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This chapter develops the proper modally inflected understanding of the living animals on earth, which are the most plausible examples of entities that enjoy phenomenal consciousness, which is the first core feature of the MOUDD theory. It includes an introduction to the necessary rudiments of neurophysiology.
This chapter lays the foundation of probability theory, which has a central role in statistical mechanics. It starts the exposition with Kolmogorov’s axioms of probability theory and develops the vocabulary through example cases. Some time is spent on sigma algebras and the role they play in probability theory, and more specifically to properly define random variables on the reals. In particular, the popular notion that ‘the probability for a real variable to take on a single value’ is critically analysed and contextualised. Indeed, there are situations in statistical mechanics where some mechanical variables on the reals do get a non-zero probability to take on a single value. Moments and cumulants are introduced, as well as the method of generating functions, which prepare the ground as efficacious tools for statistical mechanics. Finally, Jaynes’s least-biased distribution principle is introduced in order to obtain a priori probabilities given some constraints imposed on the system.
One of life’s most fundamental revelations is change. Presenting the fascinating view that pattern is the manifestation of change, this unique book explores the science, mathematics, and philosophy of change and the ways in which they have come to inform our understanding of the world. Through discussions on chance and determinism, symmetry and invariance, information and entropy, quantum theory and paradox, the authors trace the history of science and bridge the gaps between mathematical, physical, and philosophical perspectives. Change as a foundational concept is deeply rooted in ancient Chinese thought, and this perspective is integrated into the narrative throughout, providing philosophical counterpoints to customary Western thought. Ultimately, this is a book about ideas. Intended for a wide audience, not so much as a book of answers, but rather an introduction to new ways of viewing the world.
In this chapter, we explore the concept of information in living organisms in its broadest sense. Biological organisms perceive the external environment, alter their own state, and take action (selection among possibilities). To capture these properties intrinsic to the organisms, we begin by discussing the “information quantity” that quantifies such situations. Starting with the definition of information quantity, we introduce Shannon entropy and provide an overview of Shannon’s information theory framework. We also discuss Kullback–Leibler divergence and mutual information. Next, moving on to information in DNA sequences, we cover various aspects such as differences in the frequency of AT and GC occurrence, the structure of genetic codes, long-range correlations in DNA sequences, and recent findings in intergenic sequences. Additionally, we explain kinetic proofreading as one candidate for achieving high accuracy in molecular recognition from a combination of unreliable elements. Furthermore, we explore the relationship between entropy in statistical mechanics and information, elucidating the connection between Maxwell’s demon and information using the Szilard engine as a mediator. Finally, we introduce intriguing points from the perspective of dynamics and information, highlighting the dynamic interplay between the two.
This chapter deals with banks as creators and stores of money. We first offer an overview of the economic theories developed in the 1960s and 1970s, where the role of banks depended on their function of transmitting monetary policy of the central bank to the rest of the economic system. We then discuss more modern interpretations that explain the role of banks based on their ability to resolve the informational asymmetry between investors (borrowers) and savers (lenders). Financial innovation raises the question of whether banks may disappear, replaced by financial markets and digital credit management techniques, including artificial intelligence, that minimize the need for human intervention. The experience of financial crises has given new life to reform proposals where banks would be split into a depositary institution providing payment services and an investment arm providing long-term credit and financing itself at long maturities. A related proposal, also aiming at reducing the risk of crises, would subject depository institutions to a 100 percent reserve constraint (the so-called Chicago proposal). At the end of the chapter, reasons are given as to why these proposals should be discarded because they would neither reduce the risk of crises nor give rise to a more efficient intermediation system.
This chapter argues that advisory proceedings have the procedural flexibility to enable individuals’ participation, despite the Court’s reluctance to bring such participation to fruition. It first dispels the myth that witnesses are limited to the confines of contentious proceedings. It then discusses the Court’s sparse engagement with amici curiae. Finally, it explores the potential of the analogous extension of Article 66(2) of the Court’s Statute, authorising the furnishing of information by entities beyond states and international organisations.
