Related papers: How informative is the Order Book Beyond the Best …

Decision-makers often have access to machine-learned predictions about future demand that can help guide online resource allocation decisions. However, such predictions may be inaccurate. We develop a framework for online resource…

Standard models in economics stress the role of intelligent agents who maximize utility. However, there may be situations where, for some purposes, constraints imposed by market institutions dominate intelligent agent behavior. We use data…

We demonstrate that LLMs may learn indicators of document usefulness and modulate their updates accordingly. We introduce random strings ("tags") as indicators of usefulness in a synthetic fine-tuning dataset. Fine-tuning on this dataset…

Affordance is crucial for intelligent robots in the context of object manipulation. In this paper, we argue that affordance should be task-/instruction-dependent, which is overlooked by many previous works. That is, different instructions…

We analyze the type of learned optimization that occurs when a learned model (such as a neural network) is itself an optimizer - a situation we refer to as mesa-optimization, a neologism we introduce in this paper. We believe that the…

Despite its great success, machine learning can have its limits when dealing with insufficient training data. A potential solution is the additional integration of prior knowledge into the training process which leads to the notion of…

We study ordinal approximation algorithms for maximum-weight bipartite matchings. Such algorithms only know the ordinal preferences of the agents/nodes in the graph for their preferred matches, but must compete with fully omniscient…

We investigate whether the bid/ask queue imbalance in a limit order book (LOB) provides significant predictive power for the direction of the next mid-price movement. We consider this question both in the context of a simple binary…

We consider non-clairvoyant scheduling with online precedence constraints, where an algorithm is oblivious to any job dependencies and learns about a job only if all of its predecessors have been completed. Given strong impossibility…

Auto-evaluating language models (LMs), i.e., using a grader LM to evaluate the candidate LM, is an appealing way to accelerate the evaluation process and the cost associated with it. But this presents a paradox: how can we trust the grader…

Organizations often lack sufficient data to effectively train machine learning (ML) models, while others possess valuable data that remains underutilized. Data markets promise to unlock substantial value by matching data suppliers with…

The increasing deployment of advanced digital technologies such as Internet of Things (IoT) devices and Cyber-Physical Systems (CPS) in industrial environments is enabling the productive use of machine learning (ML) algorithms in the…

This work formulates the machine learning mechanism as a bi-level optimization problem. The inner level optimization loop entails minimizing a properly chosen loss function evaluated on the training data. This is nothing but the…

On-Shelf Availability (OSA) of products in retail stores is a critical business criterion in the fast moving consumer goods and retails sector. When a product is out-of-stock (OOS) and a customer cannot find it on its designed shelf, this…

Large Language Models (LLMs) with reasoning capabilities have achieved state-of-the-art performance on a wide range of tasks. Despite its empirical success, the tasks and model scales at which reasoning becomes effective, as well as its…

In recent years, Web services are becoming more and more intelligent (e.g., in understanding user preferences) thanks to the integration of components that rely on Machine Learning (ML). Before users can interact (inference phase) with an…

We propose a microstructural modeling framework for studying optimal market making policies in a FIFO (first in first out) limit order book (LOB). In this context, the limit orders, market orders, and cancel orders arrivals in the LOB are…

We report successful results from using deep learning neural networks (DLNNs) to learn, purely by observation, the behavior of profitable traders in an electronic market closely modelled on the limit-order-book (LOB) market mechanisms that…

We provide an explicit characterization of the optimal market making strategy in a discrete-time Limit Order Book (LOB). In our model, the number of filled orders during each period depends linearly on the distance between the fundamental…

Poor data quality limits the advantageous power of Machine Learning (ML) and weakens high-performing ML software systems. Nowadays, data are more prone to the risk of poor quality due to their increasing volume and complexity. Therefore,…