Noise and aggregation of information in large markets

We study a novel class of noisy rational expectations equilibria in markets with largenumber of agents. We show that, as long as noise increases with the number of agents inthe economy, the limiting competitive equilibrium is well-defined and leads to non-trivialinformation acquisition, perfect information aggregation, and partially revealing prices,even if per capita noise tends to zero. We find that in such equilibrium risk sharing and price revelation play dierent roles than in the standard limiting economy in which per capita noise is not negligible. We apply our model to study information sales by a monopolist, information acquisition in multi-asset markets, and derivatives trading. Thelimiting equilibria are shown to be perfectly competitive, even when a strategic solutionconcept is used.

Comparison of information structures

We introduce two ways of comparing information structures, say ${\cal I}$ and${\cal J}$. First we say that ${\cal I}$ is richer than ${\cal J}$ when forevery compact game $G$, all correlated equilibrium distributions of $G$ inducedby ${\cal J}$ are also induced by ${\cal I}$. Second, we say that ${\cal J}$is faithfully reproducable from ${\cal I}$ when all the players can computefrom their information in ${\cal I}$ ``new information'' that they could havereceived from ${\cal J}$. We prove that ${\cal I}$ is richer than ${\cal J}$if and only if ${\cal J}$ is faithfully reproducable from ${\cal I}$.

Principis deontològics dels professionals de la informació i la documentació: el codi de l'European Council of Information Associations (ECIA)

Qualsevol professió té, o hauria de tenir, un codi de regles ètiques que els seus membres normalment respecten i que fan servir com a guia en el cas que hagin de prendre decisions moralment difícils. Durant la reunió celebrada el novembre de 1998 a Lisboa, les associacions membres de l'ECIA van acordar adoptar un codi ètic que fos vàlid per als professionals de tots els països de la Unió Europea. Aquest codi no pot ser més que un enunciat de principis generals i deixa en mans de cada associació la facultat de desenvolupar-lo per tal que respongui a necessitats especials o nacionals. Un primer projecte fou presentat i discutit a la reunió de l'ECIA de març de 1999. La present revisió incorpora les modificacions proposades aleshores, elements provinents de codis d'altres organitzacions que foren presentats en la reunió a la consideració de l'autor, així com alguns aclariments.

Agency Fact Sheet, Department of Information Technology, FY2002

This document produced by the Iowa Department of Administrative Services has been developed to provide a multitude of information about executive branch agencies/department on a single sheet of paper. The facts provides general information, contact information, workforce data, leave and benefits information and affirmative action data.

Use of information on the manufacture of samples for the optical characterization of multilayers through a global optimization

We present a procedure for the optical characterization of thin-film stacks from spectrophotometric data. The procedure overcomes the intrinsic limitations arising in the numerical determination of manyparameters from reflectance or transmittance spectra measurements. The key point is to use all theinformation available from the manufacturing process in a single global optimization process. The method is illustrated by a case study of solgel applications.

Agency Fact Sheet, Department of Information Technology, FY2003

This document produced by the Iowa Department of Administrative Services has been developed to provide a multitude of information about executive branch agencies/department on a single sheet of paper. The facts provides general information, contact information, workforce data, leave and benefits information and affirmative action data.

How Much Does It Cost? Optimization of Costs in Sequence Analysis of Social Science Data

One major methodological problem in analysis of sequence data is the determination of costs from which distances between sequences are derived. Although this problem is currently not optimally dealt with in the social sciences, it has some similarity with problems that have been solved in bioinformatics for three decades. In this article, the authors propose an optimization of substitution and deletion/insertion costs based on computational methods. The authors provide an empirical way of determining costs for cases, frequent in the social sciences, in which theory does not clearly promote one cost scheme over another. Using three distinct data sets, the authors tested the distances and cluster solutions produced by the new cost scheme in comparison with solutions based on cost schemes associated with other research strategies. The proposed method performs well compared with other cost-setting strategies, while it alleviates the justification problem of cost schemes.

Drawbacks in the scientification of forensic science

This letter to the Editor comments on the article On the limitations of probability in conceptualizing pattern matches in forensic science by P. T. Jayaprakash (Forensic Science International

What is the value of forensic science? : an overview of the effectiveness of forensic science in the Australian criminal justice system project

Forensic science is increasingly relied upon by law enforcement to assist in solvingcrime and gaining convictions, and by the judicial system in the adjudication ofspecific criminal cases. However, the value of forensic science relative to the workinvolved and the outcome of cases has yet to be established in the Australiancontext. Previous research in this area has mainly focused on the science andtechnology, rather than examining how people can use forensic services/science tothe best possible advantage to produce appropriate justice outcomes. This fiveyearproject entails an investigation into the effectiveness of forensic science inpolice investigations and court trials. It aims to identify when, where and howforensic science can add value to criminal investigations, court trials and justiceoutcomes while ensuring the efficient use of available resources initially in theVictorian and the ACT criminal justice systems and ultimately across Australiaand New Zealand. This paper provides an overview of the rationale and aims ofthe research project and discusses current work-in-progress.