Related papers: Belief-Averaged Relative Utilitarianism
Recent work in iterative voting has defined the additive dynamic price of anarchy (ADPoA) as the difference in social welfare between the truthful and worst-case equilibrium profiles resulting from repeated strategic manipulations. While…
Random utility theory models an agent's preferences on alternatives by drawing a real-valued score on each alternative (typically independently) from a parameterized distribution, and then ranking the alternatives according to scores. A…
We provide an axiomatic characterization of lexicographic preferences over the set of all random availability functions using two assumptions. The first assumption is strong monotonicity, which in our framework is equivalent to the strong…
A natural notion of rationality/consistency for aggregating models is that, for all (possibly aggregated) models $A$ and $B$, if the output of model $A$ is $f(A)$ and if the output model $B$ is $f(B)$, then the output of the model obtained…
People care about decision outcomes and how decisions get made, both when making decisions and reflecting on decisions. But formalizing the full range of normative concerns that drive decisions is an open challenge. We introduce Axiomatic…
We study the evolution of public cooperation on two interdependent networks that are connected by means of a utility function, which determines to what extent payoffs in one network influence the success of players in the other network. We…
An implicit expectation of asking users to rate agents, such as an AI decision-aid, is that they will use only relevant information -- ask them about an agent's benevolence, and they should consider whether or not it was kind. Behavioral…
Participatory budgeting (PB) is a voting paradigm for distributing a divisible resource, usually called a budget, among a set of projects by aggregating the preferences of individuals over these projects. It is implemented quite extensively…
Assuming that agents' preferences satisfy first-order stochastic dominance, we show how the Expected Utility paradigm can rationalize all optimal investment choices: the optimal investment strategy in any behavioral law-invariant…
We consider the efficient outcome of a canonical economic market model involving buyers and sellers with independent and identically distributed random valuations and costs, respectively. When the number of buyers and sellers is large, we…
This paper examines optimal risk sharing for empirically realistic risk attitudes, providing results on Pareto optimality, competitive equilibria, utility frontiers, and the first and second theorems of welfare. Contrary to common…
Incomplete preferences provide the epistemic foundation for models of imprecise subjective probabilities and utilities that are used in robust Bayesian analysis and in theories of bounded rationality. This paper presents a simple…
We consider a voting model, where a number of candidates need to be selected subject to certain feasibility constraints. The model generalises committee elections (where there is a single constraint on the number of candidates that need to…
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…
In many real-world settings, a centralized decision-maker must repeatedly allocate finite resources to a population over multiple time steps. Individuals who receive a resource derive some stochastic utility; to characterize the…
In this paper, we consider the revealed preferences problem from a learning perspective. Every day, a price vector and a budget is drawn from an unknown distribution, and a rational agent buys his most preferred bundle according to some…
We introduce an axiomatic approach to group recommendations, in line of previous work on the axiomatic treatment of trust-based recommendation systems, ranking systems, and other foundational work on the axiomatic approach to internet…
We address an inherent difficulty in welfare-theoretic fair machine learning by proposing an equivalently axiomatically-justified alternative and studying the resulting computational and statistical learning questions. Welfare metrics…
The weak axiom of revealed preference (WARP) ensures that the revealed preference (i) is a preference relation (i.e., it is complete and transitive) and (ii) rationalizes the choices. However, when WARP fails, either one of these two…
Gambles are random variables that model possible changes in monetary wealth. Classic decision theory transforms money into utility through a utility function and defines the value of a gamble as the expectation value of utility changes.…