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…
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…
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…
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…
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…