Related papers: Happier World with More Information
Real-world systems are characterized by complex interactions of their internal degrees of freedom, while living in ever-changing environments whose net effect is to act as additional couplings. Here, we introduce a paradigmatic interacting…
This paper studies matching markets where institutions are matched with possibly more than one individual. The matching market contains some couples who view the pair of jobs as complements. First, we show by means of an example that a…
This paper gives an overview on and summarizes existing complexity and algorithmic results of some variants of the Stable Marriage and the Stable Roommates problems. The last section defines a list of stable matching problems mentioned in…
We study games with incomplete information and characterize when a feasible outcome is Pareto efficient. Outcomes with excessive randomization are inefficient: generically, the total number of action profiles across states must be strictly…
AI and ML models have already found many applications in critical domains, such as healthcare and criminal justice. However, fully automating such high-stakes applications can raise ethical or fairness concerns. Instead, in such cases,…
We derive a simple mathematical "theory" to show that two decision-making entities can work better together only if at least one of them is occasionally willing to stay neutral. This provides a mathematical "justification" for an age-old…
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…
We show, both numerically and analytically, that the consequences of 'wiring up' a competitive population depend quite dramatically on the interplay between the local connectivity and the global resources. With modest global resources,…
When human agents come together to make decisions, it is often the case that one human agent has more information than the other. This phenomenon is called information asymmetry and this distorts the market. Often if one human agent intends…
Despite the obvious advantage of simple life forms capable of fast replication, different levels of cognitive complexity have been achieved by living systems in terms of their potential to cope with environmental uncertainty. Against the…
Data buyers compete in a game of incomplete information about which a single data seller owns some payoff-relevant information. The seller faces a joint information- and mechanism-design problem: deciding which information to sell, while…
The practice of marriage is an understudied phenomenon in behavioural sciences despite being ubiquitous across human cultures. This modelling paper shows that replacing distant direct kin with in-laws increases the interconnectedness of the…
We explore the state of information disruption caused by the cocktail party effect within the framework of non-perfect information games and evolutive games with multiple werewolves. In particular, we mathematically model and analyze the…
The distribution of efficient individuals in the economy and the efforts that they will put in if they are hired, there are two important concerns for a technologically advanced firm. wants to open a new branch. The firm does not have…
We present, solve and numerically simulate a simple model that describes the consequences of increased longevity on fertility rates, population growth and the distribution of wealth in developed societies. We look at the consequences of the…
In a dynamic matching market, such as a marriage or job market, how should agents balance accepting a proposed match with the cost of continuing their search? We consider this problem in a discrete setting, in which agents have cardinal…
Interaction strategies for reward in competitive environments are significantly influenced by the nature and extent of available information. In financial markets, particularly foreign exchange (forex), traders operate independently with…
We study the classical, two-sided stable marriage problem under pairwise preferences. In the most general setting, agents are allowed to express their preferences as comparisons of any two of their edges and they also have the right to…
In order to get strategic positioning for competition in business organization, the information system must be ahead in this information age where the information as one of the weapons to win the competition and in the right hand the…
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…