Related papers: Gatekeeping, Selection, and Welfare
We present a recommender system based on the Random Utility Model. Online shoppers are modeled as rational decision makers with limited information, and the recommendation task is formulated as the problem of optimally enriching the…
Information foraging connects optimal foraging theory in ecology with how humans search for information. The theory suggests that, following an information scent, the information seeker must optimize the tradeoff between exploration by…
Driven by the new economic opportunities created by the creator economy, an increasing number of content creators rely on and compete for revenue generated from online content recommendation platforms. This burgeoning competition reshapes…
Recent progress towards theoretical interpretability guarantees for AI has been made with classifiers that are based on interactive proof systems. A prover selects a certificate from the datapoint and sends it to a verifier who decides the…
There are clear benefits associated with a particular consumer choice for many current markets. For example, as we consider here, some products might carry environmental or `green' benefits. Some consumers might value these benefits while…
Consequential decision-making incentivizes individuals to strategically adapt their behavior to the specifics of the decision rule. While a long line of work has viewed strategic adaptation as gaming and attempted to mitigate its effects,…
We consider the problem of dividing items between individuals in a way that is fair both in the sense of distributional fairness and in the sense of not having disparate impact across protected classes. An important existing mechanism for…
Cost-effectiveness analyses (CEAs) are at the center of health economic decision making. While these analyses help policy analysts and economists determine coverage, inform policy, and guide resource allocation, they are statistically…
We study the allocation of divisible goods to competing agents via a market mechanism, focusing on agents with Leontief utilities. The majority of the economics and mechanism design literature has focused on \emph{linear} prices, meaning…
Most analyses of manipulation of voting schemes have adopted two assumptions that greatly diminish their practical import. First, it is usually assumed that the manipulators have full knowledge of the votes of the nonmanipulating agents.…
We draw attention to an important, yet largely overlooked aspect of evaluating fairness for automated decision making systems---namely risk and welfare considerations. Our proposed family of measures corresponds to the long-established…
The implementation of a supervision and incentive process for identical workers may lead to wage variance that stems from employer and employee optimization. The harder it is to assess the nature of the labor output, the more important such…
This paper delves into financial markets that incorporate a novel form of heterogeneity among investors, specifically in terms of their beliefs regarding the reliability of signals in the business cycle economy model, which may be biased.…
An agent choosing between various actions tends to take the one with the lowest cost. But this choice is arguably too rigid (not adaptive) to be useful in complex situations, e.g., where exploration-exploitation trade-off is relevant in…
A welfare-maximizing designer allocates two kinds of goods using two wasteful screening instruments: ordeals, which enter agents' utilities additively, and damages, which harm agents in proportion to their values for the goods. If agents…
Complex adaptive systems have been the subject of much recent attention. It is by now well-established that members (`agents') tend to self-segregate into opposing groups characterized by extreme behavior. However, while different social…
The notion of expense in Bayesian optimisation generally refers to the uniformly expensive cost of function evaluations over the whole search space. However, in some scenarios, the cost of evaluation for black-box objective functions is…
Portfolio underdiversification is one of the most costly losses accumulated over a household's life cycle. We provide new evidence on the impact of financial inclusion services on households' portfolio choice and investment efficiency using…
The rise of algorithmic decision making led to active researches on how to define and guarantee fairness, mostly focusing on one-shot decision making. In several important applications such as hiring, however, decisions are made in multiple…
Single minded agents have strict preferences, in which a bundle is acceptable only if it meets a certain demand. Such preferences arise naturally in scenarios such as allocating computational resources among users, where the goal is to…