Whether an idea, information, or infection, diffuses throughout a society depends not only on the structure of the network of interactions, but also on the timing of those interactions. People are not always available to interact with others, and people differ in the timing of when they are...

We study the computations that Bayesian agents undertake when exchanging opinions over a network. The agents act repeatedly on their private information and take myopic actions that maximize their expected utility according to a fully rational posterior belief. We show that such computations are...

Using proprietary geocoded data from the Panel Study of Income Dynamics, I examine whether local racial integration influences financial decision-making. I find that individuals residing in racially integrated communities are more likely to invest in public equity markets after accounting for...

Trait-based personality psychology and economics have taken different approaches to understanding individual differences, with the former emphasizing variables derived from the factor analysis of trait assessments, and the latter emphasizing variables derived from formal decision theory. In a...

Trait-based personality psychology and economics have taken different approaches to understanding individual differences, with the former emphasizing variables derived from the factor analysis of trait assessments, and the latter emphasizing variables derived from formal decision theory. In a...

The use of coarse categories is prevalent in various situations and has been linked to biased economic outcomes, ranging from discrimination against minorities to empirical anomalies in financial markets. In this paper we study economic rationales for categorizing coarsely. We think of the way...

We survey the literature on multi-armed bandit models and their applications in economics. The multi-armed bandit problem is a statistical decision model of an agent trying to optimize his decisions while improving his information at the same time. This classic problem has received much...

We study a model of strategic persuasion based on the theory of cheap talk, in which a better-informed agent manipulates two decision-makers' joint decision on alternative proposals. With the heterogeneity of two decision-makers' value of the outside option, only the decision-maker with the...

Strategic decisions are affected by beliefs about the expectations of others and their possible decisions. Thus, strategic decisions are influenced by the social context and by beliefs about other actors’ levels of sophistication. The present study investigated whether strategic...

This paper extends the model of information cascade (Bikhchandani, Hirshleifer, and Welch, 1992) by introducing two correlated queues of players. By comparing the equilibrium outcomes of the two-queue game with the benchmark one-queue game, this paper finds out that the observability of...