Related papers: Comparing Different Information Levels
This study extends Blackwell's (1953) comparison of information to a sequential social learning model, where agents make decisions sequentially based on both private signals and the observed actions of others. In this context, we introduce…
We consider information networks whereby multiple biased-information-providers (BIPs), e.g., media outlets/social network users/sensors, share reports of events with rational-information-consumers (RICs). Making the reasonable abstraction…
This paper studies a dynamic model of information acquisition, in which information might be secretly manipulated. A principal must choose between a safe action with known payoff and a risky action with uncertain payoff, favoring the safe…
We introduce the concept of \emph{expected exposure} as the average attention ranked items receive from users over repeated samples of the same query. Furthermore, we advocate for the adoption of the principle of equal expected exposure:…
Received samples of a stochastic process are processed by a server for delivery as updates to a monitor. Each sample belongs to a class that specifies a distribution for its processing time and a function that describes how the value of the…
An agent acquires information dynamically until her belief about a binary state reaches an upper or lower threshold. She can choose any signal process subject to a constraint on the rate of entropy reduction. Strategies are ordered by "time…
This work investigates a dynamic variant of Bayesian persuasion, in which a strategic sender seeks to influence a receiver's belief over time through controlling the timing of the information disclosure, under resource constraints. We…
It is shown that in the case of a single decision maker who optimizes several possibly conflicting objectives, the amount of information available in preference relations among pairs of possible decisions, when compared with all other…
Choice overload occurs when individuals feel overwhelmed by an excessive number of options. Experimental evidence suggests that a larger selection can complicate the decision-making process. Consequently, choice satisfaction may diminish…
In this paper, we propose an information-theoretic exploration strategy for stochastic, discrete multi-armed bandits that achieves optimal regret. Our strategy is based on the value of information criterion. This criterion measures the…
The mutual information between two jointly distributed random variables $X$ and $Y$ is a functional of the joint distribution $P_{XY},$ which is sometimes difficult to handle or estimate. A coarser description of the statistical behavior of…
Given two sources of evidence about a latent variable, one can combine the information from both by multiplying the likelihoods of each piece of evidence. However, when one or both of the observation models are misspecified, the…
We consider a model of a data broker selling information to a single agent to maximize his revenue. The agent has a private valuation of the additional information, and upon receiving the signal from the data broker, the agent can conduct…
Ranked set sampling is a sampling design which has a wide range of applications in industrial statistics, and environmental and ecological studies, etc.. It is well known that ranked set samples provide more Fisher information than simple…
A version of the secretary problem is considered. The ranks of items, whose values are independent, identically distributed random variables $X_1,X_2,...,X_n$ from a uniform distribution on $[0; 1]$, are observed sequentially by the grader.…
In the persuasion model, apart from a few special cases, comparative statics has been an open question. We answer it, delineating which shifts of the sender's interim payoff lead her optimally to choose a more informative signal. Our first…
This paper consists of two parts. In the first part, we develop a new information theory, in which it is not a coincidence that information and physical entropy share the same mathematical formula. It is an adaptation of mind to help search…
In many real-world applications, a model provider provides probabilistic forecasts to downstream decision-makers who use them to make decisions under diverse payoff objectives. The provider may have access to multiple predictive models,…
For many reinforcement learning (RL) applications, specifying a reward is difficult. This paper considers an RL setting where the agent obtains information about the reward only by querying an expert that can, for example, evaluate…
For a bivariate random vector (X,Y), symmetry conditions are presented that yield stochastic orderings among |X|, |Y|, |max(X,Y)|, and | min(X, Y)|. Partial extensions of these results for multivariate random vectors (X1,...,Xn) are also…