This paper investigates opinion dynamics and social influence in directed communication networks. We study the properties of a generalized boundedly rational model of opinion formation in which individuals aggregate the information they receive by using weights that are a function of their...

We study learning and influence in a setting where agents communicate according to an arbitrary social network and naïvely update their beliefs by repeatedly taking weighted averages of their neighbors' opinions. A focus is on conditions under which beliefs of all agents in large societies...

Markets for complex, multi-faceted goods normally require a complex institutional framework to function properly, i.e., to lead to patterns of outcomes that are deemed acceptable by the individuals involved. This paper examines the institutional underpinnings of the market for urban land use...

This Article reconsiders the antitrust fairness-versus-welfare debate from an evolutionary perspective. It discusses the various arguments against applying fairness norms in antitrust cases and then sets forth the arguments for reincorporating fairness norms into antitrust analyses. Building...

Two parties bargaining over a pie, the size of which is determined by their previous investment decisions. The bargaining rule is sensitive to investment behavior. Two games are considered. In both, bargaining proceeds according to the Nash Demand Game when a symmetric investments profile is...