相关论文: Climate Change Adaptation under Heterogeneous Beli…
It is well-established that human activity is driving extreme weather patterns, and that these extreme events influence human behaviour. However, few models allow for human behaviours and the climate to dynamically interact. The models…
Consensus formation is pivotal in multi-agent systems (MAS), balancing collective coherence with individual diversity. Conventional LLM-based MAS primarily rely on explicit coordination, e.g., prompts or voting, risking premature…
We introduce and discuss kinetic models describing the influence of the competence in the evolution of decisions in a multi-agent system. The original exchange mechanism, which is based on the human tendency to compromise and change opinion…
This paper investigates portfolio selection within a continuous-time financial market with regime-switching and beliefs-dependent utilities. The market coefficients and the investor's utility function both depend on the market regime, which…
We study evolutionary dynamics in which firms endogenously revise the behavioral rules that govern strategy revisions in symmetric Cournot oligopoly. Specifically, we consider two principles that guide rule revision, No-Birth and…
This paper describes an agent-based model of interacting firms, in which interacting firm agents rationally invest capital and labor in order to maximize payoff. Both transactions and production are taken into account in this model. First,…
Decision-making individuals often imitate their highest-earning fellows rather than optimize their own utilities, due to bounded rationality and incomplete information. Perpetual fluctuations between decisions have been reported as the…
How do inter-organizational networks emerge? Accounting for interdependence among ties while studying tie formation is one of the key challenges in this area of research. We address this challenge using an equilibrium framework where firms'…
We develop a three-timescale framework for modelling climate change and introduce a space-heterogeneous one-dimensional energy balance model. This model, addressing temperature fluctuations from rising carbon dioxide levels and the…
Using a firm-level dataset from the Spanish Technological Innovation Panel (2003-2016), this study explores the characteristics of environmentally innovative firms and quantifies the effects of pursuing different types of environmental…
For a society to remain healthy and prosperous, people must collectively behave and act to contribute to the common good, even if there is often a tradeoff against their individual benefit. Paradigmatic examples include the adoption of…
In robust optimization one seeks to make a decision under uncertainty, where the goal is to find the solution with the best worst-case performance. The set of possible realizations of the uncertain data is described by a so-called…
Miscalibrated beliefs are widely viewed as compromising the quality of employees' decisions. Why, then, might an organization prefer to hire an individual known to be overconfident? This paper develops a theory of organizational demand for…
The current framework for climate change negotiation models presents several limitations that warrant further research and development. In this track, we discuss mainly two key areas for improvement, focusing on the geographical impacts and…
This paper considers dynamic moral hazard settings, in which the consequences of the agent's actions are not precisely understood. In a new continuous-time moral hazard model with drift ambiguity, the agent's unobservable action translates…
We experimentally study a game in which success requires a sufficient total contribution by members of a group. There are significant uncertainties surrounding the chance and the total effort required for success. A theoretical model with…
Organisations, whether in government, industry or commerce, are required to make decisions in a complex and uncertain environment. The way models are used is intimately connected to the way organisations make decisions and the context in…
This paper examines strategic trading under incomplete information, where firms lack full knowledge of key aspects of their competitors' trading strategies such as target sizes and market impact models. We extend previous work on…
This paper studies the equilibrium price of an asset that is traded in continuous time between N agents who have heterogeneous beliefs about the state process underlying the asset's payoff. We propose a tractable model where agents maximize…
We study the evolution of behavioral rules in environments with multiple contexts. Agents copy rules used by better-performing peers in the same context and apply them across contexts. Multiple contexts turn discrete-time imitation dynamics…