Wed, Mar 06, 2019 @ 11:30 AM - 12:30 PM
Ming Hsieh Department of Electrical and Computer Engineering
Conferences, Lectures, & Seminars
Speaker: Vijay G. Subramanian, Electrical Engineering and Computer Science, University of Michigan
Talk Title: One If By Land and Two If By Sea: A Glimpse into the Value of Information in Strategic Interactions
Series: Center for Cyber-Physical Systems and Internet of Things
Abstract: This work studies sequential social learning (also known as Bayesian observational learning), and how private communication can enable agents to avoid herding to the wrong action/state. Starting from the seminal BHW (Bikhchandani, Hirshleifer, and Welch, 1992) model where asymptotic learning does not occur, we allow agents to ask private and finite questions to a bounded subset of their predecessors. While retaining the publicly observed history of the agents and their Bayes rationality from the BHW model, we further assume that both the ability to ask questions and the questions themselves are common knowledge. Then interpreting asking questions as partitioning information sets, we study whether asymptotic learning can be achieved with finite capacity questions. Restricting our attention to the network where every agent is only allowed to query her immediate predecessor, an explicit construction shows that a 1-bit question from each agent is enough to enable asymptotic learning.
This is joint work with Shih-Tang Su and Grant Schoenebeck at the University of Michigan. Details of the work can be found at https://arxiv.org/abs/1811.00226
Biography: I am an Associate Professor in the EECS Department at the University of Michigan. My main research interests are in stochastic modeling, communications, information theory, and applied mathematics. A large portion of my past work has been on probabilistic analysis of communication networks, especially analysis of scheduling and routing algorithms. In the past, I have also done some work with applications in immunology and coding of stochastic processes. My current research interests are on game-theoretic and economic modeling of socio-technological systems and networks, and the analysis of associated stochastic processes.
Host: Ashutosh Nayyar
Audiences: Everyone Is Invited
Contact: Talyia White