Related papers: Increasing Value of Information Implies Separable …
We provide a general theoretical analysis of expected out-of-sample utility, also referred to as decision-theoretic classification, for non-decomposable binary classification metrics such as F-measure and Jaccard coefficient. Our key result…
One purpose -- quite a few thinkers would say the main purpose -- of seeking knowledge about the world is to enhance our ability to make good decisions. An item of knowledge that can make no conceivable difference with regard to anything we…
The accessible information and the informational power quantify the maximum amount of information that can be extracted from a quantum ensemble and by a quantum measurement, respectively. Here, we investigate the tradeoff between the…
We consider a dual model of decision making, in which an individual forms its opinion based on contrasting mechanisms of imitation and rational calculation. The decision making model (DMM) implements imitating behavior by means of a network…
Mutual information is one of the essential building blocks of information theory. Yet, it is only finitely defined for distributions with fast decaying tails on a countable joint alphabet of two random elements. The unboundedness of mutual…
We study the problem of fairly allocating indivisible goods among a set of agents. Our focus is on the existence of allocations that give each agent their maximin fair share--the value they are guaranteed if they divide the goods into as…
Auction-based Federated Learning (AFL) has attracted extensive research interest due to its ability to motivate data owners to join FL through economic means. Existing works assume that only one data consumer and multiple data owners exist…
What is the best compromise in a situation where different people value different things? The most commonly accepted method for answering this question -- in fields across the behavioral and social sciences, decision theory, philosophy, and…
Reconstructing the structural connectivity between interacting units from observed activity is a challenge across many different disciplines. The fundamental first step is to establish whether or to what extent the interactions between the…
This paper establishes a general equivalence between discrete choice and rational inattention models. Matejka and McKay (2015, AER) showed that when information costs are modelled using the Shannon entropy function, the resulting choice…
Scientific Computing typically requires large computational needs which have been addressed with High Performance Distributed Computing. It is essential to efficiently deploy a number of complex scientific applications, which have different…
We investigate notions of ambiguity and partial information in categorical distributional models of natural language. Probabilistic ambiguity has previously been studied using Selinger's CPM construction. This construction works well for…
Information theory has explained the organization of many biological phenomena, from the physiology of sensory receptive fields to the variability of certain DNA sequence ensembles. Some scholars have proposed that information should…
Computation of Mutual Information (MI) helps understand the amount of information shared between a pair of random variables. Automated feature selection techniques based on MI ranking are regularly used to extract information from sensitive…
Decision making in modern stochastic systems, including e-commerce platforms, financial markets and healthcare systems, has evolved into a multifaceted process that combines information acquisition and adaptive information sources. This…
The exploration-exploitation trade-off is central to the description of adaptive behaviour in fields ranging from machine learning, to biology, to economics. While many approaches have been taken, one approach to solving this trade-off has…
We investigate the sets of joint probability distributions that maximize the average multi-information over a collection of margins. These functionals serve as proxies for maximizing the multi-information of a set of variables or the mutual…
We consider the robust exponential utility maximization problem in discrete time: An investor maximizes the worst case expected exponential utility with respect to a family of nondominated probabilistic models of her endowment by…
We study the convex duality method for robust utility maximization in the presence of a random endowment. When the underlying price process is a locally bounded semimartingale, we show that the fundamental duality relation holds true for a…
Sliced Mutual Information (SMI) is widely used as a scalable alternative to mutual information for measuring non-linear statistical dependence. Despite its advantages, such as faster convergence, robustness to high dimensionality, and…