Related papers: An Axiomatic Approach to Formalized Responsibility…

If uncertainty is modelled by a probability measure, decisions are typically made by choosing the option with the highest expected utility. If an imprecise probability model is used instead, this decision rule can be generalised in several…

We provide a formal framework accounting for a widespread idea in the theory of economic design: analytically established incompatibilities between given axioms should be qualified by the likelihood of their violation. We define the degree…

An essential task of groups is to provide efficient solutions for the complex problems they face. Indeed, considerable efforts have been devoted to the question of collective decision-making related to problems involving a single dominant…

A risk analyst assesses potential financial losses based on multiple sources of information. Often, the assessment does not only depend on the specification of the loss random variable but also various economic scenarios. Motivated by this…

In this paper, we deal with an axiomatic approach to default risk. We introduce the notion of a default risk measure, which generalizes the classical probability of default (PD), and allows to incorporate model risk in various forms. We…

This paper studies prototypical strategies to sequentially aggregate independent decisions. We consider a collection of agents, each performing binary hypothesis testing and each obtaining a decision over time. We assume the agents are…

We study an axiomatic framework for anonymized risk sharing. In contrast to traditional risk sharing settings, our framework requires no information on preferences, identities, private operations and realized losses from the individual…

Ranking entities such as algorithms, devices, methods, or models based on their performances, while accounting for application-specific preferences, is a challenge. To address this challenge, we establish the foundations of a universal…

In this work, we propose an axiomatic approach for measuring the performance/welfare of a system consisting of concurrent agents in a resource-driven system. Our approach provides a unifying view on popular system optimality principles,…

This paper develops an axiomatic framework for ranking metrics, a general class of functionals for evaluating and ordering financial or insurance positions. Unlike traditional risk-adjusted performance measures-such as the Sharpe ratio,…

In cooperative human decision-making, agreements are often not total; a partial degree of agreement is sufficient to commit to a decision and move on, as long as one is somewhat confident that the involved parties are likely to stand by…

The paper provides a framework for the assessment and optimization of the total risk of complex distributed systems. The framework takes into account the risk of each agent, which may arise from heterogeneous sources, as well as the risk…

Tackling complex team problems requires understanding each team member's skills in order to devise a task assignment maximizing the team performance. This paper proposes a novel quantitative model describing the decentralized process by…

Over the past decades, the competition for academic resources has gradually intensified, and worsened with the current financial crisis. To optimize the resource allocation, individualized assessment of research results is being actively…

In formal argumentation, a distinction can be made between extension-based semantics, where sets of arguments are either (jointly) accepted or not, and ranking-based semantics, where grades of acceptability are assigned to arguments.…

Trust and reputation models for distributed, collaborative systems have been studied and applied in several domains, in order to stimulate cooperation while preventing selfish and malicious behaviors. Nonetheless, such models have received…

This study addresses the reliability of automatic summarization in high-risk scenarios and proposes a large language model framework that integrates uncertainty quantification and risk-aware mechanisms. Starting from the demands of…

Human behavior in interactive settings is shaped not only by individual objectives but also by shared constraints with others, such as safety. Understanding how people allocate responsibility, i.e., how much one deviates from their desired…

We provide a constructive way of defining new elicitable risk measures that are characterised by a multiplicative scoring function. We show that depending on the choice of the scoring function's components, the resulting risk measure…

Abstractive summarization models are commonly trained using maximum likelihood estimation, which assumes a deterministic (one-point) target distribution in which an ideal model will assign all the probability mass to the reference summary.…