Related papers: Efficient Value of Information Computation
Nowadays new technologies, and especially artificial intelligence, are more and more established in our society. Big data analysis and machine learning, two sub-fields of artificial intelligence, are at the core of many recent breakthroughs…
Complex machine learning algorithms are used more and more often in critical tasks involving text data, leading to the development of interpretability methods. Among local methods, two families have emerged: those computing importance…
We present an approach to compute the monetary value of individual data points, in context of an automated decision system. The proposed method enables us to explore and implement a paradigm of data minimalism for large-scale machine…
In financial markets valuable information is rarely circulated homogeneously, because of time required for information to spread. However, advances in communication technology means that the 'lifetime' of important information is typically…
Cross-validation is a useful and generally applicable technique often employed in machine learning, including decision tree induction. An important disadvantage of straightforward implementation of the technique is its computational…
Although many investigators affirm a desire to build reasoning systems that behave consistently with the axiomatic basis defined by probability theory and utility theory, limited resources for engineering and computation can make a complete…
Effective altruism is a movement whose goal it to use evidence and reason to figure out how to benefit others as much as possible. This movement is becoming influential, but effective altruists still lack tools to help them understand…
Complex systems are found in most branches of science. It is still argued how to best quantify their complexity and to what end. One prominent measure of complexity (the statistical complexity) has an operational meaning in terms of the…
We study what changes to an agent's decision problem increase her value for information. We prove that information becomes more valuable if and only if the agent's reduced-form payoff in her belief becomes more convex. When the…
Observations on the past provide some hints about what will happen in the future, and this can be quantified using information theory. The ``predictive information'' defined in this way has connections to measures of complexity that have…
This paper presents a new foundational approach to information theory based on the concept of the information efficiency of a recursive function, which is defined as the difference between the information in the input and the output. The…
We consider stopping problems in which a decision maker (DM) faces an unknown state of nature and decides sequentially whether to stop and take an irreversible action; pay a fee and obtain additional information; or wait without acquiring…
We introduce a cluster evaluation technique called Tree Index. Our Tree Index algorithm aims at describing the structural information of the clustering rather than the quantitative format of cluster-quality indexes (where the representation…
We propose and discuss sensitivity metrics for reliability analysis, which are based on the value of information. These metrics are easier to interpret than other existing sensitivity metrics in the context of a specific decision and they…
Fair clustering has gained increasing attention in recent years, especially in applications involving socially sensitive attributes. However, existing fair clustering methods often lack interpretability, limiting their applicability in…
Although neural networks can achieve very high predictive performance on various different tasks such as image recognition or natural language processing, they are often considered as opaque "black boxes". The difficulty of interpreting the…
We derive qualitative relationships about the informational relevance of variables in graphical decision models based on a consideration of the topology of the models. Specifically, we identify dominance relations for the expected value of…
In this paper we demonstrate that it is possible to manage intelligence in constant time as a pre-process to information fusion through a series of processes dealing with issues such as clustering reports, ranking reports with respect to…
Sparsity is a central aspect of interpretability in machine learning. Typically, sparsity is measured in terms of the size of a model globally, such as the number of variables it uses. However, this notion of sparsity is not particularly…
Ensembles of classification and regression trees remain popular machine learning methods because they define flexible non-parametric models that predict well and are computationally efficient both during training and testing. During…