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Modern online platforms rely on effective rating systems to learn about items. We consider the optimal design of rating systems that collect binary feedback after transactions. We make three contributions. First, we formalize the performance of a rating system as the speed with which it recovers the true underlying ranking on items (in a large deviations sense), accounting for both items underlying match rates and the platforms preferences. Second, we provide an efficient algorithm to compute the binary feedback system that yields the highest such performance. Finally, we show how this theoretical perspective can be used to empirically design an implementable, approximately optimal rating system, and validate our approach using real-world experimental data collected on Amazon Mechanical Turk.
Platforms critically rely on rating systems to learn the quality of market participants. In practice, however, these ratings are often highly inflated, and therefore not very informative. In this paper, we first investigate whether the platform can o
We study learning in a noisy bisection model: specifically, Bayesian algorithms to learn a target value V given access only to noisy realizations of whether V is less than or greater than a threshold theta. At step t = 0, 1, 2, ..., the learner sets
Sequential learning systems are used in a wide variety of problems from decision making to optimization, where they provide a belief (opinion) to nature, and then update this belief based on the feedback (result) to minimize (or maximize) some cost o
We present algorithms for efficiently learning regularizers that improve generalization. Our approach is based on the insight that regularizers can be viewed as upper bounds on the generalization gap, and that reducing the slack in the bound can impr
Formal models of learning from teachers need to respect certain criteria to avoid collusion. The most commonly accepted notion of collusion-freeness was proposed by Goldman and Mathias (1996), and various teaching models obeying their criterion have