Related papers: Comparisons of Experiments in Moral Hazard Problem…
The role of credit rating agencies has been under severe scrutiny after the subprime crisis. In this paper we explore the relationship between credit ratings and informational efficiency of a sample of thirty nine corporate bonds of US oil…
We introduce an information order on experiments based on weighted garbling, a generalization of the standard notion of garbling. In this order, an experiment is more informative than another if the latter is a weighted garbling of the…
The price system is often said to economize on information, but economics has lacked a formal measure of how much information it saves. This paper develops such a measure. We construct a proof-theoretic framework for decentralized…
In problems such as variable selection and graph estimation, models are characterized by Boolean logical structure such as presence or absence of a variable or an edge. Consequently, false positive error or false negative error can be…
Information sharing among organizations has been gaining attention as a method for improving cybersecurity. However, the associated disclosure costs act as deterrents for firms' voluntary cooperation. In this work, we take a game-theoretic…
Information theoretic criteria (ITC) have been widely adopted in engineering and statistics for selecting, among an ordered set of candidate models, the one that better fits the observed sample data. The selected model minimizes a penalized…
In this paper we propose a new multiple criteria decision aiding method to deal with sorting problems in which alternatives are evaluated on criteria structured in a hierarchical way and presenting interactions. The underlying preference…
Evaluating large language models across many benchmarks is expensive, yet many benchmarks are highly correlated. We formalize the selection of a small, informative subset as submodular maximization under a multivariate Gaussian model.…
Practical uses of Artificial Intelligence (AI) in the real world have demonstrated the importance of embedding moral choices into intelligent agents. They have also highlighted that defining top-down ethical constraints on AI according to…
In this paper, we consider a general distributed system with multiple agents who select and then implement actions in the system. The system has an operator with a centralized objective. The agents, on the other hand, are selfinterested and…
Decision-making agents based on pre-trained Large Language Models (LLMs) are increasingly being deployed across various domains of human activity. While their applications are currently rather specialized, several research efforts are…
In the context of individual-level causal inference, we study the problem of predicting whether someone will respond or not to a treatment based on their features and past examples of features, treatment indicator (e.g., drug/no drug), and…
This study extends Blackwell's (1953) comparison of information to a sequential social learning model, where agents make decisions sequentially based on both private signals and the observed actions of others. In this context, we introduce…
Algorithms that exploit sort orders are widely used to implement joins, grouping, duplicate elimination and other set operations. Query optimizers traditionally deal with sort orders by using the notion of interesting orders. The number of…
An agent, or a coalition of agents, faces an ethical dilemma between several statements if she is forced to make a conscious choice between which of these statements will be true. This paper proposes to capture ethical dilemmas as a…
Hierarchical analysis is considered and a multilevel model is presented in order to explore causality, chance and complexity in financial economics. A coupled system of models is used to describe multilevel interactions, consistent with…
This paper studies the provision of incentives for information acquisition. Information is costly for an agent to acquire and unobservable to a principal. We show that any Pareto optimal contract has a decomposition into a fraction of…
We determine the quality of randomized social choice mechanisms in a setting in which the agents have metric preferences: every agent has a cost for each alternative, and these costs form a metric. We assume that these costs are unknown to…
This paper introduces a novel method for estimating the self-interest level of Markov social dilemmas. We extend the concept of self-interest level from normal-form games to Markov games, providing a quantitative measure of the minimum…
Deploying large language models (LLMs) with agency in real-world applications raises critical questions about how these models will behave. In particular, how will their decisions align with humans when faced with moral dilemmas? This study…