Related papers: Blunt Honesty, Incentives, and Knowledge Exchange
We propose a minimal model for the collective dynamics of opinion formation in the society, by modifying kinetic exchange dynamics studied in the context of income, money or wealth distributions in a society. This model has an intriguing…
We study the problem of selling information to a data-buyer who faces a decision problem under uncertainty. We consider the classic Bayesian decision-theoretic model pioneered by [Blackwell, 1951, 1953]. Initially, the data buyer has only…
Interactive reinforcement learning proposes the use of externally-sourced information in order to speed up the learning process. When interacting with a learner agent, humans may provide either evaluative or informative advice. Prior…
How best to incentivise prompt disclosure? We study this question in a general model in which a technological breakthrough occurs at an uncertain time and is privately observed by an agent, and a principal must incentivise disclosure via…
Information frictions can harm the welfare of participants in two-sided matching markets. Consider a centralized admission, where colleges cannot observe students' preparedness for success in a particular major or degree program. Colleges…
Transparency is an essential requirement of machine learning based decision making systems that are deployed in real world. Often, transparency of a given system is achieved by providing explanations of the behavior and predictions of the…
We study a simple model of an asset market with informed and non-informed agents. In the absence of non-informed agents, the market becomes information efficient when the number of traders with different private information is large enough.…
LLMs and AI chatbots have improved people's efficiency in various fields. However, the necessary knowledge for answering the question may be beyond the models' knowledge boundaries. To mitigate this issue, many researchers try to introduce…
One of the fundamental applications for a practically useful system of money is remuneration. Information pertaining to the amount of compensation awarded to different individuals is often considered sensitive, commanding a certain degree…
The adaptation of Large Language Models like ChatGPT for information retrieval from scientific data, software and publications is offering new opportunities to simplify access to and understanding of science for persons from all levels of…
We discuss whether science is in the process of being transformed from a quest for causality to a quest for correlation in light of the recent development in artificial intelligence. We observe that while a blind trust in the most seductive…
How do consultants price expertise? This paper studies a problem of selling information products (expertise) to a buyer (client) who faces decision-making problem under uncertainty. The client is privately informed about the type of…
Many facts are learned through the intermediation of individuals with special access to information, such as law enforcement officers, officials with a security clearance, or experts with specific knowledge. This paper considers whether…
Machine learning (ML) algorithms are showing a growing trend in helping the scientific communities across different disciplines and institutions to address large and diverse data problems. However, many available ML tools are…
Considering collaborative patent development, we provide micro-level evidence for innovation through exchanges of differentiated knowledge. Knowledge embodied in a patent is proxied by word pairs appearing in its abstract, while novelty is…
The curse of knowledge can impede communication between experts and laymen. We propose a new task of expertise style transfer and contribute a manually annotated dataset with the goal of alleviating such cognitive biases. Solving this task…
Fairness assumptions are a valuable tool when reasoning about systems. In this paper, we classify several fairness properties found in the literature and argue that most of them are too restrictive for many applications. As an alternative…
Q&A websites rely on user-generated responses, with incentives such as reputation scores or monetary rewards often offered. While some users may find it intrinsically rewarding to assist others, studies indicate that payment can improve the…
Scientific information expresses human understanding of nature. This knowledge is largely disseminated in different forms of text, including scientific papers, news articles, and discourse among people on social media. While important for…
Information in the form of data, which can be stored and transferred between users, can be viewed as an intangible commodity, which can be traded in exchange for money. Determining the fair price at which a string of data should be traded…