Related papers: Dynamic Information Design with Diminishing Sensit…
We consider opportunistic communications over multiple channels where the state ("good" or "bad") of each channel evolves as independent and identically distributed Markov processes. A user, with limited sensing and access capability,…
Motivated reasoning posits that people distort how they process information in the direction of beliefs they find attractive. This paper creates a novel experimental design to identify motivated reasoning from Bayesian updating when people…
An important use of machine learning is to learn what people value. What posts or photos should a user be shown? Which jobs or activities would a person find rewarding? In each case, observations of people's past choices can inform our…
To what extent can an external observer observing an equilibrium action distribution in an incomplete information game infer the underlying information structure? We investigate this issue in a general linear-quadratic-Gaussian framework. A…
It is common in recommendation systems that users both consume and produce information as they make strategic choices under uncertainty. While a social planner would balance "exploration" and "exploitation" using a multi-armed bandit…
Diffusion learning is a framework that endows edge devices with advanced intelligence. By processing and analyzing data locally and allowing each agent to communicate with its immediate neighbors, diffusion effectively protects the privacy…
We study a general class of dynamic games with asymmetric information where agents' beliefs are strategy dependent, i.e. signaling occurs. We show that the notion of sufficient information, introduced in the companion paper team, can be…
A principal and an agent can launch a project under unanimous consent. Their individual payoffs from the project depend on an underlying state, and the agent privately knows his own preference. The principal can conduct a test to learn…
In the classical communication setting multiple senders having access to the same source of information and transmitting it over channel(s) to a receiver in general leads to a decrease in estimation error at the receiver as compared with…
We study the optimal allocation of prizes in rank-order tournaments with loss averse agents. Prize sharing becomes increasingly optimal with loss aversion because more equitable prizes reduce the marginal psychological cost of anticipated…
Bayesian Persuasion is proposed as a tool for social media platforms to combat the spread of misinformation. Since platforms can use machine learning to predict the popularity and misinformation features of to-be-shared posts, and users are…
Interest in how democracies form consensus has increased recently, with statistical physics and economics approaches both suggesting that there is convergence to a fixed point in belief networks, but with fluctuations in opinions when there…
We study information elicitation in cost-function-based combinatorial prediction markets when the market maker's utility for information decreases over time. In the sudden revelation setting, it is known that some piece of information will…
In this paper we provide a simple random-variable example of inconsistent information, and analyze it using three different approaches: Bayesian, quantum-like, and negative probabilities. We then show that, at least for this particular…
Agents, some with a bias, decide between undertaking a risky project and a safe alternative based on information about the project's efficiency. Only a part of that information is verifiable. Unbiased agents want to undertake only efficient…
Recently, there has been a growing interest in modeling planning with information constraints. Accordingly, an agent maximizes a regularized expected utility known as the free energy, where the regularizer is given by the information…
Multi-Agent Debate has emerged as a promising framework for improving the reasoning quality of large language models through iterative inter-agent communication. However, broadcasting all agent messages at every round introduces noise and…
We study learning dynamics induced by strategic agents who repeatedly play a game with an unknown payoff-relevant parameter. In each step, an information system estimates a belief distribution of the parameter based on the players'…
Individuals, despite having varied life experiences and learning processes, can communicate effectively through languages. This study aims to explore the efficiency of language as a communication medium. We put forth two specific…
We study the effects of introducing information inefficiency in a model for a random linear economy with a representative consumer. This is done by considering statistical, instead of classical, economic general equilibria. Employing two…