We show how auction theory can be used in the analysis of order statistics. In particular, we use a thought experiment in which we allocate signals to bidders who compete in a k+ 1-price auction. We use recent results about information aggregation in auction with many bidders to show that the amount of information in the k-th order statistics is increasing in k in the limit when the number of s...

We consider equilibrium timing decisions in a model with a large number of players and informational externalities. The players have private information about a common payo¤ parameter that determines the optimal time to invest. They learn from each other in real time by observing past investment decisions. We develop new methods of analysis for such large games, and we give a full characterizat...

Prediction markets have been shown to be a useful tool in forecasting the outcome of future events by aggregating public opinion about the event’s outcome. We consider an analogous problem of information fusion from multiple sensors of different types with the objective of improving the confidence of inference tasks, such as object classification. We develop a multi-agent prediction market-base...

This study examines the effects of information consistency and information aggregation on eWOM readers’ perception of information overload; we also examine the influence of information overload on eWOM readers’ perception of information usefulness. An online experiment using a stimulated online consumers’ review forum, which manipulated the two factors-information consistency (high and low) and...

while ignoring income distribution and estimating aggregate demand generally leads to aggregation bias and thus, does not reflect households’ demand properly, yet aggregation bias is rarely considered in empirical demand studies and simply is ignored in most cases. the objective of the present study is to estimate aggregation bias in households’ demand for various types of meats and to evaluate...

protein aggregation is a serious problem for both biotechnology and cell biology. diseases such as prion misfolding, alzheimer’s, and other amyloidosis are phenomena for which protein aggregation in our living cells is of considerable relevance. human lysozyme has been shown to form amyloid fibrils in individuals suffering from nonneuropathic systemic amyloidosis, all of which have point mutati...

a series of novel 2-aminopyrimidine and 2-substituted-4,6-diaminopyrimidine derivatives have been synthesized and their anti platelet aggregation activities were assessed against adp and arachidonic acid- induced platelet aggregation in human plasma using light transmission aggregometry. none of the compounds showed satisfactory activity against the aggregation induced by adp. however, satisfac...

We present an information-theoretic cost function for co-clustering, i.e., for simultaneous clustering of two sets based on similarities between their elements. By constructing a simple random walk on the corresponding bipartite graph, our cost function is derived from a recently proposed generalized framework for information-theoretic Markov chain aggregation. The goal of our cost function is ...

A security design model shows that multinational firms needing to finance their operations should issue different securities to investors in different countries in order to aggregate their disparate information about domestic and foreign cash flows. However, if the firm becomes bankrupt, investors may face uncertain costs of reorganizing assets in a foreign country and thus may value foreign as...

We propose a generalization of the notion of the neutral element of aggregation operators. Our construction involves tuples of values that are neutral with respect to the result of aggregation. We model situations in which information from different sources, or preferences of several decision makers, cancel each other.