System resilience is the ability for complex, dynamic-adaptive socio-technical systems to absorb and rebound from trauma or stress, and to avoid "jousting with dragons" where results are uncertain and often fatal. In a safety context, the term "dragons" originates from Professor David Woods at...

There are major differences in regulation among various countries. A particular case is the difference between the EU and US in regulating biotechnology. We develop a formal and dynamic model of government decision-making on regulation. We show that minor differences in consumer preferences can...

Under dynamic random utility, an agent (or population of agents) solves a dynamic decision problem subject to evolving private information. We analyze the fully general and non-parametric model, axiomatically characterizing the implied dynamic stochastic choice behavior. A key new feature...

In this paper, we discuss the models of continuous dynamics on the 2-simplex that arise when different qualitative restrictions are imposed on the (continuous) functions that generate the dynamics on the 2-simplex. We consider three types of qualitative restrictions: inequality (or...

We provide an axiomatic analysis of dynamic random utility, characterizing the stochastic choice behavior of agents who solve dynamic decision problems by maximizing some stochastic process (U_t) of utilities. We show first that even when (U_t) is arbitrary, dynamic random utility imposes new...