Related papers: Making Information More Valuable
We consider an American contingent claim on a financial market where the buyer has additional information. Both agents (seller and buyer) observe the same prices, while the information available to them may differ due to some extra…
We study the mechanism design problem in the setting where agents are rewarded using information only. This problem is motivated by the increasing interest in secure multiparty computation techniques. More specifically, we consider the…
An information cascade is a circumstance where agents make decisions in a sequential fashion by following other agents. Bikhchandani et al., predict that once a cascade starts it continues, even if it is wrong, until agents receive an…
How does competition in markets for information affect the creation and division of surplus? We study this question in a search environment in which an agent searches sequentially for a high-quality good and learns about the quality of…
In information theory, some optimization problems result in convex optimization problems on strictly convex functionals of probability densities. In this note, we study these problems and show conditions of minimizers and the uniqueness of…
How should an agent (the sender) observing multi-dimensional data (the state vector) persuade another agent to take the desired action? We show that it is always optimal for the sender to perform a (non-linear) dimension reduction by…
We consider a model of oligopolistic competition in a market with search frictions, in which competing firms with products of unknown quality advertise how much information a consumer's visit will glean. In the unique symmetric equilibrium…
The worthwhile-to-move incremental principle is a mechanism where, at each step, the agent, before moving and after exploration around the current state, compares intermediate advantages and costs to change to advantages and costs to stay.…
The buying and selling of information is taking place at a scale unprecedented in the history of commerce, thanks to the formation of online marketplaces for user data. Data providing agencies sell user information to advertisers to allow…
In the vision and language navigation task, the agent may encounter ambiguous situations that are hard to interpret by just relying on visual information and natural language instructions. We propose an interactive learning framework to…
A desirable property of an intelligent agent is its ability to understand its environment to quickly generalize to novel tasks and compose simpler tasks into more complex ones. If the environment has geometric or arithmetic structure, the…
Before the massive spread of computer technology, information was far from complex. The development of technology shifted the paradigm: from individuals who faced scarce and costly information to individuals who face massive amounts of…
We study the classic principal-agent model when the signal observed by the principal is chosen by the agent. We fully characterize the optimal information structure from an agent's perspective in a general moral hazard setting with limited…
How to incentivize self-interested agents to explore when they prefer to exploit? Consider a population of self-interested agents that make decisions under uncertainty. They "explore" to acquire new information and "exploit" this…
We consider information filtering, in which we face a stream of items too voluminous to process by hand (e.g., scientific articles, blog posts, emails), and must rely on a computer system to automatically filter out irrelevant items. Such…
We study how a principal should optimally choose between implementing a new policy and maintaining the status quo when information relevant for the decision is privately held by agents. Agents are strategic in revealing their information;…
We consider a revenue optimizing seller selling a single item to a buyer, on whose private value the seller has a noisy signal. We show that, when the signal is kept private, arbitrarily more revenue could potentially be extracted than if…
We study a discrete fair division problem where $n$ agents have additive valuation functions over a set of $m$ goods. We focus on the well-known $\alpha$-EFX fairness criterion, according to which the envy of an agent for another agent is…
Data valuation seeks to answer the important question, "How much is this data worth?" Existing data valuation methods have largely focused on discriminative models, primarily examining data value through the lens of its utility in training.…
We investigate knowledge exchange among commercial organisations, the rationale behind it and its effects on the market. Knowledge exchange is known to be beneficial for industry, but in order to explain it, authors have used high level…