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Money was invented to address the difficulty in the double coincidence of wants between the supply and demand when people exchanged their goods and services. There are two information states in society: one is the initial state that people…
Issues can arise when research focused on fairness, transparency, or safety is conducted separately from research driven by practical deployment concerns and vice versa. This separation creates a growing need for translational work that…
A question of some interest is how to characterize the amount of information that a prior puts into a statistical analysis. Rather than a general characterization, we provide an approach to characterizing the amount of information a prior…
A solution concept on a class of transferable utility coalitional games is a multifunction satisfying given criteria of economic rationality. Every solution associates a set of payoff allocations with a coalitional game. This general…
It is well known that ex ante social preferences and expected utility are not always compatible. In this note, we introduce a novel framework that naturally separates social preferences from selfish preferences to answer the following…
We study a fair division problem with indivisible items, namely the computation of maximin share allocations. Given a set of $n$ players, the maximin share of a single player is the best she can guarantee to herself, if she would partition…
We study the design of prior-independent auctions in a setting with heterogeneous bidders. In particular, we consider the setting of selling to $n$ bidders whose values are drawn from $n$ independent but not necessarily identical…
Recently, in order to explore the mechanism behind wealth or income distribution, several models have been proposed by applying principles of statistical mechanics. These models share some characteristics, such as consisting of a group of…
Prediction problems in finance go beyond estimating the unknown parameters of a model (e.g. of expected returns). This is because such a model would have to include parameters governing the market participants' propensity to change their…
Conformal prediction is a framework for providing prediction intervals with distribution-free validity, guaranteeing predictive coverage for data drawn from any distribution. Its two main variants are full conformal prediction and split…
One of the main approaches used to construct prior distributions for objective Bayes methods is the concept of random imaginary observations. Under this setup, the expected-posterior prior (EPP) offers several advantages, among which it has…
How should a buyer design procurement mechanisms when suppliers' costs are unknown, and the buyer does not have a prior belief? We demonstrate that simple mechanisms - that share a constant fraction of the buyer utility with the seller -…
Diversification represents the idea of choosing variety over uniformity. Within the theory of choice, desirability of diversification is axiomatized as preference for a convex combination of choices that are equivalently ranked. This…
Finite mixture and Markov-switching models generalize and, therefore, nest specifications featuring only one component. While specifying priors in the two: the general (mixture) model and its special (single-component) case, it may be…
Power priors are used for incorporating historical data in Bayesian analyses by taking the likelihood of the historical data raised to the power $\alpha$ as the prior distribution for the model parameters. The power parameter $\alpha$ is…
Group fairness definitions such as Demographic Parity and Equal Opportunity make assumptions about the underlying decision-problem that restrict them to classification problems. Prior work has translated these definitions to other machine…
Comparative prime number theory is the study of the {\em{discrepancies}} of distributions when we compare the number of primes in different residue classes. This work presents a list of the problems being investigated in comparative prime…
We give an interpretation of the Maximum Entropy (MaxEnt) Principle in game-theoretic terms. Based on this interpretation, we make a formal distinction between different ways of {em applying/} Maximum Entropy distributions. MaxEnt has…
A new prior is proposed for learning representations of high-level concepts of the kind we manipulate with language. This prior can be combined with other priors in order to help disentangling abstract factors from each other. It is…
We introduce a new tool for predicting the evolution of an option for the cases where at some specific time, there is a high-degree of uncertainty for identifying its price. We work over the special case where we can predict the evolution…