Related papers: Signaling Design
In collaborative learning with streaming data, nodes (e.g., organizations) jointly and continuously learn a machine learning (ML) model by sharing the latest model updates computed from their latest streaming data. For the more resourceful…
Strategic classification studies the design of a classifier robust to the manipulation of input by strategic individuals. However, the existing literature does not consider the effect of competition among individuals as induced by the…
This paper analyzes the strategic interactions between a profit-maximizing monopolist and a free, capacity-constrained public option. By restricting its own supply, the monopolist intentionally congests the public option and induces…
Who benefits from expanding transport networks? While designed to improve mobility, such interventions can also create inequality. In this paper, we show that disparities arise not only from the structure of the network itself but also from…
We develop a model of social learning from overabundant information: Short-lived agents sequentially choose from a large set of (flexibly correlated) information sources for prediction of an unknown state. Signal realizations are public. We…
We introduce a probabilistic model of labor markets for university graduates, in particular, in Japan. To make a model of the market efficiently, we take into account several hypotheses. Namely, each company fixes the (business year…
Sponsored search mechanisms have drawn much attention from both academic community and industry in recent years since the seminal papers of [13] and [14]. However, most of the existing literature concentrates on the mechanism design and…
We study the regulation of a monopolistic firm using a robust-design approach. We solve for the policy that minimizes the regulator's worst-case regret, where the regret is the difference between his complete-information payoff minus his…
Most modern systems strive to learn from interactions with users, and many engage in exploration: making potentially suboptimal choices for the sake of acquiring new information. We initiate a study of the interplay between exploration and…
Large language models (LLMs) like ChatGPT have significantly lowered the cost of producing written content. This paper studies how LLMs, through lowering writing costs, disrupt markets that traditionally relied on writing as a costly signal…
We identify and explore differential access to population-level signaling (also known as information design) as a source of unequal access to opportunity. A population-level signaler has potentially noisy observations of a binary type for…
In school choice, students make decisions based on their expectations of particular schools' suitability, and the decision to gather information about schools is influenced by the acceptance odds determined by the mechanism in place. We…
We study a dynamic stopping game between a principal and an agent. The agent is privately informed about his type. The principal learns about the agent's type from a noisy performance measure, which can be manipulated by the agent via a…
Assessments such as standardized tests and teacher evaluations of students' classroom participation are central elements of most educational systems. Assessments inform the student, parent, teacher, and school about the student learning…
In a semi-realistic market simulator, independent reinforcement learning algorithms may facilitate market makers to maintain wide spreads even without communication. This unexpected outcome challenges the current antitrust law framework. We…
This paper explores the economic interactions within modern crowdsourcing markets. In these markets, employers issue requests for tasks, platforms facilitate the recruitment of crowd workers, and workers complete tasks for monetary rewards.…
Artificial intelligence is simultaneously transforming the production function of human capital in schools and the return to skills in the labor market. We develop a theoretical model to analyze the potential for misallocation when these…
According to common understanding, in free completion of a private product, market and price, the two main factors in the competition that leads to economic efficiency, always exist together. This paper, however, points out the phenomenon…
We develop a novel framework for costly information acquisition in which a decision-maker learns about an unobserved state by choosing a signal distribution, with the cost of information determined by the distribution of noise in the…
Network congestion games are a well-understood model of multi-agent strategic interactions. Despite their ubiquitous applications, it is not clear whether it is possible to design information structures to ameliorate the overall experience…