Cheap, managed death

The death of managed care as we know it.

Cheap Bandits

We consider stochastic sequential learning problems where the learner can observe the average reward of several actions. Such a setting is interesting in many applications involving monitoring and surveillance, where the set of the actions to observe represent some (geographical) area. The importance of this setting is that in these applications, it is actually cheaper to observe average reward...

Information Transmission with Cheap and Almost-Cheap Talk∗

Communication in practice typically occurs through multiple channels, not all of which permit costless misrepresentation of private information. Accordingly, I study a model of strategic information transmission based on Crawford and Sobel (1982), but allow for communication through both cheap talk and messages on a second dimension where misreporting is costly. Using a forward-induction refine...

Selecting Cheap-talk Equilibria Selecting Cheap-talk Equilibria

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Supplementary Material: Cheap Bandits

Proof: We prove the lemma by the explicit construction of a graph. Consider a graph G consisting of d disjoint connected subgraphs denoted as Gj : j = 1, 2 . . . , d. Let the nodes in each subgraph have the same reward. The eigenvalues of the graph are {0, λ̂1, · · · , λ̂N−d}, where eigenvalue 0 is repeated d times. Note that the set of eigenvalues of the graph is the union of the set of eigenval...