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Kai Hao Yang

Kai Hao Yang

Assistant Professor of Economics

Using the tools of mechanism design and information design, Prof. Yang’s recent works center around the economic impact of novel information technologies, including privacy, algorithmic fairness, price discrimination, the sale of consumer data, online platforms. He also studies topics in political economy and finance, including gerrymandering and security design.

Prof. Yang received a B.A. in Political Science from National Taiwan University (2012), an M.A. and a Ph.D in Economics from the University of Chicago (2020).

Prior to joining Yale School of Management, Prof. Yang was a postdoctoral associate at the Cowles Foundation for Research in Economics (2020-2021).

Education

  • PhD, The University of Chicago
  • BA, National Taiwan University, 2012

Articles

Working Papers

Explaining Models

Summary

We consider the problem of explaining models to a decision maker (DM) whose
payoff depends on a state of the world described by inputs and outputs. A true model
specifies the relationship between these inputs and outputs, but is not intelligible to
the DM. Instead, the true model must be explained via a finite-dimensional intelligible
model. If the DM maximizes their average payoff, then an explanation using ordinary
least squares is nearly as good as understanding the true model itself. However, if
the DM maximizes their worst-case payoff, then any explanation is no better than no
explanation at all.