The political idea of self-government has a natural elaboration, which is that a society is self-governing when it is ruled by the will of the people of that society. A variety of attempts to vindicate popular will conceptions of self-government exist but I argue that they are fatally flawed. In its place, we need a conception of self-government that is deflationary (that is does not rely on the existence of a popular will) but nevertheless quite demanding. I discuss some deflationary accounts of self-government and I argue for an account that emphasizes an egalitarian collective decision-making process but that also recognizes the importance of outcomes. I argue that attention to the conditions necessary to the achievement of self-government of an egalitarian sort is essential to how we are to think of the proper aims of constitutional institutions. We need to attend to how information is disseminated to citizens and how citizens can have the sophistication necessary to understand information. An egalitarian conception of self-government can show how the constitution of a society should be structured so as to achieve equality in these two dimensions of the information system.
This study investigates the effects of media exposure on gender gaps in political participation in post-war Liberia. Five weeks prior to the 2011 general election, women eligible voters in randomly selected villages were provided radio sets and organized to listen to and discuss a series of elections-related programmes from a ’trusted’ United Nations radio in group settings. Results show the programme had positive effects on measures of women’s political participation, but not on men’s political behaviours, suggesting potential narrowing of gender gaps. Results also show the programme improved the quality of women’s political engagement in a way that reflected their own preferences and voting autonomy. Mediation analysis suggests that programme effects likely occurred through enhanced women’s political knowledge and efficacy and by harnessing coordination and mobilization potential of pre-existing civil society groups of a political character.
We introduce the concepts of sample space, sigma-field, and probability measure, which are the three components defining a probability space. We explain that, in general, many probability measures can be associated to a given sample space; which one to pick depends on the problem. Similarly, the list of events for which the probability can be computed in a given problem is the smallest sigma-field built from the events for which the probability is known from the problem. The discrete sigma-field corresponds to the special case where the information provided is substantial enough to yield the probability of every event. This establishes the connection between the concept of information and sigma-field, and shows that the latter is the appropriate structure to serve as definition domain of probability measures. We conclude the chapter with the concept of independence between events and between sigma-fields. Those concepts are illustrated on various examples featuring coins and colored dice. We conclude the chapter by proposing a first model to describe future stock prices.
We investigate how people make choices when they are unsure about the value of the options they face and have to decide whether to choose now or wait and acquire more information first. In an experiment, we find that participants deviate from optimal information acquisition in a systematic manner. They acquire too much information (when they should only collect little) or not enough (when they should collect a lot). We show that this pattern can be explained as naturally emerging from Fechner cognitive errors. Over time participants tend to learn to approximate the optimal strategy when information is relatively costly.
This paper evaluates the effects of some standard procedural variations on outcomes in posted offer oligopoly experiments. Variations studied include the presence or absence of market information, the use of re-matched or fixed seller pairs and alterations in the order of sequencing. Experimental results indicate that such variations can have first order effects on outcomes. For this reason, we recommend that results in oligopoly experiments be carefully interpreted in light of the procedures selected.
Economic models typically allow for “free disposal” or “reversibility” of information, which implies non-negative value. Building on previous research on the “curse of knowledge” we explore situations where this might not be so. In three experiments, we document situations in which participants place positive value on information in attempting to predict the performance of uninformed others, even when acquiring that information diminishes their earnings. In the first experiment, a majority of participants choose to hire informed—rather than uninformed—agents, leading to lower earnings. In the second experiment, a significant number of participants pay for information—the solution to a puzzle—that hurts their ability to predict how many others will solve the puzzle. In the third experiment, we find that the effect is reduced with experience and feedback on the actual performance to be predicted. We discuss implications of our results for the role of information and informed decision making in economic situations.
The work undertook is located between Public Economic Theory and Experimental Economics. The object of the thesis consists in analysing the aggregate behavior and the individual heterogeneity in a voluntary contribution game. The thesis defended here is that overcontribution in comparison to the Nash equilibrium of the game, can not be explained neither by judgement errors, nor by the information on the individual behaviour of the members in a one given group. The level of contribution observed remains nevertheless inferior to the one simulated using the E.W.A. learning model.
The dissertation is composed of three parts and six chapters. The first chapter expresses the various theoretical mechanisms of production of a public good, while the second one presents an overview of the experimental literature using voluntary contribution mechanisms.
The second part carries on the introduction of an interior solution in a public good game in order to distinguish an explanation of overcontribution in terms of mistakes or strategies. While chapter three presents the most important works in literature that use an interior solution, the fourth chapter constitutes a personal contribution consisting in an experiment with an interior optimum. Our main result is that individuals contribute a constant part of their social optimum and that overcontribution is not explained by error. We test then the simple learning model R.L. using the observed data on the aggregate level. This model predicts well the observed behaviour.
