It is generally assumed that you can make a financial asset out of any underlying event or combination thereof, and then sell a security. We show that while this is theoretically true from the financial engineering perspective, compound securities might be intractable to price. Even given no information asymmetries, or ... more >>>

We introduce and study a new model of interactive proofs: AM(k), or Arthur-Merlin with k non-communicating Merlins. Unlike with the better-known MIP, here the assumption is that each Merlin receives an independent random challenge from Arthur. One motivation for this model (which we explore in detail) comes from the close ... more >>>

We introduce a new concept, which we call partition expanders. The basic idea is to study quantitative properties of graphs in a slightly different way than it is in the standard definition of expanders. While in the definition of expanders it is required that the number of edges between any ... more >>>