Related papers: What is the value of experimentation & measurement…
Experimentation in online digital platforms is used to inform decision making. Specifically, the goal of many experiments is to optimize a metric of interest. Null hypothesis statistical testing can be ill-suited to this task, as it is…
The quantum information science community has seen a surge in new algorithmic developments across scientific domains. These developments have demonstrated polynomial or better improvements in computational and space complexity,…
Quantum technology has been rapidly growing due to its potential revolutionary applications. In particular, superconducting qubits provide a strong light-matter interaction as required for quantum computation and in principle can be scaled…
We develop evaluation methods for measuring the economic decision-making capabilities and tendencies of LLMs. First, we develop benchmarks derived from key problems in economics -- procurement, scheduling, and pricing -- that test an LLM's…
We introduce the notion of performative power, which measures the ability of a firm operating an algorithmic system, such as a digital content recommendation platform, to cause change in a population of participants. We relate performative…
Quantum measurement is a physical process. A system and an apparatus interact for a certain time period (measurement time), and during this interaction, information about an observable is transferred from the system to the apparatus. In…
An observational study may be biased for estimating causal effects by failing to control for unmeasured confounders. This paper proposes a new quantity called the "sensitivity value", which is defined as the minimum strength of unmeasured…
The design of an inclusive product lifecycle is important for empowering stakeholders through their meaningful inclusion in lifecycle processes. To achieve this, the inclusion of stakeholders must be structured in a way that supports their…
As technology continues to advance, there is increasing concern about individuals being left behind. Many businesses are striving to adopt responsible design practices and avoid any unintended consequences of their products and services,…
The concept of a modular value of an observable of a pre- and post-selected quantum system is introduced. It is similar in form and in some cases has a close connection to the weak value of an observable, but instead of describing an…
Measurement is an integral part of modern science, providing the fundamental means for evaluation, comparison, and prediction. In the context of visualization, several different types of measures have been proposed, ranging from approaches…
Measures of voting power have been the subject of extensive research since the mid 1940s. More recently, similar measures of relative importance have been studied in other domains that include inconsistent knowledge bases, intensity of…
This paper introduces a maximum likelihood estimator of the value of job amenities and labor productivity in a single matching market based on the observation of equilibrium matches and wages. The estimation procedure simultaneously fits…
In ecological and environmental contexts, management actions must sometimes be chosen urgently. Value of information (VoI) analysis provides a quantitative toolkit for projecting the improved management outcomes expected after making…
Quantum computation offers a promising new kind of information processing, where the non-classical features of quantum mechanics can be harnessed and exploited. A number of models of quantum computation exist, including the now well-studied…
Social influence has been shown to create significant unpredictability in cultural markets, providing one potential explanation why experts routinely fail at predicting commercial success of cultural products. To counteract the difficulty…
Experimental comparisons of performance represent an important aspect of research on optimization algorithms. In this work we present a methodology for defining the required sample sizes for designing experiments with desired statistical…
Since the 1960s, the question whether markets are efficient or not is controversially discussed. One reason for the difficulty to overcome the controversy is the lack of a universal, but also precise, quantitative definition of efficiency…
We consider the problem of defining the significance of an itemset. We say that the itemset is significant if we are surprised by its frequency when compared to the frequencies of its sub-itemsets. In other words, we estimate the frequency…
Computing value of information (VOI) is a crucial task in various aspects of decision-making under uncertainty, such as in meta-reasoning for search; in selecting measurements to make, prior to choosing a course of action; and in managing…