Theory Seminar: Rationality, Efficiency and Agreement in Markets and in Social Networks

דובר:
עומר תמוז (מכון ויצמן למדע)
תאריך:
יום רביעי, 9.11.2011, 12:30
מקום:
טאוב 201

We will discuss some models of interacting economic agents on social networks. The first part of the talk will include a short introduction to the topic, including:
- Why assume agents are rational? What does it mean to be rational?
- When is it computationally feasible to be rational?
- When does interaction eventually lead to agreement, and when can disagreement persist indefinitely?
- When does interaction lead to efficient aggregation of information, and when is information lost?

In the second part of the talk we will describe recent results showing that the phenomena of agreement and efficiency are related in a wide spectrum of models. In particular, under different conditions, we will show that agents that reach consensus are bound to learn from each other in the process.

Joint work with Elchanan Mossel and Allan Sly

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