Related papers: Optimal Group Size in Microlending
Settings such as lending and policing can be modeled by a centralized agent allocating a resource (loans or police officers) amongst several groups, in order to maximize some objective (loans given that are repaid or criminals that are…
Machine Learning (ML) algorithms shape our lives. Banks use them to determine if we are good borrowers; IT companies delegate them recruitment decisions; police apply ML for crime-prediction, and judges base their verdicts on ML. However,…
Banks are important for the development of economies in any financial ecosystem through consumer and business loans. Lending, however, presents risks; thus, banks have to determine the applicant's financial position to reduce the…
Thomas C. Schelling, awarded the 2005 Nobel Memorial Prize in Economic Sciences, pointed out that ``individuals decisions (micromotives), while often personal and localized, can lead to societal outcomes (macrobehavior) that are far more…
We address the problem of correcting group discriminations within a score function, while minimizing the individual error. Each group is described by a probability density function on the set of profiles. We first solve the problem…
Most of previous studies concerning the Public Goods Game assume either participation is unconditional or the number of actual participants in a competitive group changes over time. How the fixed group size, prescribed by social…
How can minorities of individuals overturn social conventions? The theory of critical mass states that when a committed minority reaches a critical size, a cascade of behavioural changes can occur, overturning apparently stable social…
Public and private institutions must often allocate scare resources under uncertainty. Banks, for example, extend credit to loan applicants based in part on their estimated likelihood of repaying a loan. But when the quality of information…
Disparities in lending to minority applicants persist even as algorithmic lending finds widespread adoption. We study the role of risk-management constraints, specifically Value-at-Risk ($\VaR$) and Expected Shortfall (ES), in inducing…
We report the results of a game-theoretic experiment with human players who solve the problems of increasing complexity by cooperating in groups of increasing size. Our experimental environment is set up to make it complicated for players…
We consider a dynamic collective choice problem where a large number of players are cooperatively choosing between multiple destinations while being influenced by the behavior of the group. For example, in a robotic swarm exploring a new…
We study the approximability of the maximum size independent set (MIS) problem in bounded degree graphs. This is one of the most classic and widely studied NP-hard optimization problems. We focus on the well known minimum degree greedy…
In this work we formulate and formally characterize group fairness as a multi-objective optimization problem, where each sensitive group risk is a separate objective. We propose a fairness criterion where a classifier achieves minimax risk…
Online lending, a phenomenon which is becoming mainstream due to the migration of consumer finance to the Internet and the adoption of AI based lending models, is an example of learning by doing. This paper studies optimal policies for a…
In the group testing problem the aim is to identify a small set of $k\sim n^\theta$ infected individuals out of a population size $n$, $0<\theta<1$. We avail ourselves of a test procedure capable of testing groups of individuals, with the…
Recent studies on indirect reciprocity with private assessment on complete graphs suggest the possibility that one can continuously modulate the degree of segregation by controlling how to judge a good person helping a bad one. A well-known…
One key problem in network analysis is the so-called influence maximization problem, which consists in finding a set $S$ of at most $k$ seed users, in a social network, maximizing the spread of information from $S$. This paper studies a…
We analyze how interdependencies between organizations in financial networks can lead to multiple possible equilibrium outcomes. A multiplicity arises if and only if there exists a certain type of dependency cycle in the network that allows…
We argue that an imperfect criminal law procedure cannot be group-fair, if 'group fairness' involves ensuring the same chances of acquittal or convictions to all innocent defendants independently of their morally arbitrary features. We show…
In many settings people must give numerical scores to entities from a small discrete set. For instance, rating physical attractiveness from 1--5 on dating sites, or papers from 1--10 for conference reviewing. We study the problem of…