Consider any investor who fears ruin facing any set of investments that satisfy no-arbitrage. Before investing, he can purchase information about the state of nature in the form of an information structure. Given his prior, information structure α is more informative than information structure β if whenever he rejects α at some price, he also rejects β at that price. We show that this complete ...

I begin with an explication of “thought experiment”. I then clarify the role that intuitions play in thought experiments by addressing two important issues: (1) the informativeness of thought experiments and (2) the legitimacy of the method of thought experiments in philosophy and the natural sciences. I defend a naturalistic account of intuitions that provides a plausible explanation of the in...

This research aims to establish a quantitative relation between probability statements and their “informativeness.” Keren & Teigen (2001) proposed the “search for definitive predictions” principle. According to this principle, relatively high or low probabilities are preferred to medium ones because high or low probabilities denote the occurrence or nonoccurrence of a single outcome more strong...

This paper examines the “relative” information contained in insider director transactions. We find that insider transactions of multi-company directors reflect superior information about future relative returns; that is, directors are more likely to buy (sell) stocks of firms they direct that have better (worse) future returns. Examining related issues, we find weak support that December tax lo...

In this paper we present a novel method for unsupervised coreference resolution. We introduce a precision-oriented inference method that scores a candidate entity of a mention based on the most informative mention pair relation between the given mention entity pair. We introduce an informativeness score for determining the most precise relation of a mention entity pair regarding the coreference...

We compare the impact of mandatory against voluntary ownership transfer on stock price informativeness using the unique research setting provided by the Split Share Structure Reform in China. Ownership transfers from state to private entity are expected to improve corporate governance, which in turn reduce managerial incentives to withhold value-relevant information to outside investor. However...

Project Title: Term Informativeness PI: T. Jaakkola Participants: Jason Rennie and Tommi Jaakkola (MIT CSAIL) Abstract: Informal communication (e-mail, bulletin boards) poses a difficult learning environment because traditional grammatical and lexical information are noisy. For named entity extraction how topic-centric, or “informative,” a word is can provide valuable additional information. We...