This paper introduces a social learning algorithm for recursive decision problems faced by players in large anonymous games. The algorithm keeps track of only the distributions of agents over possible state-action pairs. State update, value update and behavior update constitute the three stages...

We study two different modes of social influence on human or artificial decision makers operating in complex environments. One is through emulation of social values, and the other is through social recommendations for specific actions. In an economic environment where agents make trade and...

The shock waves of the 2008-09 global financial crisis and the 2011-12 Eurozone debt crisis hit emerging markets from the trade, the finance and the expectations channels. We focus on the finance channel in this paper. We first discuss the challenges arising from capital flow volatility in...