Related papers: Welfare Maximization Entices Participation
We study the bilateral trade problem where a seller owns a single indivisible item, and a potential buyer seeks to purchase it. Previous mechanisms for this problem only considered the case where the values of the buyer and the seller are…
The maximum Nash social welfare (NSW) -- which maximizes the geometric mean of agents' utilities -- is a fundamental solution concept with remarkable fairness and efficiency guarantees. The computational aspects of NSW have been extensively…
The random self-reinforcement mechanism, characterized by the principle of ``the rich get richer'', has demonstrated significant utility across various domains. One prominent model embodying this mechanism is the random reinforcement urn…
This paper proposes an optimal policy that targets the average welfare of the worst-off $\alpha$-fraction of the post-treatment outcome distribution. We refer to this policy as the $\alpha$-Expected Welfare Maximization ($\alpha$-EWM) rule,…
Stochastic dominance is a crucial tool for the analysis of choice under risk. It is typically analyzed as a property of two gambles that are taken in isolation. We study how additional independent sources of risk (e.g. uninsurable labor…
This paper studies decision making for Walley's partially consonant belief functions (pcb). In a pcb, the set of foci are partitioned. Within each partition, the foci are nested. The pcb class includes probability functions and possibility…
Two main procedures characterize the way in which social actors evaluate the qualities of the options in decision-making processes: they either seek to evaluate their intrinsic qualities (individual learners), or they rely on the opinion of…
Selective rationalization has become a common mechanism to ensure that predictive models reveal how they use any available features. The selection may be soft or hard, and identifies a subset of input features relevant for prediction. The…
It is well known that no reasonable voting rule is strategyproof. Moreover, the common Plurality rule is particularly prone to strategic behavior of the voters and empirical studies show that people often vote strategically in practice.…
We study the power of item-pricing as a tool for approximately optimizing social welfare in a combinatorial market. We consider markets with $m$ indivisible items and $n$ buyers. The goal is to set prices to the items so that, when agents…
We propose a notion of fairness for allocation problems in which different agents may have different reservation utilities, stemming from different outside options, or property rights. Fairness is usually understood as the absence of envy,…
In collective decision making, where a voting rule is used to take a collective decision among a group of agents, manipulation by one or more agents is usually considered negative behavior to be avoided, or at least to be made…
Winners-take-all situations introduce an incentive for agents to diversify their behavior, since doing so will result in splitting an eventual price with fewer people. At the same time, when the payoff of a process depends on a parameter…
A limited participation economy models the real-world phenomenon that some economic agents have access to more of the financial market than others. We prove the global existence of a Radner equilibrium with limited participation, where the…
We consider a group of voters that needs to decide between two candidates. We propose a novel family of neutral and strategy-proof rules, which we call sequential unanimity rules. By demonstrating their formal equivalence to the M-winning…
Incentives are key to the success of crowdsourcing which heavily depends on the level of user participation. This paper designs an incentive mechanism to motivate a heterogeneous crowd of users to actively participate in crowdsourcing…
A new game-theoretic approach for combining multiple classifiers is proposed. A short introduction in Game Theory and coalitions illustrate the way any collective decision scheme can be viewed as a competitive game of coalitions that are…
It was recently shown in [http://arxiv.org/abs/1207.5518] that revenue optimization can be computationally efficiently reduced to welfare optimization in all multi-dimensional Bayesian auction problems with arbitrary (possibly…
In this paper, we introduce a Bayesian revenue-maximizing mechanism design model where the items have fixed, exogenously-given prices. Buyers are unit-demand and have an ordinal ranking over purchasing either one of these items at its given…
Agents vote to choose a fair mixture of public outcomes; each agent likes or dislikes each outcome. We discuss three outstanding voting rules. The Conditional Utilitarian rule, a variant of the random dictator, is Strategyproof and…