direct…
This paper focuses on the coordination of a large population of dynamic agents with private information over multiple periods. Each agent maximizes the individual utility, while the coordinator determines the market rule to achieve group…
Randomized experiments can be susceptible to selection bias due to potential non-compliance by the participants. While much of the existing work has studied compliance as a static behavior, we propose a game-theoretic model to study…
In an information aggregation game, a set of senders interact with a receiver through a mediator. Each sender observes the state of the world and communicates a message to the mediator, who recommends an action to the receiver based on the…
Imitation is an important learning heuristic in animal and human societies. Previous explorations report that the fate of individuals with cooperative strategies is sensitive to the protocol of imitation, leading to a conundrum about how…
Human-robot collaboration is on the rise. Robots need to increasingly improve the efficiency and smoothness with which they assist humans by properly anticipating a human's intention. To do so, prediction models need to increase their…
This paper uses Nash equilibrium reversion as an optimal tool for clearing dynamic prices and wages. Various exogenous competitive rigidities determine the balanced growth path of the efficiency wage and the outcome of repeated…
This paper proposes $\mathbf{C}$ommunication efficient $\mathbf{RE}$cursive $\mathbf{D}$istributed estimati$\mathbf{O}$n algorithm, $\mathcal{CREDO}$, for networked multi-worker setups without a central master node. $\mathcal{CREDO}$ is…
We consider tit-for-tat dynamics in production markets, where there is a set of $n$ players connected via a weighted graph. Each player $i$ can produce an eponymous good using its linear production function, given as input various amounts…
Residential Demand Response has emerged as a viable tool to alleviate supply and demand imbalances of electricity, particularly during times when the electric grid is strained due a shortage of supply. Demand Response providers bid…
In many situations, communication between agents is a critical component of cooperative multi-agent systems, however, it can be difficult to learn or evolve. In this paper, we investigate a simple way in which the emergence of communication…
How to promote the innovative activities is an important problem for modern society. In this paper, combining with the evolutionary games and information spreading, we propose a lattice model to investigate dynamics of human innovative…