Bayesian Regression Markets

arXiv:2310.14992v2 Announce Type: replace
Abstract: Machine learning tasks are vulnerable to the quality of data used as input. Yet, it is often challenging for firms to obtain adequate datasets, with them being naturally distributed amongst owners, that in practice, may be competitors in a downstream market and reluctant to share information. Focusing on supervised learning for regression tasks, we develop a regression market to provide a monetary incentive for data sharing. Our proposed mechanism adopts a Bayesian framework, allowing us …

abstract arxiv bayesian competitors cs.lg data datasets distributed information machine machine learning market markets practice quality regression supervised learning tasks them type vulnerable