相关论文: Designing Informative Securities

I present evidence that communication between marketplace participants is an important influence on market demand. I find that consumer demand is approximately equally influenced by communication on both formal and informal networks-…

I characterize the consumer-optimal market segmentation in competitive markets where multiple firms selling differentiated products to consumers with unit demand. This segmentation is public---in that each firm observes the same market…

We consider the design of prediction market mechanisms known as automated market makers. We show that we can design these mechanisms via the mold of \emph{exponential family distributions}, a popular and well-studied probability…

Information design is typically studied through the lens of Bayesian signaling, where signals shape beliefs purely based on their correlation with the true state of the world. However, behavioral economics and psychology emphasize that…

Our aim is to design mechanisms that motivate all agents to reveal their predictions truthfully and promptly. For myopic agents, proper scoring rules induce truthfulness. However, as has been described in the literature, when agents take…

The present paper shows that it can be advantageous for traders to publish their information on the true value of an asset even if they (i) cannot build a position in the asset prior to the publication of their information and (ii) cannot…

We analyze the optimal information design in a click-through auction with fixed valuations per click, but stochastic click-through rates. While the auctioneer takes as given the auction rule of the click-through auction, namely the…

A decision maker is choosing between an active action (e.g., purchase a house, invest certain stock) and a passive action. The payoff of the active action depends on the buyer's private type and also an unknown state of nature. An…

Internet of Things (IoT) technology is a fundamental infrastructure for information transmission and integration in smart city implementations to achieve effective fine-grained city management, efficient operations, and improved life…

Product information labels can help users understand complex information leading them to make better decisions. One area where consumers are particularly prone to make costly decision-making errors is long-term saving, which requires…

In a recent work we have shown how to construct an information algebra of coherent sets of gambles defined on general possibility spaces. Here we analyze the connection of such an algebra with the set algebra of subsets of the possibility…

In this paper, we propose a model of decentralized energy storages, who serve as instruments to shift energy supply intertemporally. From storages' perspective, we investigate their optimal buying or selling decisions under market…

When estimating a single subsystem (module) in a linear dynamic network with a prediction error method, a data-informativity condition needs to be satisfied for arriving at a consistent module estimate. This concerns a condition on input…

We study the informational efficiency of a market with a single traded asset. The price initially differs from the fundamental value, about which the agents have noisy private information (which is, on average, correct). A fraction of…

Information sharing on social networks is ubiquitous, intuitive, and occasionally accidental. However, people may be unaware of the potential negative consequences of disclosures, such as reputational damages. Yet, people use social…

Observations on the past provide some hints about what will happen in the future, and this can be quantified using information theory. The ``predictive information'' defined in this way has connections to measures of complexity that have…

Secure software architecture is increasingly important in a data-driven world. When security is neglected sensitive information might leak through unauthorized access. To mitigate this software architects needs tools and methods to quantify…

Signaling is an important topic in the study of asymmetric information in economic settings. In particular, the transparency of information available to a seller in an auction setting is a question of major interest. We introduce the study…

The nature of information security has been, and probably will continue to be, marked by the asymmetric competition of attackers and defenders over the control of an uncertain environment. The reduction of this degree of uncertainty via an…

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…