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IoT-based devices and wearable sensors are now common in daily life, with smartwatches, smartphones, and other digital tools tracking physical activity and health data. This lifelogging process provides valuable insights into people's…
I study the economic effects of testing during the outbreak of a novel disease. I propose a model where testing permits isolation of the infected and provides agents with information about the prevalence and lethality of the disease.…
We study the psychological and social impacts of exiting a national anti-poverty campaign, leveraging China's phase-out of its national poverty assistance as a natural experiment. Using a regression discontinuity design, we find that…
Cognitive dissonance is the stress that comes from holding two conflicting thoughts simultaneously in the mind, usually arising when people are asked to choose between two detrimental or two beneficial options. In view of the…
The quality of service in healthcare is constantly challenged by outlier events such as pandemics (i.e. Covid-19) and natural disasters (such as hurricanes and earthquakes). In most cases, such events lead to critical uncertainties in…
Humans quite frequently interact with conversational agents. The rapid advancement in generative language modeling through neural networks has helped advance the creation of intelligent conversational agents. Researchers typically evaluate…
Algorithmic recourse provides counterfactual action plans that help people overturn unfavorable AI decisions. While diverse recourse sets may improve transparency and motivation, they may also impose cognitive load and negative emotions by…
We use a controlled laboratory experiment to study the causal impact of income decreases within a time period on redistribution decisions at the end of that period, in an environment where we keep fixed the sum of incomes over the period.…
The cognitive research on reputation has shown several interesting properties that can improve both the quality of services and the security in distributed electronic environments. In this paper, the impact of reputation on decision-making…
It is commonly believed that patterns of social ties affect individuals' economic status. Here, we translate this concept into an operational definition at the network level, which allows us to infer the economic wellbeing of individuals…
Investment herding, a phenomenon where households mimic the decisions of others rather than relying on their own analysis, has significant effects on financial markets and household behavior. Excessive investment herding may reduce…
Choice decisions made by users of online applications can suffer from biases due to the users' level of engagement. For instance, low engagement users may make random choices with no concern for the quality of items offered. This biased…
Concerns about declining or ageing populations often centre on the fear that fewer people will translate to a weaker economy and lower living standards. But these fears are frequently based on oversimplified or misapplied interpretations of…
Motivated by agentic markets -- two-sided markets in which consumers and businesses are assisted by AI tools that facilitate consumers' search -- we study the impact of improved search technology on learning and welfare in markets. We put…
When inferring the causal effect of one variable on another from correlational data, a common practice by professional researchers as well as lay decision makers is to control for some set of exogenous confounding variables. Choosing an…
The question of how people form their opinion has fascinated economists and sociologists for quite some time. In many of the models, a group of people in a social network, each holding a numerical opinion, arrive at a shared opinion through…
Decisions taken in our everyday lives are based on a wide variety of information so it is generally very difficult to assess what are the strategies that guide us. Stock market therefore provides a rich environment to study how people take…
This paper presents a semi-quantitative mathematical model of the changes over time in the statistical distribution of well-being of individuals in a society. The model predicts that when individuals overvalue the more socially conspicuous…
Current theories of decision making suggest that the neural circuits in mammalian brains (including humans) computationally combine representations of the past (memory), present (perception), and future (agentic goals) to take actions that…
In many situations people make sequences of similar, but unrelated decisions. Such decision sequences are prevalent in many important contexts including judicial judgments, loan approvals, college admissions, and athletic competitions. A…