Related papers: Analogy Between Gambling and Measurement-Based Wor…
We introduce and realize demons that follow a customary gambling strategy to stop a nonequilibrium process at stochastic times. We derive second-law-like inequalities for the average work done in the presence of gambling, and universal…
Reinforcement learning systems are often concerned with balancing exploration of untested actions against exploitation of actions that are known to be good. The benefit of exploration can be estimated using the classical notion of Value of…
The amount of personal information contributed by individuals to digital repositories such as social network sites has grown substantially. The existence of this data offers unprecedented opportunities for data analytics research in various…
Incentive design deals with interaction between a principal and an agent where the former can shape the latter's utility through a policy commitment. It is well known that the principal faces an information rent when dealing with an agent…
Game theory serves as a powerful tool for distributed optimization in multi-agent systems in different applications. In this paper we consider multi-agent systems that can be modeled by means of potential games whose potential function…
For a sequence of binary bets, the Kelly criterion provides a closed-form solution that maximizes the expected growth rate of wealth. In contrast, when multiple bets are placed simultaneously (e.g., in portfolio allocation or prediction…
We are often faced with the non-trivial task of designing incentive mechanisms in the era of Web3. As history has shown, many Web3 services failed mostly due to the lack of a rigorous incentive mechanism design based on token economics.…
This study employs gamified experiments to investigate and refine the Schelling Model of Segregation, a framework that demonstrates how individual preferences can lead to systemic segregation. Using a movement selection algorithm derived…
In this work, a machine learning approach is developed for predicting the outcomes of football matches. The novelty of this research lies in the utilisation of the Kelly Index to first classify matches into categories where each one denotes…
Game theory is the study of tractable games which may be used to model more complex systems. Board games, video games and sports, however, are intractable by design, so "ludological" theories about these games as complex phenomena should be…
The stochastic multi-armed bandit model captures the tradeoff between exploration and exploitation. We study the effects of competition and cooperation on this tradeoff. Suppose there are $k$ arms and two players, Alice and Bob. In every…
Nowadays, both the amount of cyberattacks and their sophistication have considerably increased, and their prevention is of concern of most of organizations. Cooperation by means of information sharing is a promising strategy to address this…
In recent years, there has been a proliferation of online gambling sites, which made gambling more accessible with a consequent rise in related problems, such as addiction. Hence, the analysis of the gambling behaviour at both the…
Measurement and feedback allows an external agent to extract work from a system in contact with a single thermal bath. The maximum amount of work that can be extracted in a single measurement and the corresponding feedback loop is given by…
We introduce a \emph{gain function} viewpoint of information leakage by proposing \emph{maximal $g$-leakage}, a rich class of operationally meaningful leakage measures that subsumes recently introduced leakage measures -- {maximal leakage}…
Financial markets investors are involved in many games -- they must interact with other agents to achieve their goals. Among them are those directly connected with their activity on markets but one cannot neglect other aspects that…
This paper proposes a new way of evaluating the accuracy and validity of probabilistic forecasts that change over time (such as an in-game win probability model, or an election forecast). Under this approach, each model to be evaluated is…
Thermodynamic selection is an indirect competition between agents feeding on the same energy resource and obeying the laws of thermodynamics. We examine scenarios of this selection, where the agent is modeled as a heat-engine coupled to two…
In this work we are concerned with the design of efficient mechanisms while eliciting limited information from the agents. First, we study the performance of sampling approximations in facility location games. Our key result is to show that…
We show that frequent nondemolition measurements of a quantum system immersed in a thermal bath allow the extraction of work in a closed cycle from the system-bath interaction (correlation) energy, a hitherto unexploited work resource. It…