29,103 research outputs found
Cursed yet Satisfied Agents
No full textIn real-life auctions, a widely observed phenomenon is the winner’s curse - the winner’s high bid implies that the winner often overestimates the value of the good for sale, resulting in an incurred negative utility. The seminal work of Eyster and Rabin [Econometrica'05] introduced a behavioral model aimed to explain this observed anomaly. We term agents who display this bias "cursed agents." We adopt their model in the interdependent value setting, and aim to devise mechanisms that prevent the agents from obtaining negative utility. We design mechanisms that are cursed ex-post incentive compatible, that is, incentivize agents to bid their true signal even though they are cursed, while ensuring that the outcome is ex-post individually rational (EPIR) - the price the agents pay is no more than the agents' true value.
Since the agents might overestimate the value of the allocated good, such mechanisms might require the seller to make positive (monetary) transfers to the agents in order to prevent agents from over-paying for the good. While the revenue of the seller not requiring EPIR might increase when agents are cursed, when imposing EPIR, cursed agents will always pay less than fully rational agents (due to the positive transfers the seller makes). We devise revenue and welfare maximizing mechanisms for cursed agents. For revenue maximization, we give the optimal deterministic and anonymous mechanism. For welfare maximization, we require ex-post budget balance (EPBB), as positive transfers might cause the seller to have negative revenue. We propose a masking operation that takes any deterministic mechanism, and masks the allocation whenever the seller requires to make positive transfers. The masking operation ensures that the mechanism is both EPIR and EPBB. We show that in typical settings, EPBB implies that the mechanism cannot make any positive transfers. Thus, applying the masking operation on the fully efficient mechanism results in a socially optimal EPBB mechanism. This further implies that if the valuation function is the maximum of agents' signals, the optimal EPBB mechanism obtains zero welfare. In contrast, we show that for sum-concave valuations, which include weighted-sum valuations and _p-norms, the welfare optimal EPBB mechanism obtains half of the optimal welfare as the number of agents grows large
What You Jointly Know Determines How You Act: Strategic Interactions in Prediction Markets
No full textThe primary goal of a prediction market is to elicit and aggregate information about some future event of interest. How well this goal is achieved depends on the behavior of self-interested market participants, which are crucially influenced by not only their private information but also their knowledge of others' private information, in other words, the information structure of market participants. In this paper, we model a prediction market using the now-classic logarithmic market scoring rule (LMSR) market maker as an extensive-form Bayesian game and aim to understand and characterize the game-theoretic equilibria of the market for different information structures. Prior work has shown that when participants' information is independent conditioned on the realized outcome of the event, the only type of equilibria in this setting has every participant race to honestly reveal their private information as soon as possible, which is the most desirable outcome for the market's goal of information aggregation. This paper considers the remaining two classes of information structures: participants' information being unconditionally independent (the I game) and participants' information being both conditionally and unconditionally dependent (the D game). We characterize the unique family of equilibria for the I game with finite number of participants and finite stages. At any equilibrium in this family, if player i's last stage of participation in the market is after player j's, player i only reveals his information after player j's last stage of participation. This suggests that players race to delay revealing their information, which is probably the least desirable outcome for the market's goal. We consider a special case of the D game and cast insights on possible equilibria if one exists.Engineering and Applied SciencesAccepted Manuscrip
Chen Chen, 42nd Annual ODU Literary Festival
No full textChen Chen is the author of When I Grow Up I Want to Be a List of Further Possibilities (BOA Editions, 2017), which was long-listed for the National Book Award and won the Thom Gunn Award, among other honors. Bloodaxe Books published a UK edition in June. He is also the author of four chapbooks, most recently You MUST Use the Word Smoothie (Sundress Publications, 2019) and Gesundheit! (in collaboration with Sam Herschel Wein and forthcoming from Glass Poetry Press, fall 2019). His work appears in many publications, including Poem-a-Day, The Massachusetts Review, The Best American Poetry, and The Best American Nonrequired Reading. He has received a Pushcart Prize and fellowships from Kundiman and the National Endowment for the Arts. He holds an MFA from Syracuse University and a PhD from Texas Tech University. He teaches at Brandeis University as the Jacob Ziskind Poet-in-Residence and co-runs the journal, Underblong. He lives in Waltham, Massachusetts, with his partner, Jeff Gilbert, and their pug, Mr. Rupert Gile
Supporting data used in the paper: Xi Chen, 2020, The LMARS based shallow-water dynamical core on generic gnomonic cubed-sphere geometry
No full text# Simulation results of the unstaggered shallow water model
This repository contains the supporting data used in the paper: Xi Chen, 2020, The LMARS based shallow‐water dynamical core on generic gnomonic cubed‐sphere geometry, DOI: 10.1029/2020MS002280
Organization of the repository:
The tar archive with this data submission has a:
doc directory contains a README.md with information regarding naming conventions to label the model configurations for a shallow water test simulation. Additional information can also be found in README.md. Table 4 in the paper provides additional details.
