Related papers: Rationalizability, Cost-Rationalizability, and Afr…
For nearly any challenging scientific problem evaluation of the likelihood is problematic if not impossible. Approximate Bayesian computation (ABC) allows us to employ the whole Bayesian formalism to problems where we can use simulations…
We study a dynamic generalization of stochastic rationality in consumer behavior, the Dynamic Random Utility Model (DRUM). Under DRUM, a consumer draws a utility function from a stochastic utility process and maximizes this utility subject…
We propose to study market efficiency from a computational viewpoint. Borrowing from theoretical computer science, we define a market to be \emph{efficient with respect to resources $S$} (e.g., time, memory) if no strategy using resources…
We provide sufficient conditions under which a utility function may be recovered from a finite choice experiment. Identification, as is commonly understood in decision theory, is not enough. We provide a general recoverability result that…
As recommendation is essentially a comparative (or ranking) process, a good explanation should illustrate to users why an item is believed to be better than another, i.e., comparative explanations about the recommended items. Ideally, after…
Perfectly rational decision-makers maximize expected utility, but crucially ignore the resource costs incurred when determining optimal actions. Here we employ an axiomatic framework for bounded rational decision-making based on a…
The rationalizability concept was introduced in \cite{Ber84} and \cite{Pea84} to assess what can be inferred by rational players in a non-cooperative game in the presence of common knowledge. However, this notion can be defined in a number…
We study the fair allocation of indivisible resources among agents. Most prior work focuses on fairness and/or efficiency among agents. However, the allocator, as the resource owner, may also be involved in many scenarios (e.g., government…
In the standard model of fair allocation of resources to agents, every agent has some utility for every resource, and the goal is to assign resources to agents so that the agents' welfare is maximized. Motivated by job scheduling, interest…
In financial markets valuable information is rarely circulated homogeneously, because of time required for information to spread. However, advances in communication technology means that the 'lifetime' of important information is typically…
Within the field of Requirements Engineering (RE), the increasing significance of Explainable Artificial Intelligence (XAI) in aligning AI-supported systems with user needs, societal expectations, and regulatory standards has garnered…
In this work, we revisit the problem of fairly allocating a number of indivisible items that are located on a line to multiple agents. A feasible allocation requires that the allocated items to each agent are connected on the line. The…
When users access shared resources in a selfish manner, the resulting societal cost and perceived users' cost is often higher than what would result from a centrally coordinated optimal allocation. While several contributions in mechanism…
The growing demand for compute-intensive applications has made multi-chiplet architectures a promising alternative to monolithic designs, offering improved scalability and manufacturing flexibility. However, effectively managing the…
This article demonstrates how a large number of efficiency measures known in the literature in production economics can be interpreted through the notion of utility function, based on the concept of Stone-Geary utility. Several…
We study the efficiency of mechanisms for allocating a divisible resource. Given scalar signals submitted by all users, such a mechanism decides the fraction of the resource that each user will receive and a payment that will be collected…
We introduce a mathematical theory called market connectivity that gives concrete ways to both measure the efficiency of markets and find inefficiencies in large markets. The theory leads to new methods for testing the famous efficient…
The purpose of this paper relies on the study of long term affine yield curves modeling. It is inspired by the Ramsey rule of the economic literature, that links discount rate and marginal utility of aggregate optimal consumption. For such…
Rationality is often related to optimal decision making. Humans are known to be bounded rational agents. However, recent advances in computing, and other scientific and technical fields along with large amount of data have led to a feeling…
We consider the problem of dispatching a fleet of heterogeneous energy storage units to provide grid support. Under the restriction that recharging is not possible during the time frame of interest, we develop an aggregate measure of fleet…