Related papers: Rational Aversion to Information
Prediction markets are powerful tools to elicit and aggregate beliefs from strategic agents. However, in current prediction markets, agents may exhaust the social welfare by competing to be the first to update the market. We initiate the…
It is shown that in the case of a single decision maker who optimizes several possibly conflicting objectives, the amount of information available in preference relations among pairs of possible decisions, when compared with all other…
The dominant theories of rational choice assume logical omniscience. That is, they assume that when facing a decision problem, an agent can perform all relevant computations and determine the truth value of all relevant logical/mathematical…
We study the diffusion of a true and a false message (misinformation) when agents are biased and able to verify messages. As a recipient of a false message who verifies it becomes informed of the truth, a higher prevalence of misinformation…
An inductive logic can be formulated in which the elements are not propositions or probability distributions, but information systems. The logic is complete for information systems with binary hypotheses, i.e., it applies to all such…
We study the optimization problem of selecting numerical quantities to clean in order to fact-check claims based on such data. Oftentimes, such claims are technically correct, but they can still mislead for two reasons. First, data may…
The growth rate of organisms depends both on external conditions and on internal states, such as the expression levels of various genes. We show that to achieve a criterion mean growth rate over an ensemble of conditions, the internal…
This paper studies the optimal mechanism to motivate effort in a dynamic principal-agent model without transfers. An agent is engaged in a task with uncertain future rewards and can quit at any time. The principal knows the reward and…
A growing line of work has investigated the development of neural NLP models that can produce rationales--subsets of input that can explain their model predictions. In this paper, we ask whether such rationale models can also provide…
We give a semantics to iterated update by a preference relation on possible developments. An iterated update is a sequence of formulas, giving (incomplete) information about successive states of the world. A development is a sequence of…
This paper consists of two parts. In the first part, we develop a new information theory, in which it is not a coincidence that information and physical entropy share the same mathematical formula. It is an adaptation of mind to help search…
This paper investigates a problem about freedom of information. Although freedom of information is generally considered desirable, there are a number of areas where there is substantial agreement that freedom of information should be…
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…
Consider a persuasion game where both the sender and receiver are ambiguity averse with maxmin expected utility (MEU) preferences and the sender can choose an ambiguous information structure. This paper analyzes the game in an ex-ante…
One of the key benefits of voice-based personal assistants is the potential to proactively recommend relevant and interesting information. One of the most valuable sources of such information is the News. However, in order for the user to…
A policymaker often wants to steer a decision-maker toward one of two actions, but lacks reliable knowledge of how the decision-maker perceives uncertainty or evaluates risk. We formalize a notion of robust paternalism: a modification a' of…
Within the well-known framework of financial portfolio optimization, we analyze the existing relationships between the condition of arbitrage and the utility maximization in presence of \emph{insider information}. We assume that, since the…
When environmental regulations are unpopular, policymakers often attribute resistance to information frictions and poor communication. We test this idea in the context of a major climate policy: Germany's Heating Law of 2023, which mandates…
A privately-informed sender can commit to any disclosure policy towards a receiver. We show that full disclosure is optimal under a sufficient condition with some desirable properties. First, it speaks directly to the utility functions of…
The influence of additional information on the decision making of agents, who are interacting members of a society, is analyzed within the mathematical framework based on the use of quantum probabilities. The introduction of social…