scholarly journals Advice from Multiple Experts: A Comparison of Simultaneous, Sequential, and Hierarchical Communication

2010 ◽  
Vol 10 (1) ◽  
Author(s):  
Ming Li
Keyword(s):  
Information Transmission ◽  
Decision Maker ◽  
Private Information ◽  
Moderate Level ◽  
Hierarchical Communication ◽  
Multiple Experts ◽  
Better Than

In this paper, I analyze an example in which two perfectly informed experts advise a decision maker. Each expert has private information about her own bias. I show that consulting two experts is better than consulting just one. I compare the efficiency of information transmission between simultaneous, sequential, and hierarchical forms of communication. I show that simultaneous communication achieves the highest efficiency, followed by sequential and hierarchical communication. However, hierarchical communication, in which a second expert chooses whether to block the first expert's message, achieves a moderate level of efficiency, even though the decision maker receives only one message. Finally, there are preference settings in which both sequential and hierarchical communication are superior to simultaneous communication.

scholarly journals Cheap Talk with Multiple Experts and Uncertain Biases

2021 ◽  
Vol 0 (0) ◽  
Author(s):  
Gülen Karakoç
Keyword(s):  
Decision Making ◽  
Information Transmission ◽  
Decision Maker ◽  
Private Information ◽  
Cheap Talk ◽  
Second Opinion ◽  
Choice Under Uncertainty ◽  
Multiple Experts

Abstract A decision maker solicits information from two partially informed experts and then makes a choice under uncertainty. The experts can be either moderately or extremely biased relative to the decision maker, which is their private information. I investigate the incentives of the experts to share their private information with the decision maker and analyze the resulting effects on information transmission. I show that it may be optimal to consult a single expert rather than two experts if the decision maker is sufficiently concerned about taking advice from extremely biased experts. In contrast to what may be expected, this result suggests that getting a second opinion may not always be helpful for decision making.

Analysis and Implementation of ASP.Net and PHP Frameworks Based on MVC Architecture

2013 ◽  
Vol 798-799 ◽  
pp. 749-752
Author(s):  
Xiao Kang Liu ◽  
Geng Guo Cheng
Keyword(s):  
User Interface ◽  
Information Transmission ◽  
Robustness Analysis ◽  
Analysis Method ◽  
Network Access ◽  
Business Logic ◽  
Mvc Model ◽  
Model View Controller ◽  
Model View ◽  
Better Than

Information transmission in the network is more and more accepted due to the fast and convenient of the network access. The MVC (Model-View-Controller) could be a very good solution to solve the problems as separating between user interface logic and business logic that developers found. We describe and explore ASP (Active Server Pages), PHP (Hypertext Preprocessor) and robustness analysis method, and we implement MVC architecture in ASP.Net framework and PHP framework respectively. With the comparison between ASP.Net framework and PHP framework, in this study, our findings show that PHP framework is more difficult than ASP.Net framework to implement MVC architecture, and the ASP.Net framework is better than PHP framework under the same environment.

Minimizing expected makespan in stochastic open shops

1982 ◽  
Vol 14 (4) ◽  
pp. 898-911 ◽  
Author(s):  
Michael L. Pinedo ◽  
Sheldon M. Ross
Keyword(s):  
Exponential Distribution ◽  
Decision Maker ◽  
Optimal Policy ◽  
Processing Time ◽  
Open Shop ◽  
Random Time ◽  
Two Machines ◽  
New Better Than Used ◽  
Expected Makespan ◽  
Better Than

Suppose that two machines are available to process n tasks. Each task has to be processed on both machines; the order in which this happens is immaterial. Task j has to be processed on machine 1 (2) for random time Xj (Yj) with distribution Fj (Gj). This kind of model is usually called an open shop. The time that it takes to process all tasks is normally called the makespan. Every time a machine finishes processing a task the decision-maker has to decide which task to process next. Assuming that Xj and Yj have the same exponential distribution we show that the optimal policy instructs the decision-maker, whenever a machine is freed, to start processing the task with longest expected processing time among the tasks still to be processed on both machines. If all tasks have been processed at least once, it does not matter what the decision-maker does, as long as he keeps the machines busy. We then consider the case of n identical tasks and two machines with different speeds. The time it takes machine 1 (2) to process a task has distribution F (G). Both distributions F and G are assumed to be new better than used (NBU) and we show that the decision-maker stochastically minimizes the makespan when he always gives priority to those tasks which have not yet received processing on either machine.

scholarly journals Analyst ratings for firms filing for and reorganizing under Chapter 11

