Related papers: Never-ending Search for Innovation
What is the optimal order in which a researcher should submit their papers to journals of differing quality? I analyze a sequential search model without recall where the researcher's expected value from journal submission depends on the…
Our world is strongly driven by technological developments that continuously create new markets and shape individual taste and choice. The scale of dissemination of the most recent technological breakthroughs and the capability of creating…
We study the welfare of a mechanism in a dynamic environment where a learning investor can make a costly investment to change her value. In many real-world problems, the common assumption that the investor always makes the best responses,…
U.S. discrimination law can impose liability on firms that fail to adopt a less discriminatory alternative (LDA): a decision policy that achieves the same business objectives while reducing disparate impact on legally protected groups.…
We introduce the study of search games between a mobile Searcher and an immobile Hider in a new setting in which the Searcher has some potentially erroneous information, i.e., a prediction on the Hider's position. The objective is to…
We consider a real options model for the optimal irreversible investment problem of a profit maximizing company. The company has the opportunity to invest into a production plant capable of producing two products, of which the prices follow…
Understanding the factors driving innovation in energy technologies is of critical importance to mitigating climate change and addressing other energy-related global challenges. Low levels of innovation, measured in terms of energy patent…
Crowdfunding provides project founders with a convenient way to reach online investors. However, it is challenging for founders to find the most potential investors and successfully raise money for their projects on crowdfunding platforms.…
Sample-efficient exploration is crucial not only for discovering rewarding experiences but also for adapting to environment changes in a task-agnostic fashion. A principled treatment of the problem of optimal input synthesis for system…
We consider active learning under incentive compatibility constraints. The main application of our results is to economic experiments, in which a learner seeks to infer the parameters of a subject's preferences: for example their attitudes…
In many two-sided markets, the parties to be matched have incomplete information about their characteristics. We consider the settings where the parties engaged are extremely patient and are interested in long-term partnerships. Hence, once…
We introduce a novel theoretical framework for Return On Investment (ROI) maximization in repeated decision-making. Our setting is motivated by the use case of companies that regularly receive proposals for technological innovations and…
The demands on visual recognition systems do not end with the complexity offered by current large-scale image datasets, such as ImageNet. In consequence, we need curious and continuously learning algorithms that actively acquire knowledge…
One key challenge in talent search is to translate complex criteria of a hiring position into a search query, while it is relatively easy for a searcher to list examples of suitable candidates for a given position. To improve search…
We introduce a dynamic model in which a developer incrementally improves a product of uncertain quality over time, with the quality evolving as a controlled Brownian motion. At each moment in time, the developer can continue exploring by…
We are interested in the problem of optimal commitments in rank-and-bid based auctions, a general class of auctions that include first price and all-pay auctions as special cases. Our main contribution is a novel approach to solve for…
We consider an intermediary's problem of dynamically matching demand and supply of heterogeneous types in a periodic-review fashion. More specifically, there are two disjoint sets of demand and supply types, and a reward associated with…
A key challenge when trying to understand innovation is that it is a dynamic, ongoing process, which can be highly contingent on ephemeral factors such as culture, economics, or luck. This means that any analysis of the real-world process…
Success in the quest for artificial intelligence has the potential to bring unprecedented benefits to humanity, and it is therefore worthwhile to investigate how to maximize these benefits while avoiding potential pitfalls. This article…
Modern recommender systems operate in uniquely dynamic settings: user interests, item pools, and popularity trends shift continuously, and models must adapt in real time without forgetting past preferences. While existing tutorials on…