5 papers
Exploration and Stopping
Yuliy Sannikov, Weijie Zhong
We study a decision-maker who explores --- dynamically choosing what to learn --- before stopping to act. We first reduce this dynamic control problem to a static one: any explorat…
Persuasion and Optimal Stopping
Andrew Koh, Sivakorn Sanguanmoo, Weijie Zhong
We develop a duality-based first-order approach to dynamic persuasion in optimal stopping problems with general action-, state-, and time-dependent preferences. A direct-communicat…
Pricing Access to Dynamic Information Services
Weijie Zhong
A provider sells a \emph{dynamic information service}---a real-time, capacity-constrained process that resolves a customer's uncertainty---to customers who differ privately in urge…
The Cost of Optimally Acquired Information
Alexander W. Bloedel, Weijie Zhong
This paper introduces a framework for modeling the cost of information acquisition based on the principle of cost-minimization. We study the reduced-form \emph{indirect cost} of in…
Rank-Guaranteed Auctions
Wei He, Jiangtao Li, Weijie Zhong
We propose a combinatorial ascending auction that is "approximately" optimal, requiring minimal rationality to achieve this level of optimality, and is robust to strategic and dist…