David Goldbaum

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Recognizing that the economy is a complex system with boundedly rational interacting agents, the book presents a theory of behavioral rationality and heterogeneous expectations in complex economic systems and confronts the nonlinear dynamic models with empirical stylized facts and laboratory experiments. The complexity modeling paradigm has been strongly(More)
A social network in which individuals seek to be early adopters of a popular trend has as its equilibrium structure a (unique) leader and hierarchy of followers. The analysis generating this equilibrium fails to offer a mechanism for the equilibrium to emerge from an initially unstructured social environment. A dynamic model with evolving social links is(More)
In a sample of 104 elderly nursing home residents, collapsed ear canals were found in 41% of the subjects. Age emerged as a significant factor in these data since collapsed ear canals were significantly more common among the nursing home residents that were age 80 or over. Based on these findings, mean hearing threshold data on this population will(More)
In the Service Web, customers’ feedback constitutes a substantial component of Web Service reputation and trustworthiness, which in turn impacts the service uptake by consumers in the future. This paper presents an approach to predict reputation in service-oriented environments. For assessing a Web Service reputation, we define reputation key(More)
The paper analyzes the intensity of choice in an agent based financial optimization problem. Mean-variance optimizing agents choose among mutual funds of similar styles but varying performance. We specify a model for the allocation of new funds, switching between funds, and withdrawals and obtain statistically significant estimates of the intensity of(More)
The activity of passive content consumers on social media sites is typically difficult to measure. This paper explores the activity of a subset of such consumers by looking at the influence on Wikipedia pageviews of one large Reddit community which frequently links to Wikipedia articles. The subreddit used in this analysis, /r/todayilearned (TIL), features(More)
A dynamic model with learning and adaptation captures the evolution in trader beliefs and trading strategies. Through a process of learning and observation, traders improve their understanding of the market. Traders also engage in a process of adaptation by switching between trading strategies based on past performance. The asymptotic properties are derived(More)
We develop a dynamic model of skill acquisition and performance in a tournament setting. Comparative statics suggest how the distribution of performance may change in response to changes in total and relative compensation. The model is explored empirically by examining trends in professional golf earnings distributions. The empirical work indicates that the(More)