2017 ◽  
Vol 16 (3) ◽  
pp. 303-321
Author(s):  
Elena Precourt ◽  
Henry Oppenheimer
Keyword(s):  
Private Information ◽  
Information Disclosure ◽  
Small Firms ◽  
Analyst Recommendations ◽  
Security Analysts ◽  
Content Type ◽  
And Performance ◽  
One Year ◽  
Better Than

Purpose The purpose of this paper is to examine analyst followings of firms starting from one year prior to their filing for Chapter 11 and as the firms progress through bankruptcy proceedings with a focus on firms receiving “Hold” or better recommendations. The authors attempt to answer questions such as what the common characteristics of the firms receiving stronger than expected recommendations one year prior to filing for bankruptcy reorganization or while in bankruptcy are, and how the market reacts to the issuance of stronger ratings for those firms. Design/methodology/approach The authors design various regressions and apply them to a total of 2,754 sell-side analyst recommendations and 325 firms that are either approaching bankruptcy filing or in the process of reorganizing. In each analysis, the authors control for several firm and performance characteristics. Findings The authors find that the probability of securing stronger ratings is higher for small firms and for those followed by a greater number of analysts than for large firms and firms followed by fewer analysts. The market becomes more skeptical of optimistic evaluations closer to the date of bankruptcy filing (perhaps reflecting some anticipation) and reacts more positively to rating upgrades issued during bankruptcy protection than to the upgrades issued before the bankruptcy filing. Research limitations/implications The conclusions are based on the analysis of analyst recommendations issued shortly before Chapter 11 filings and during bankruptcy proceedings. The conclusions could be strengthened by further analysis of firms’ post-bankruptcy recovery and performance and examination of analyst recommendations issued for the firms after they emerge from Chapter 11.. Practical implications Analyst security ratings that are more positive than expected are perhaps the result of superior expertise and access to private information. During bankruptcy proceedings, when information disclosure is limited, investors could greatly benefit from reports issued by security analysts. Originality/value This study contributes to the literature in a number of ways. First, the authors contribute to the literature on the analyst ratings of firms in distress by considering the period between bankruptcy filing and emergence, while the existing literature provides analysis of pre-bankruptcy recommendations and forecasts. Second, the authors focus on better than expected ratings rather than all types of ratings as the firms approach bankruptcy filings and proceed through reorganization. Finally, they evaluate how investors react to stronger than expected analyst ratings.

scholarly journals Performance Investigation of Antivirus - A Comparative Analysis

2017 ◽  
Vol 10 (1) ◽  
pp. 201-206
Author(s):  
Remya Thomas ◽  
M Nachamai
Keyword(s):  
Comparative Analysis ◽  
Computer Program ◽  
Private Information ◽  
Hard Disk ◽  
Host Computer ◽  
Malicious Software ◽  
Open Network ◽  
Cpu Time ◽  
Full Scan ◽  
Better Than

Antivirus as name implies prevent the devices such as computers, mobiles and pen-drive from viruses. All gadgets which interact with open network are prone to virus. Virus is a malicious software program which replicates by copying its code multiple times or by infecting any computer program (like modifying the existing program) which can affect its process. Virus perform harmful task on affected host computer such as possessing on hard disk, CPU time, accessing private information etc. This paper specifies the performance of (McAFee, Avast, Avira, Bitdefender, Norton) antivirus and its effectiveness on the computer. The performance is tested based on the time acquired by each antivirus to act on a computer. The parameters used to analyze the performance are quick scan, full scan and custom scan with respect to time. Through the analysis Bitdefender performance is better than other selected antivirus.

scholarly journals How Much Would You Pay to Change a Game before Playing It?

Entropy ◽  
2019 ◽  
Vol 21 (7) ◽  
pp. 686
Author(s):  
David Wolpert ◽  
Justin Grana
Keyword(s):  
Willingness To Pay ◽  
Decision Maker ◽  
Direct Effect ◽  
Private Information ◽  
The Other ◽  
Rational Decision ◽  
Arbitrary Solution ◽  
Quantal Response ◽  
Parameter Change ◽  
Matching Pennies

Envelope theorems provide a differential framework for determining how much a rational decision maker (DM) is willing to pay to alter the parameters of a strategic scenario. We generalize this framework to the case of a boundedly rational DM and arbitrary solution concepts. We focus on comparing and contrasting the case where DM’s decision to pay to change the parameters is observed by all other players against the case where DM’s decision is private information. We decompose DM’s willingness to pay a given amount into a sum of three factors: (1) the direct effect a parameter change would have on DM’s payoffs in the future strategic scenario, holding strategies of all players constant; (2) the effect due to DM changing its strategy as they react to a change in the game parameters, with the strategies of the other players in that scenario held constant; and (3) the effect there would be due to other players reacting to a the change in the game parameters (could they observe them), with the strategy of DM held constant. We illustrate these results with the quantal response equilibrium and the matching pennies game and discuss how the willingness to pay captures DM’s anticipation of their future irrationality.

