Related papers: Justifications of Welfare Guarantees under Normali…
Empirical Welfare Maximization (EWM) is a framework that can be used to select welfare program eligibility policies based on data. This paper extends EWM by allowing for uncertainty in estimating the budget needed to implement the selected…
Fairness in machine learning is of considerable interest in recent years owing to the propensity of algorithms trained on historical data to amplify and perpetuate historical biases. In this paper, we argue for a formal reconstruction of…
In this paper, we propose standard statistical tools as a solution to commonly highlighted problems in the explainability literature. Indeed, leveraging statistical estimators allows for a proper definition of explanations, enabling…
Recent literature in the last Maximum Entropy workshop introduced an analogy between cumulative probability distributions and normalized utility functions. Based on this analogy, a utility density function can de defined as the derivative…
We introduce a new interpretation of two related notions - conditional utility and utility independence. Unlike the traditional interpretation, the new interpretation renders the notions the direct analogues of their probabilistic…
The Random Utility Model (RUM) is the leading model to represent the aggregate choices of a heterogeneous population of preference maximizers. We show that if (and only if) preferences are sufficiently uncorrelated, RUM choices can also be…
Machine learning algorithms for prediction are increasingly being used in critical decisions affecting human lives. Various fairness formalizations, with no firm consensus yet, are employed to prevent such algorithms from systematically…
We study large markets with a single seller which can produce many types of goods, and many multi-minded buyers. The seller chooses posted prices for its many items, and the buyers purchase bundles to maximize their utility. For this…
How should we think of the preferences of citizens? Whereas self-optimal policy is relatively straightforward to produce, socially optimal policy often requires a more detailed examination. In this paper, we identify an issue that has…
This survey reviews recent developments in revealed preference theory. It discusses the testable implications of theories of choice that are germane to specific economic environments. The focus is on expected utility in risky environments;…
In several socioeconomic-critical decision-making settings, such as fair resource allocation, climate policy, or AI alignment, multiple principals interact within a common arena. While it is well established that these principals may have…
This paper introduces a rule for policy selection in the presence of estimation uncertainty, explicitly accounting for estimation risk. The rule belongs to the class of risk-aware rules on the efficient decision frontier, characterized as…
Analyses of voting algorithms often overlook informational externalities shaping individual votes. For example, pre-polling information often skews voters towards candidates who may not be their top choice, but who they believe would be a…
The features of a logically sound approach to a theory of statistical reasoning are discussed. A particular approach that satisfies these criteria is reviewed. This is seen to involve selection of a model, model checking, elicitation of a…
Normalization is ubiquitous in economics, and a growing literature shows that ``normalizations'' can matter for interpretation, counterfactual analysis, misspecification, and inference. This paper provides a general framework for these…
We present a new approach to the global fairness verification of tree-based classifiers. Given a tree-based classifier and a set of sensitive features potentially leading to discrimination, our analysis synthesizes sufficient conditions for…
Instead of testing for unanimous agreement, I propose learning how broad of a consensus favors one distribution over another (of earnings, productivity, asset returns, test scores, etc.). Specifically, given a sample from each of two…
How to distribute welfare in a society is a key issue in the subject of distributional justice, which is deeply involved with notions of fairness. Following a thought experiment by Dworkin, this work considers a society of individuals with…
The problem of pricing the cloud has attracted much recent attention due to the widespread use of cloud computing and cloud services. From a theoretical perspective, several mechanisms that provide strong efficiency or fairness guarantees…
The classic house allocation problem is primarily concerned with finding a matching between a set of agents and a set of houses that guarantees some notion of economic efficiency (e.g. utilitarian welfare). While recent works have shifted…