Related papers: Maximal Social Welfare Relations on Infinite Popul…
We characterize Pareto optimality via "near" weighted utilitarian welfare maximization. One characterization sequentially maximizes utilitarian welfare functions using a finite sequence of nonnegative and eventually positive welfare…
We study the nature (i.e., constructive as opposed to non-constructive) of social welfare orders on infinite utility streams, and their representability by means of real-valued functions. We assume finite anonymity and introduce a new…
This paper examines the representation and explicit description of social welfare orders on infinite utility streams. It is assumed that the social welfare orders under investigation satisfy upper asymptotic Pareto and anonymity axioms. We…
Total social welfare relations satisfying Pareto and equity principles on infinite utility streams has revealed a non-constructive nature. In this paper we study more deeply the needed fragment of AC. In particular, we show that such…
We study the problem of approximate social welfare maximization (without money) in one-sided matching problems when agents have unrestricted cardinal preferences over a finite set of items. Random priority is a very well-known…
We propose generalized versions of strong equity and Pigou-Dalton transfer principle. We study the existence and the real valued representation of social welfare relations satisfying these two generalized equity principles. Our results…
Motivated by the impact of emerging technologies on toll parks, this paper studies a problem of equilibrium, social welfare, and revenue for an infinite-server queue. More specifically, we assume that a customer's utility consists of a…
Welfare economics relies on access to agents' utility functions: we revisit classical questions in welfare economics, assuming access to data on agents' past choices instead of their utilities. Our main result considers the existence of…
We study the power of item-pricing as a tool for approximately optimizing social welfare in a combinatorial market. We consider markets with $m$ indivisible items and $n$ buyers. The goal is to set prices to the items so that, when agents…
We propose a new model for aggregating preferences over a set of indivisible items based on a quantile value. In this model, each agent is endowed with a specific quantile, and the value of a given bundle is defined by the corresponding…
We consider social welfare functions that satisfy Arrow's classic axioms of independence of irrelevant alternatives and Pareto optimality when the outcome space is the convex hull of some finite set of alternatives. Individual and…
This study proposes a new efficiency requirement, a minimal almost weak Pareto principle, which says that x is socially better than y whenever the only one individual never prefers y to x, and all the others prefers x to y. Then, I show…
The maximum Nash social welfare (NSW) -- which maximizes the geometric mean of agents' utilities -- is a fundamental solution concept with remarkable fairness and efficiency guarantees. The computational aspects of NSW have been extensively…
We consider dominant strategy implementation in private values settings, when agents have multi-dimensional types, the set of alternatives is finite, monetary transfers are allowed, and agents have quasi-linear utilities. We show that any…
We introduce a novel framework for individual-level welfare analysis. It builds on a parametric model for continuous demand with a quasilinear utility function, allowing for heterogeneous coefficients and unobserved individual-good-level…
Statistical parity metrics have been widely studied and endorsed in the AI community as a means of achieving fairness, but they suffer from at least two weaknesses. They disregard the actual welfare consequences of decisions and may…
We consider the problem of allocating multiple indivisible items to a set of networked agents to maximize the social welfare subject to network externalities. Here, the social welfare is given by the sum of agents' utilities and…
We study the allocation of indivisible items that form an undirected graph and investigate the worst-case welfare loss when requiring that each agent must receive a connected subgraph. Our focus is on both egalitarian and utilitarian…
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…
What fraction of the potential social surplus in an environment can be extracted by a revenue-maximizing monopolist? We investigate this problem in Bayesian single-parameter environments with independent private values. The precise answer…