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We consider a financial market in which traders potentially face restrictions in trading some of the available securities. Traders are heterogeneous with respect to their beliefs and risk profiles, and the market is assumed thin: traders…

Economics · Quantitative Finance 2023-12-06 Michail Anthropelos , Constantinos Kardaras

In the context of fair division, the concept of price of fairness has been introduced to quantify the loss of welfare when we have to satisfy some fairness condition. In other words, it is the price we have to pay to guarantee fairness.…

Computer Science and Game Theory · Computer Science 2024-02-27 Karen Frilya Celine , Muhammad Ayaz Dzulfikar , Ivan Adrian Koswara

Human lives are increasingly being affected by the outcomes of automated decision-making systems and it is essential for the latter to be, not only accurate, but also fair. The literature of algorithmic fairness has grown considerably over…

Machine Learning · Computer Science 2022-11-15 Ainhize Barrainkua , Paula Gordaliza , Jose A. Lozano , Novi Quadrianto

With the growing adoption of machine learning (ML) systems in areas like law enforcement, criminal justice, finance, hiring, and admissions, it is increasingly critical to guarantee the fairness of decisions assisted by ML. In this paper,…

Machine Learning · Computer Science 2024-05-17 Meiyu Zhong , Ravi Tandon

We study critical systems that allocate scarce resources to satisfy basic needs, such as homeless services that provide housing. These systems often support communities disproportionately affected by systemic racial, gender, or other…

Computers and Society · Computer Science 2022-12-06 Nathanael Jo , Bill Tang , Kathryn Dullerud , Sina Aghaei , Eric Rice , Phebe Vayanos

We study a fair division problem with indivisible items, namely the computation of maximin share allocations. Given a set of $n$ players, the maximin share of a single player is the best she can guarantee to herself, if she would partition…

Computer Science and Game Theory · Computer Science 2016-05-16 Georgios Amanatidis , Georgios Birmpas , Evangelos Markakis

Motivated by the great success and adoption of Bitcoin, a number of cryptocurrencies such as Litecoin, Dogecoin, and Ethereum are becoming increasingly popular. Although existing blockchain-based cryptocurrency schemes can ensure reasonable…

Cryptography and Security · Computer Science 2016-12-02 Jian Liu , Wenting Li , Ghassan O. Karame , N. Asokan

Methods for building fair predictors often involve tradeoffs between fairness and accuracy and between different fairness criteria, but the nature of these tradeoffs varies. Recent work seeks to characterize these tradeoffs in specific…

Machine Learning · Statistics 2021-09-02 Alan Mishler , Edward Kennedy

The dynamics of financial markets are driven by the interactions between participants, as well as the trading mechanisms and regulatory frameworks that govern these interactions. Decision-makers would rather not ignore the impact of other…

Computational Finance · Quantitative Finance 2019-12-02 Mahmoud Mahfouz , Angelos Filos , Cyrine Chtourou , Joshua Lockhart , Samuel Assefa , Manuela Veloso , Danilo Mandic , Tucker Balch

As the real-world impact of Artificial Intelligence (AI) systems has been steadily growing, so too have these systems come under increasing scrutiny. In response, the study of AI fairness has rapidly developed into a rich field of research…

Computers and Society · Computer Science 2023-09-19 Maarten Buyl , Tijl De Bie

We study the computational complexity of fairly allocating indivisible, mixed-manna items. For basic measures of fairness, this problem is hard in general. Thus, research has flourished concerning input classes where efficient algorithms…

Data Structures and Algorithms · Computer Science 2024-09-09 Klaus Jansen , Alexandra Lassota , Malte Tutas , Adrian Vetta

In a financial market with a continuous price process and proportional transaction costs we investigate the problem of utility maximization of terminal wealth. We give sufficient conditions for the existence of a shadow price process,…

Portfolio Management · Quantitative Finance 2015-05-06 Christoph Czichowsky , Walter Schachermayer , Junjian Yang

The recently proposed Transaction Fee Mechanism (TFM) literature studies the strategic interaction between the miner of a block and the transaction creators (or users) in a blockchain. In a TFM, the miner includes transactions that maximize…

Computer Science and Game Theory · Computer Science 2024-02-08 Sankarshan Damle , Varul Srivastava , Sujit Gujar

The quantum speed limit sets the minimum time required to transfer a quantum system completely into a given target state. At shorter times the higher operation speed has to be paid with a loss of fidelity. Here we quantify the trade-off…

Quantum Physics · Physics 2015-12-08 Miroslav Gajdacz , Kunal K. Das , Jan Arlt , Jacob F. Sherson , Tomáš Opatrný

The idea of iterative process optimization based on collected output measurements, or "real-time optimization" (RTO), has gained much prominence in recent decades, with many RTO algorithms being proposed, researched, and developed. While…

Optimization and Control · Mathematics 2013-08-14 Gene A. Bunin , Grégory François , Dominique Bonvin

The problem of allocating indivisible resources to agents arises in a wide range of domains, including treatment distribution and social support programs. An important goal in algorithm design for this problem is fairness, where the focus…

Computer Science and Game Theory · Computer Science 2026-02-17 Niclas Boehmer , Luca Kreisel

In this paper, I summarize our work on online fair division. In particular, I present two models for online fair division: (1) one existing model for fair division in food banks and (2) one new model for fair division of deceased organs to…

Computer Science and Game Theory · Computer Science 2017-02-21 Martin Aleksandrov

A central decision maker (CDM), who seeks an efficient allocation of scarce resources among a finite number of players, often has to incorporate fairness criteria to avoid unfair outcomes. Indeed, the Price of Fairness (POF), a term coined…

Computer Science and Game Theory · Computer Science 2024-10-31 Yifeng Cao , Yichuan Ding , Daniel Granot

Fair machine learning works have been focusing on the development of equitable algorithms that address discrimination of certain groups. Yet, many of these fairness-aware approaches aim to obtain a unique solution to the problem, which…

Machine Learning · Computer Science 2021-12-14 Ana Valdivia , Javier Sánchez-Monedero , Jorge Casillas

Nowadays fairness issues have raised great concerns in decision-making systems. Various fairness notions have been proposed to measure the degree to which an algorithm is unfair. In practice, there frequently exist a certain set of…

Machine Learning · Computer Science 2021-07-20 Renzhe Xu , Peng Cui , Kun Kuang , Bo Li , Linjun Zhou , Zheyan Shen , Wei Cui