Related papers: Impartial utilitarianism on infinite utility strea…
A fundamental component of the game theoretic approach to distributed control is the design of local utility functions.Relative to resource allocation problems that are additive over the resources, Part I showed how to design local…
Subjective expected utility theory assumes that decision-makers possess unlimited computational resources to reason about their choices; however, virtually all decisions in everyday life are made under resource constraints - i.e.…
We take an axiomatic approach to the allocation of riparian water rights. We formalize ethical or structural properties as axioms of allocation rules. We show that several combinations of these axioms characterize focal rules implementing…
A utility function has been proposed that values more those lives that are saved by not imposing a harmful treatment and values less those lives that could be saved by treating people who would otherwise die. I do not dispute the ethical…
This paper considers exponential utility indifference pricing for a multidimensional non-traded assets model, and provides two linear approximations for the utility indifference price. The key tool is a probabilistic representation for the…
Probabilistic independence can dramatically simplify the task of eliciting, representing, and computing with probabilities in large domains. A key technique in achieving these benefits is the idea of graphical modeling. We survey existing…
We study the problem of aggregating distributions, such as budget proposals, into a collective distribution. An ideal aggregation mechanism would be Pareto efficient, strategyproof, and fair. Most previous work assumes that agents evaluate…
Is the overall value of a world just the sum of values contributed by each value-bearing entity in that world? Additively separable axiologies (like total utilitarianism, prioritarianism, and critical level views) say 'yes', but…
This paper elaborates about the potential risk of systemic instabilities in future networks and proposes a methodology to mitigate it. The starting concept is modeling the network as a complex environment (e.g. ecosystem) of resources and…
Fairness in algorithmic decision-making is often defined in the predictive space, where predictive performance - used as a proxy for decision-maker (DM) utility - is traded off against prediction-based fairness notions, such as demographic…
We study the problem of extracting a small subset of representative items from a large data stream. In many data mining and machine learning applications such as social network analysis and recommender systems, this problem can be…
We consider resource sharing networks of the form introduced in the work of Massouli\'{e} and Roberts(2000) as models for Internet flows. The goal is to study the open problem, formulated in Harrison et al. (2014), of constructing simple…
In this paper, a mixed integer linear formulation for problems considering time-of-use-type constraints for uninterruptible services is presented. Our work is motivated by demand response problems in power systems, in which certain devices…
Designing efficient and fair algorithms for sharing multiple resources between heterogeneous demands is becoming increasingly important. Applications include compute clusters shared by multi-task jobs and routers equipped with middleboxes…
This paper assumes each individual in society has a random discount factor and assesses an intertemporal project using rank-dependent expected utility theory. We consider both the ex ante and the ex post approaches. For the former, we show…
Many sequential decision making problems can be formulated as an adaptive submodular maximization problem. However, most of existing studies in this field focus on pool-based setting, where one can pick items in any order, and there have…
This paper introduces a novel contextual bandit algorithm for personalized pricing under utility fairness constraints in scenarios with uncertain demand, achieving an optimal regret upper bound. Our approach, which incorporates dynamic…
We study the dynamical evolution toward steady state of the stochastic non-equilibrium model known as totally asymmetric simple exclusion process, in both uniform and non-uniform (staggered) one-dimensional systems with open boundaries.…
This paper studies a robust utility maximization problem for intractable claims under distributional ambiguity, where the distribution of the claim cannot be inferred from market information and its dependence with tradable assets is…
This work considers reasons for and implications of discarding the assumption of transitivity, which (transitivity) is the fundamental postulate in the utility theory of Von Neumann and Morgenstern, the adiabatic accessibility principle of…