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We analyze statistical discrimination in hiring markets using a multi-armed bandit model. Myopic firms face workers arriving with heterogeneous observable characteristics. The association between the workers skill and characteristics is unknown ex ante; thus, firms need to learn it. Laissez-faire causes perpetual underestimation: minority workers are rarely hired, and therefore, underestimation towards them tends to persist. Even a slight population-ratio imbalance frequently produces perpetual underestimation. We propose two policy solutions: a novel subsidy rule (the hybrid mechanism) and the Rooney Rule. Our results indicate that temporary affirmative actions effectively mitigate discrimination caused by insufficient data.
We consider a multi-round auction setting motivated by pay-per-click auctions for Internet advertising. In each round the auctioneer selects an advertiser and shows her ad, which is then either clicked or not. An advertiser derives value from clicks;
We study the implications of endogenous pricing for learning and welfare in the classic herding model . When prices are determined exogenously, it is known that learning occurs if and only if signals are unbounded. By contrast, we show that learning
Base station (BS) placement in mobile networks is critical to the efficient use of resources in any communication system and one of the main factors that determines the quality of communication. Although there is ample literature on the optimum place
The successful launch of electric vehicles (EVs) depends critically on the availability of convenient and economic charging facilities. The problem of scheduling of large-scale charging of EVs by a service provider is considered. A Markov decision pr
In this paper, we consider a network of consumers who are under the combined influence of their neighbors and external influencing entities (the marketers). The consumers opinion follows a hybrid dynamics whose opinion jumps are due to the marketing