12,143 research outputs found
Fixed-Length Strong Coordination
We consider the problem of synthesizing joint distributions of signals and
actions over noisy channels in the finite-length regime. For a fixed
blocklength and an upper bound on the distance , a coding
scheme is proposed such that the induced joint distribution is
-close in distance to a target i.i.d. distribution. The set
of achievable target distributions and rate for asymptotic strong coordination
can be recovered from the main result of this paper by having that tends to
infinity.Comment: 5 pages, 2 figure
Optimal Degree of Public Information Dissemination
Financial markets and macroeconomic environments are often characterized by positive externalities. In these environments, transparency may reduce expected welfare from an ex-ante point of view: public announcements serve as a focal point for higher-order beliefs and affect agents’ behaviour more than justified by their informational contents. Some scholars conclude that it might be better to reduce the precision of public signals or entirely withhold information. This paper shows that public information should always be provided with maximum precision, but under certain conditions not to all agents. Restricting the degree of publicity is a better-suited instrument for preventing the negative welfare effects of public announcements than restrictions on their precision are
Information Design for Strategic Coordination of Autonomous Devices with Non-Aligned Utilities
In this paper, we investigate the coordination of autonomous devices with
non-aligned utility functions. Both encoder and decoder are considered as
players, that choose the encoding and the decoding in order to maximize their
long-run utility functions. The topology of the point-to-point network under
investigation, suggests that the decoder implements a strategy, knowing in
advance the strategy of the encoder. We characterize the encoding and decoding
functions that form an equilibrium, by using empirical coordination. The
equilibrium solution is related to an auxiliary game in which both players
choose some conditional distributions in order to maximize their expected
utilities. This problem is closely related to the literature on "Information
Design" in Game Theory. We also characterize the set of posterior distributions
that are compatible with a rate-limited channel between the encoder and the
decoder. Finally, we provide an example of non-aligned utility functions
corresponding to parallel fading multiple access channels.Comment: IEEE Proc. of the Fifty-fourth Annual Allerton Conference Allerton
House, UIUC, Illinois, USA September 27 - 30, 201
Robust Location-Aided Beam Alignment in Millimeter Wave Massive MIMO
Location-aided beam alignment has been proposed recently as a potential
approach for fast link establishment in millimeter wave (mmWave) massive MIMO
(mMIMO) communications. However, due to mobility and other imperfections in the
estimation process, the spatial information obtained at the base station (BS)
and the user (UE) is likely to be noisy, degrading beam alignment performance.
In this paper, we introduce a robust beam alignment framework in order to
exhibit resilience with respect to this problem. We first recast beam alignment
as a decentralized coordination problem where BS and UE seek coordination on
the basis of correlated yet individual position information. We formulate the
optimum beam alignment solution as the solution of a Bayesian team decision
problem. We then propose a suite of algorithms to approach optimality with
reduced complexity. The effectiveness of the robust beam alignment procedure,
compared with classical designs, is then verified on simulation settings with
varying location information accuracies.Comment: 24 pages, 7 figures. The short version of this paper has been
accepted to IEEE Globecom 201
Keynesian Beauty Contest, Accounting Disclosure, and Market Efficiency
This paper examines the market efficiency consequences of accounting disclosure in the context of stock markets as a Keynesian beauty contest, an influential metaphor originally proposed by Keynes (1936) and recently formalized by Allen, Morris, and Shin (2006). In such markets, public information plays an additional commonality role, biasing stock prices away from the consensus fundamental value toward public information. Despite this bias, I demonstrate that provisions of public information always drive stock prices closer to the fundamental value. Hence, as a main source of public information, accounting disclosure enhances market efficiency, and transparency should not be compromised on grounds of the Keynesian-beauty-contest effect.Keynesian Beauty Contest, Public Information, Coordination, Market Efficiency
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