The data directory contains the supporting data files (NetCDF format).Disclaimer: "This was prepared by Xi Chen under award NA18OAR4320123 from the National Oceanic and Atmospheric Administration, U.S. Department of Commerce. The statements, findings, conclusions, and recommendations are those of the author(s) and do not necessarily reflect the views of the National Oceanic and Atmospheric Administration, or the U.S. Department of Commerce.
Artimpaza brevilineata Tian & Chen, 2012 in Tian, Chen & Li 2012
No full textArtimpaza brevilineata Tian & Chen, 2012 in Tian, Chen & Li, 2012: 43, figs. 1–9. (Figs. 28a, b) Type locality: China, Yunnan, Pu’er City, Yutang. Gender: female. Date collected: 2011.V.25 (2010.V.25, in the original description, is incorrect). Collector: Li-Chao TIAN & Gui-Qiang HUANG. Paratypes: 1 female, China, Yunnan, Lincang City, 1980.VI.1, Fen LIU leg. Remarks: In the original description, the type locality is “ Yunnan, Jinghong” while it is “ Yunnan, Yutang” according to the label. “Yutang” is actually in Pu’er, not Jinghong. The first author described the type locality by mistake. In the original description, the collector was only listed as Li-Chao TIAN, which was a mistake.Published as part of Li, Zhu & Chen, Li, 2020, Primary types of longhorned beetles (Coleoptera, Cerambycidae, Vesperidae and Disteniidae) of Southwest University (SWU), pp. 25-46 in Zootaxa 4718 (1) on page 33, DOI: 10.11646/zootaxa.4718.1.2, http://zenodo.org/record/360220
Genetic background analysis and breed evaluation of Yiling yellow cattle
No full textAbstract: Traditionally, Chinese indigenous cattle is geographically widespread. The present study analyzed based on genome-wide variants to evaluate the genetic background among 157 individuals from four representative indigenous cattle breeds of Hubei Province of China: Yiling yellow cattle (YL), Bashan cattle (BS), Wuling cattle (WL), Zaobei cattle (ZB), and 21 individuals of Qinchuan cattle (QC) from the nearby Shanxi Province of China. Linkage disequilibrium (LD) analysis showed the LD of YL was the lowest (r2=0.32) when the distance between markers was approximately 2 kb. Principle component analysis (PCA), and neighbor-joining (NJ)-tree revealed a separation of Yiling yellow cattle from other geographic nearby local cattle breeds. In PCA plot, the YL and QC groups were segregated as expected; moreover, YL individuals clustered together more obviously. In the NJ-tree, the YL group formed an independent branch and BS, WL, ZB groups were mixed. We then used the FST statistic approach to reveal long-term selection sweep of YL and other 4 cattle breeds. According to the selective sweep, we identified the unique pathways of YL, associated with production traits. Based on the results, it can be proposed that YL has its unique genetic characteristics of excellence resource, and it is an indispensable cattle breed in China
Author contributions
No full textPlease browse the "Files" tag to access the appendix specifying the author - Chen Hsi Tsai's contributions to the seven papers included in the thesis
Ying Chen\u27s Impressions of Summer
No full textChapbook of narrative/personal poems by Ying Chen originally published by Finishing Line Press in 2013. Translated from the French by Peter Schulman, ODU Professor of French and International Studies.https://digitalcommons.odu.edu/worldlanguages_books/1016/thumbnail.jp
A Machine with Short-Term, Episodic, and Semantic Memory Systems
No full textInspired by the cognitive science theory of the explicit human memory systems, we have modeled an agent with short-term, episodic, and semantic memory systems, each of which is modeled with a knowledge graph. To evaluate this system and analyze the behavior of this agent, we designed and released our own reinforcement learning agent environment, the Room , where an agent has to learn how to encode, store, and retrieve memories to maximize its return by answering questions. We show that our deep Q-learning based agent successfully learns whether a short-term memory should be forgotten, or rather be stored in the episodic or semantic memory systems. Our experiments indicate that an agent with human-like memory systems can outperform an agent without this memory structure in the environment
《在中法之间 — 陈伟农的艺术体验》 Zai Zhong Fa zhi jian: Chen Weinong de yishu tijian / “Between China and France. The Artistic Experience of Chen Weinong”
No full textThe author analizes the artistic production of the Chinese contemporary artist Chen Weinong, who has travelled between China and France for more ten years. In his ink paintings and calligraphies, Chen Weinong reflects the essence of both Western and Eastern cultures, succeeding in refreshing the ancient tradition as well as blazing new trails in Chinese art
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