Related papers: Some people have all the luck
The world of empirical machine learning (ML) strongly relies on benchmarks in order to determine the relative effectiveness of different algorithms and methods. This paper proposes the notion of "a benchmark lottery" that describes the…
Originally motivated by default risk management applications, this paper investigates a novel problem, referred to as the profitable bandit problem here. At each step, an agent chooses a subset of the K possible actions. For each action…
Human reasoning often involves working over limited information to arrive at probabilistic conclusions. In its simplest form, this involves making an inference that is not strictly entailed by a premise, but rather only likely given the…
We elicit incomplete preferences over monetary gambles with subjective uncertainty. Subjects rank gambles, and these rankings are used to estimate preferences; payments are based on estimated preferences. About 40\% of subjects express…
Let L be some extension of classical propositional logic. The non-iterated probabilistic logic over L, is the logic PL that is defined by adding non-nested probabilistic operators in the language of L. For example in PL we can express a…
We study an evolutionary game of chance in which the probabilities for different outcomes (e.g., heads or tails) depend on the amount wagered on those outcomes. The game is perhaps the simplest possible probabilistic game in which…
The game in which acts of participants don't have an adequate description in terms of Boolean logic and classical theory of probabilities is considered. The model of the game interaction is constructed on the basis of a non-distributive…
We introduce and discuss a nonlinear kinetic equation of Boltzmann type which describes the evolution of wealth in a pure gambling process, where the entire sum of wealths of two agents is up for gambling, and randomly shared between the…
We introduce a general framework for continuous-time betting markets, in which a bookmaker can dynamically control the prices of bets on outcomes of random events. In turn, the prices set by the bookmaker affect the rate or intensity of…
The standard way to evaluate language models on subjective tasks is through pairwise comparisons: an annotator chooses the "better" of two responses to a prompt. Leaderboards aggregate these comparisons into a single Bradley-Terry (BT)…
Since Austin introduced the term ``infelicity'', the linguistic literature has been flooded with its use, but no formal or computational explanation has been given for it. This thesis provides one for those infelicities that occur when a…
Based on Brownian ratchets, a counter-intuitive phenomenon has recently emerged -- namely, that two losing games can yield, when combined, a paradoxical tendency to win. A restriction of this phenomenon is that the rules depend on the…
This paper studies a sequential decision problem where payoff distributions are known and where the riskiness of payoffs matters. Equivalently, it studies sequential choice from a repeated set of independent lotteries. The decision-maker is…
We consider election scenarios with incomplete information, a situation that arises often in practice. There are several models of incomplete information and accordingly, different notions of outcomes of such elections. In one well-studied…
During last years poker has gained a lot of prestige in several countries and, beyond to be one of the most famous card games, it represents a modern challenge for scientists belonging to different communities, spanning from artificial…
Algorithms are now regularly used to decide whether defendants awaiting trial are too dangerous to be released back into the community. In some cases, black defendants are substantially more likely than white defendants to be incorrectly…
There are $n$ independent Bernoulli random variables $I_{k}$ with parameters $p_{k}$ that are observed sequentially. We consider a generalization of the Last-Success-Problem considering $w_{k}$ positive payments if the player successfully…
Patterns of wins and losses in pairwise contests, such as occur in sports and games, consumer research and paired comparison studies, and human and animal social hierarchies, are commonly analyzed using probabilistic models that allow one…
One way to make decisions under uncertainty is to select an optimal option from a possible range of options, by maximizing the expected utilities derived from a probability model. However, under severe uncertainty, identifying precise…
In this paper, we study the notion of admissibility for randomised strategies in concurrent games. Intuitively, an admissible strategy is one where the player plays `as well as possible', because there is no other strategy that dominates…