OxTalks will soon be transitioning to Oxford Events (full details are available on the Staff Gateway). A two-week publishing freeze is expected in early Hilary to allow all events to be migrated to the new platform. During this period, you will not be able to submit or edit events on OxTalks. The exact freeze dates will be confirmed as soon as possible.
If you have any questions, please contact halo@digital.ox.ac.uk
We develop an axiomatic theory of information acquisition that captures the idea of constant marginal costs in information production: the cost of generating two independent signals is the sum of their costs, and generating a signal with probability half costs half its original cost. Together with a monotonicity and a continuity conditions, these axioms determine the cost of a signal up to a vector of parameters.These parameters have a clear economic interpretation and determine the difficulty of distinguishing states. We argue that this cost function is a versatile modeling tool that leads to more realistic predictions than mutual information.
Please sign up for meetings below:
docs.google.com/spreadsheets/d/1r32GYl_eL8bInJ04hTBz1ezVGXB8YitXA3om1Yjoh5I/edit#gid=0
Link to paper:
tamuz.caltech.edu/papers/cost_of_information.pdf