The third part is composed of two experiments where the environment of players is modified. We introduce in chapter five promises as cheap talk and find that they increase contributions at the aggregate level. In chapter six, various conditions of information on individual contributions are tested. The parameter tested is the level of information on “neighbours” contributions given to players. One of the treatments presents full information about individual contributions of the members of the group, while this information is incomplete in the other treatments. Our results show that information has no effect on the level of contribution. We simulate then the EWA learning model both at the aggregate and the individual levels and compare the simulated data to the experimental one. These simulations predict a level of contribution that is higher that the one observed in the experiment.
Research from the last four decades suggests that fairness plays an important role in economic transactions. However, the vast majority of this research investigates behavior in an environment where agents are fully informed. We develop a new experimental paradigm—nesting the widely used ultimatum game—and find that fairness has less impact on outcomes when agents are less informed. As we remove information, offers become less generous and unfair offers are more likely to be accepted.
We conduct an experiment on a minimum effort coordination game in a (quasi-)continuous time-frame, where effort choices can be switched freely during a 60-s period. The cooperation levels of the continuous time treatments are not significantly different from the discrete time treatments. Providing subjects with the information on the effort choices of all group members increases the average effort level in continuous time only. The minimum effort level in continuous time with full information feedback is also substantially higher than that with limited information feedback, but the difference is statistically insignificant. With limited information feedback, subjects rarely coordinate to increase their efforts simultaneously to change the group minimum within a period. Our findings imply that continuous time games are not behaviorally equivalent to infinitely repeated discrete time games.
We experimentally investigate the impact of recognizing contributors on public good contributions. We vary recognizing all, highest or lowest contributors. Consistent with previous studies, recognizing all contributors significantly increases contributions relative to the baseline. Recognizing only the highest contributors does not increase contributions compared to not recognizing contributors, while recognizing only the lowest contributors is as effective as recognizing all contributors. These findings support our conjecture that aversion from shame is a more powerful motivator for giving than anticipation of prestige.
We use data from experiments on finitely repeated dilemma games with fixed matching to investigate the effect of different types of information on cooperation. The data come from 71 studies using the voluntary contributions paradigm, covering 122 data points, and from 18 studies on decision-making in oligopoly, covering another 50 data points. We find similar effects in the two sets of experimental games. We find that transparency about what everyone in a group earns reduces contributions to the public good, as well as the degree of collusion in oligopoly markets. In contrast, transparency about choices tends to lead to an increase in contributions and collusion, although the size of this effect varies somewhat between the two settings. Our results are potentially useful for policy making, because they provide guidance on the type of information to target in order to stimulate or limit cooperation.
Several studies have shown a relationship between the stocks of migrants and country-level investment in the home country; however the mechanism through which this relationship operates is still unexplored. We use a field experiment in which participants who are recent immigrants send information about risky decisions to others in their social network in their home country. The results demonstrate how this information influences decisions in the home country. We find that the advice given by family members and decisions made by friends significantly affects an individual’s risky decision-making.
Experimental and empirical evidence highlights the role of networks on social outcomes. This paper tests the properties of exogenously fixed networks in team production. Subjects make the same decisions in a team work environment under four different organizational networks: the line, the circle, the star, and the complete network. In all the networks, links make information available to neighbors. This design allows us to analyze decisions across networks and a variety of subject types in a standard linear team production game. Contribution levels differ significantly across networks and the star is the most efficient incomplete network. Moreover, our results suggest that subjects act as conditional cooperators with respect to the information received from the network.
We analyze a bargaining protocol recently proposed in the literature vis-à-vis unconstrained negotiation. This new mechanism extracts “gains from trade” inherent in the differing valuation of two parties towards various issues where conflict exists. We assess the role of incomplete vs. complete information in the efficiency achieved by this new mechanism and by unconstrained negotiation. We find that unconstrained negotiation does best under a situation of complete information where the valuations of both bargaining parties are common knowledge. Instead, the newly proposed mechanism does best in a situation with incomplete information. The sources of inefficiencies in each of the two cases arise from the different strategic use of the available information.