scholarly journals MULTISTAGE COMMUNICATION WITH AND WITHOUT VERIFIABLE TYPES

2008 ◽  
Vol 10 (02) ◽  
pp. 145-164 ◽  
Author(s):  
FRÉDÉRIC KOESSLER ◽  
FRANÇOISE FORGES
Keyword(s):  
Information Transmission ◽  
Decision Maker ◽  
Cheap Talk ◽  
Strategic Information ◽  
Strategic Information Transmission ◽  
Bounded Number

We survey selected results on strategic information transmission. We distinguish between "cheap talk" and "persuasion". In the latter model, the informed player's message set depends on his type. As a benchmark, we first assume that the informed player sends a single message to the decision maker. We state characterization results for the sets of equilibrium payoffs, with and without verifiable types. We then show that multistage, bilateral communication enables the players to achieve new equilibrium outcomes, even if types are verifiable. We also propose complete characterizations of the equilibrium payoffs that are achievable with a bounded number of communication rounds.

scholarly journals IMPLEMENTATION OF PRIVACY PRESERVING AND DYNAMIC SEARCHING MECHANISM WITH BIOMETRIC AUTHENTICATION IN CLOUD STORAGE

2021 ◽  
Vol 9 (2) ◽  
pp. 894-912
Author(s):  
Sarita Motghare, Et. al.
Keyword(s):  
Private Information ◽  
Cloud Storage ◽  
User Authentication ◽  
Third Party ◽  
Mining Operations ◽  
Search System ◽  
Data Set ◽  
External Data ◽  
Main Challenge ◽  
Better Than

In the recent times, cloud storage tends to be a primary storage means for external data. Cloud defense of the data against attacks is the main challenge. Private or semi-private information growth has rapidly expanded over the information network; privacy safeguards have failed to address the search mechanisms. In the field of information networks, privacy protection is an important factor in carrying out various data mining operations with encrypted data stored in different storage systems. A tolerance and protection against data corruption mechanism should be developed which is difficult to achieve. Furthermore, as there is no adequate audit mechanism, the integrity of the stored data become questionable. In addition to this, the user authentication is another challenge. The current solution provides only a remote audit mechanism. It requires data owners to always remain online so that the auditing process is manually handled, which is sometimes unworkable. In this paper, we propose a new, regenerative, public audit methodology accompanied by third-party audits. The existing data search system provides one solution that can be used to maintain the confidentiality of indexing. Documents are stored on a private server in plain word form, which compromise the protection of privacy. So that this system is improved to make the document more secure and efficient, we first store the documents in encrypted form on server, and use the Key Distribution Center (KDC). To generate keys the KDC uses the user's biometric feature. In order to improve the search experience, we also implement TF-IDF, which provides an efficient evaluation of the results. Lastly, we carry out comprehensive data set experiments to evaluate our proposed system performance. Experimental results demonstrate that in terms of safeguarding the privacy, efficient and safe search for encrypted distributed documents the proposed system is better than existing. The methodology suggested also includes an auditing mechanism by third parties to ensure data integrity.

scholarly journals The loser's curse in the search for advice

2019 ◽  
Vol 14 (3) ◽  
pp. 1015-1061
Author(s):  
Pak Hung Au
Keyword(s):  
Social Welfare ◽  
Information Transmission ◽  
Information Aggregation ◽  
Sufficient Condition ◽  
Necessary And Sufficient Condition ◽  
Search Cost ◽  
Quality Of Information ◽  
Multiple Experts ◽  
Necessary And Sufficient

An agent searches sequentially for advice from multiple experts concerning the payoff of taking an operation. After incurring a positive search cost, the agent can consult an expert whose interest is partially aligned with him. There are infinitely many experts, each has access to an identically and conditionally independent signal structure about the payoff, and each makes a recommendation after observing the signal realization. We find that the experts face a loser's curse, which could hamper the quality of information transmission. This effect is illustrated by studying the limit of equilibria with vanishing search cost. The main findings are as follows. First, there are signal structures with which both the agent's payoff and social welfare are strictly lower than the alternative scenario in which the agent commits to consulting a single expert only. Second, under some signal structures, no information can be transmitted in equilibrium, even though informative recommendation is possible if the agent could commit to a single expert. Finally, we identify the necessary and sufficient condition that ensures perfect information aggregation in the limit.

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