Related papers: Information Aggregation with Costly Information Ac…

In many applications, an organization may want to acquire data from many data owners. Data marketplaces allow data owners to produce data assemblage needed by data buyers through coalition. To encourage coalitions to produce data, it is…

A monopolist seller of multiple goods screens a buyer whose type is initially unknown to both but drawn from a commonly known distribution. The buyer privately learns about his type via a signal. We derive the seller's optimal mechanism in…

When investors have heterogeneous attitudes towards risk, it is reasonable to assume that each investor has a pricing kernel, and that these individual pricing kernels are aggregated to form a market pricing kernel. The various investors…

We develop a theoretical framework for understanding how cognitive load affects information processing in financial markets and test it using exogenous variation in disclosure complexity. Our model distinguishes between attention allocation…

Post Modigliani and Miller (1958), the concept of usage of arbitrage created a permanent mark on the discourses of financial framework. The arbitrage process is largely based on information dissemination amongst the stakeholders operating…

A general notion of information-related complexity applicable to both natural and man-made systems is proposed. The overall approach is to explicitly consider a rational agent performing a certain task with a quantifiable degree of success.…

This paper studies the switching of trading strategies and its effect on the market volatility in a continuous double auction market. We describe the behavior when some uninformed agents, who we call switchers, decide whether or not to pay…

This paper concerns sequential hypothesis testing in competitive multi-agent systems where agents exchange potentially manipulated information. Specifically, a two-agent scenario is studied where each agent aims to correctly infer the true…

Recent increase in online privacy concerns prompts the following question: can a recommender system be accurate if users do not entrust it with their private data? To answer this, we study the problem of learning item-clusters under local…

In many contexts, we have access to aggregate data, but individual level data is unavailable. For example, medical studies sometimes report only aggregate statistics about disease prevalence because of privacy concerns. Even so, many a time…

We develop an axiomatic theory of information acquisition that captures the idea of constant marginal costs in information production: the cost of generating two independent signals is the sum of their costs, and generating a signal with…

A decision-maker periodically acquires information about a changing state, controlling both the timing and content of updates. I characterize optimal policies using a decomposition of the dynamic problem into optimal stopping and static…

Despite exciting progress on cryptography, secure and efficient query processing over outsourced data remains an open challenge. We develop a communication-efficient and information-theoretically secure system, entitled Obscure for…

We study the robustness of cheap-talk equilibria to infinitesimal private information of the receiver in a model with a binary state-space and state-independent sender-preferences. We show that the sender-optimal equilibrium is robust if…

It has been shown that sets of oscillators in a modular network can exhibit a rich variety of metastable chimera states, in which synchronisation and desynchronisation coexist. Independently, under the guise of integrated information…

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…

The recent trend for acquiring big data assumes that possessing quantitatively more and qualitatively finer data necessarily provides an advantage that may be critical in competitive situations. Using a model complex adaptive system where…

The paper makes the observation that all orders of information entropy are equal in signals composed of repeating units of distinct symbols where the units can be classified as a member of a symmetry group. This leads to an improved metric…

In order to properly manage risk, practitioners must understand the aggregate risks they are exposed to. Additionally, to properly price policies and calculate bonuses the relative riskiness of individual business units must be well…

Merging datasets across institutions is a lengthy and costly procedure, especially when it involves private information. Data hosts may therefore want to prospectively gauge which datasets are most beneficial to merge with, without…