Related papers: Happier World with More Information

The minority model was introduced to study the competition between agents with limited information. It has the remarkable feature that, as the amount of information available increases, the collective gain made by the agents is reduced.…

We study the population genetics of Evolution in the important special case of weak selection, in which all fitness values are assumed to be close to one another. We show that in this regime natural selection is tantamount to the…

In this article we study the stable marriage game induced by the men-proposing Gale-Shapley algorithm. Our setting is standard: all the lists are complete and the matching mechanism is the men-proposing Gale-Shapley algorithm. It is well…

Traditional economic models typically treat private information, or signals, as generated from some underlying state. Recent work has explicated alternative models, where signals correspond to interpretations of available information. We…

Does greater connectivity enhance the value of public information? I study a networked beauty contest game where agents balance adaptation to the fundamental with local coordination. The analysis reveals a stark non-monotonicity: while…

We introduce a "high probability" framework for repeated games with incomplete information. In our non-equilibrium setting, players aim to guarantee a certain payoff with high probability, rather than in expected value. We provide a high…

In human society, a lot of social phenomena can be concluded into a mathematical problem called the bipartite matching, one of the most well known model is the marriage problem proposed by Gale and Shapley. In this article, we try to find…

Choice overload occurs when individuals feel overwhelmed by an excessive number of options. Experimental evidence suggests that a larger selection can complicate the decision-making process. Consequently, choice satisfaction may diminish…

Confidence is an essential ingredient of success in a wide range of domains ranging from job performance and mental health, to sports, business, and combat. Some authors have suggested that not just confidence but overconfidence-believing…

We study a communication game between an informed sender and an uninformed receiver with repeated interactions and voluntary transfers. Transfers motivate the receiver's decision-making and signal the sender's information. Although full…

This article studies the value of information in route choice decisions when a fraction of players have access to high accuracy information about traffic incidents relative to others. To model such environments, we introduce a Bayesian…

The paper presents a hierarchical Bayesian model for simultaneous inference of tournament graphs and informant error. From multiple informant reports or measurement instrument outputs, the model estimates the structure of a criterion (i.e.,…

This model offers a compelling explanation for the observed decline in fertility rates in developed countries, correlating it with the rising economic status of women, and thereby providing valuable insights for policy-making. In summary,…

A general notion of information-related complexity applicable to both natural and man-made systems is proposed. The overall approach is to explicitly consider a rational agent performing a certain task with a quantifiable degree of success.…

The technological revolution of the Internet has digitized the social, economic, political, and cultural activities of billions of humans. While researchers have been paying due attention to concerns of misinformation and bias, these…

We consider games in which players search for a hidden prize, and they have asymmetric information about the prize location. We study the social payoff in equilibria of these games. We present sufficient conditions for the existence of an…

We investigate in this paper the theory and econometrics of optimal matchings with competing criteria. The surplus from a marriage match, for instance, may depend both on the incomes and on the educations of the partners, as well as on…

We propose a generalization of the classical stable marriage problem. In our model, the preferences on one side of the partition are given in terms of arbitrary binary relations, which need not be transitive nor acyclic. This generalization…

This paper reports experimental data describing the dynamics of three key information-sharing outcomes: quantity of information shared, falsification and accuracy. The experimental design follows a formal model predicting that cooperative…

Complex dynamical systems driven by the unravelling of information can be modelled effectively by treating the underlying flow of information as the model input. Complicated dynamical behaviour of the system is then derived as an output.…