The welfare effects of public opinion polls

This paper presents an experimental study of the effects of polls on voters’ welfare. The analysis shows that polls have a different effect on closely divided and lopsided divided electorates. The data show that in closely divided electorates (and only for these electorates) the provision of information on the voters’ distribution of preferences significantly raises the participation of subjects supporting the slightly larger team relative to the smaller team. This causes a substantial increase on the frequency of electoral victories of the larger team. As a consequence, we observe a steep decrease in the welfare of the members of the smaller team because they vote more often and yet they loose the elections more frequently. Polls are detrimental to aggregate welfare in closely divided electorates because the decrease in the payoffs of the minority is stronger than the increase in the payoffs of the majority. In lopsided divided electorates polls don’t have a significant different effect on the voters’ turnout conditional on their team size. We do observe an increase on the frequency of electoral victories of the larger team after the provision of information, but this is in part due to smaller teams’ members voting less frequently and saving the participation costs. As a consequence, while polls have a negative effect on the relative payoffs of the minority for these electorates as well, they have a positive effect on total welfare.     

Multilinear mappings and estimates of multiplicity

A method for estimating multiplicity of operators in terms of certain multilinear mappings is introduced. Several applications are given which include the following result: IfT is a completely non-unitary contraction on a complex Hilbert space, and for some vectorx ₀, then there exists a constant >0, such that for every positive integern, the multiplicity of the operatorT ⁿ is not less thann. This extends a result of B. Sz. Nagy and Foia [10].     

Multiplicativity of the gamma factors of Rankin–Selberg integrals for SO 2l × GL n

Let SO _2l be the special even orthogonal group, split or quasi–split, defined over a local non–Archimedian field. The Rankin–Selberg method for a pair of generic representations of SO _2l × GL _n constructs a family of integrals, which are used to define γ and L-factors. Here we prove full multiplicative properties for the γ-factor, namely that it is multiplicative in each variable. As a corollary, the γ-factor is identical with Shahidi’s standard γ-factor.     

Cycle Factors and Renewal Theory

For which values of k does a uniformly chosen 3‐regular graph G on n vertices typically contain n/k vertex‐disjoint k ‐cycles (a k ‐cycle factor)? To date, this has been answered for k = n and for k ? log n ; the former, the Hamiltonicity problem, was finally answered in the affirmative by Robinson and Wormald in 1992, while the answer in the latter case is negative since with high probability (w.h.p.) most vertices do not lie on k ‐cycles. A major role in our study of this problem is played by renewal processes without replacement, where one wishes to estimate the probability that in a uniform permutation of a given set of positive integers, the partial sums hit a designated target integer. Using sharp tail estimates for these renewal processes, which may be of independent interest, we settle the cycle factor problem completely: the “threshold” for a k ‐cycle factor in G as above is κ ₀ log₂ n with . To be precise, G contains a k ‐cycle factor w.h.p. if and w.h.p. does not contain one if . Thus, for most values of n the threshold concentrates on the single integer K ₀(n ). As a byproduct, we confirm the “comb conjecture,” an old problem concerning the embedding of certain spanning trees in the random graph (n,p ).© 2015 Wiley Periodicals, Inc.     

Portfolio theory for the recourse certainty equivalent maximizing investor

The portfolio selection problem with one safe andn risky assets is analyzed via a new decision theoretic criterion based on the Recourse Certainty Equivalent (RCE). Fundamental results in portfolio theory, previously studied under the Expected Utility criterion (EU), such as separation theorems, comparative static analysis, and threshold values for inclusion or exclusion of risky assets in the optimal portfolio, are obtained here. In contrast to the EU model, our results for the RCE maximizing investor do not impose restrictions on either the utility function or the underlying probability laws. We also derive a dual portfolio selection problem and provide it with a concrete economic interpretation.Research partly supported by ONR Contracts N0014-81-C-0236 and N00014-82-K-0295, and NSF Grant SES-8408134 with the Center for Cybernetic Studies, The University of Texas at Austin.Partly supported by NSF Grant DDM-8896112.Partly supported by AFOSR Grant 0218-88 and NSF Grant ECS-8802239 at the University of Maryland, Baltimore Campus.     

Sums and products along sparse graphs

In their seminal paper from 1983, Erdős and Szemerédi showed that any n distinct integers induce either n ^1+ɛ distinct sums of pairs or that many distinct products, and conjectured a lower bound of n ^2−o(1). They further proposed a generalization of this problem, in which the sums and products are taken along the edges of a given graph G on n labeled vertices. They conjectured a version of the sum-product theorem for general graphs that have at least n ^1+ɛ edges.     

Privileged users in zero-error transmission over a noisy channel

The k-th power of a graph G is the graph whose vertex set is V(G) ^k , where two distinct k-tuples are adjacent iff they are equal or adjacent in G in each coordinate. The Shannon capacity of G, c(G), is lim _k→∞ α(G ^k )^1/k , where α(G) denotes the independence number of G. When G is the characteristic graph of a channel C, c(G) measures the effective alphabet size of C in a zero-error protocol. A sum of channels, C = Σ _i C _i , describes a setting when there are t ≥ 2 senders, each with his own channel C _i , and each letter in a word can be selected from any of the channels. This corresponds to a disjoint union of the characteristic graphs, G = Σ _i G _i . It is well known that c(G) ≥ Σ _i c(G _i ), and in [1] it is shown that in fact c(G) can be larger than any fixed power of the above sum. We extend the ideas of [1] and show that for every F, a family of subsets of [t], it is possible to assign a channel C _i to each sender i ∈ [t], such that the capacity of a group of senders X ⊂ [t] is high iff X contains some F ∈ F. This corresponds to a case where only privileged subsets of senders are allowed to transmit in a high rate. For instance, as an analogue to secret sharing, it is possible to ensure that whenever at least k senders combine their channels, they obtain a high capacity, however every group of k − 1 senders has a low capacity (and yet is not totally denied of service). In the process, we obtain an explicit Ramsey construction of an edge-coloring of the complete graph on n vertices by t colors, where every induced subgraph on exp vertices contains all t colors. Research supported in part by a USA-Israeli BSF grant, by the Israel Science Foundation and by the Hermann Minkowski Minerva Center for Geometry at Tel Aviv University. Research partially supported by a Charles Clore Foundation Fellowship.     

On the number of rectangulations of a planar point set

We investigate the number of different ways in which a rectangle containing a set of n noncorectilinear points can be partitioned into smaller rectangles by n (nonintersecting) segments, such that every point lies on a segment. We show that when the relative order of the points forms a separable permutation, the number of rectangulations is exactly the (n+1)st Baxter number. We also show that no matter what the order of the points is, the number of guillotine rectangulations is always the nth Schröder number, and the total number of rectangulations is O(n²⁰/n⁴).     

On the maximum number of edges in quasi-planar graphs

A topological graph is quasi-planar, if it does not contain three pairwise crossing edges. Agarwal et al. [P.K. Agarwal, B. Aronov, J. Pach, R. Pollack, M. Sharir, Quasi-planar graphs have a linear number of edges, Combinatorica 17 (1) (1997) 1-9] proved that these graphs have a linear number of edges. We give a simple proof for this fact that yields the better upper bound of 8n edges for n vertices. Our best construction with 7n−O(1) edges comes very close to this bound. Moreover, we show matching upper and lower bounds for several relaxations and restrictions of this problem. In particular, we show that the maximum number of edges of a simple quasi-planar topological graph (i.e., every pair of edges have at most one point in common) is 6.5n−O(1), thereby exhibiting that non-simple quasi-planar graphs may have many more edges than simple ones.