Related papers: Strict Comparisons of Infinite Utility Streams
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…
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…
The Random Utility Model (RUM) is the gold standard in describing the behavior of a population of consumers. The RUM operates under the assumption of transitivity in consumers' preference relationships, but the empirical literature has…
Spectrum sharing is one of the promising solutions to meet the spectrum demand in 5G networks that results from the emerging services like machine to machine and vehicle to infrastructure communication. The idea is to allow a set of…
We study sequential multi-issue trading between two greedily rational agents who exchange resources from a finite set of categories. Each agent's utility depends on its allocation, but the offering agent does not know the responding agent's…
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…
We study consumption dependence in the context of random utility and repeated choice. We show that, in the presence of consumption dependence, the random utility model is a misspecified model of repeated rational choice. This…
Selecting a set of alternatives based on the preferences of agents is an important problem in committee selection and beyond. Among the various criteria put forth for the desirability of a committee, Pareto optimality is a minimal and…
We consider the problem of aggregation of incomplete preferences represented by arbitrary binary relations or incomplete paired comparison matrices. For a number of indirect scoring procedures we examine whether or not they satisfy the…
Combinatorial preference aggregation has many applications in AI. Given the exponential nature of these preferences, compact representations are needed and ($m$)CP-nets are among the most studied ones. Sequential and global voting are two…
Fairness in clustering has been considered extensively in the past; however, the trade-off between the two objectives -- e.g., can we sacrifice just a little in the quality of the clustering to significantly increase fairness, or…
Actual individual preferences are neither complete (=total) nor antisymmetric in general, so that at least every quasi-order must be an admissible input to a satisfactory choice rule. It is argued that the traditional notion of…
We establish necessary and sufficient conditions for a network configuration to provide utilities that are both fair and efficient in a well-defined sense. To cover as many applications as possible with a unified framework, we consider…
We consider a model for decision making based on an adaptive, k-period, learning process where the priors are selected according to Von Neumann-Morgenstern expected utility principle. A preference relation between two prospects is…
We consider a Ramsey model with several households with heterogeneous preferences who are able to borrow capital to each other. Since the capital constraints of one household then depends on the others' capital, one can no longer optimize…
How should well-being be prioritised in society, and what trade-offs are people willing to make between fairness and personal well-being? We investigate these questions using a stated preference experiment with a nationally representative…
When allocating indivisible resources or tasks, an envy-free allocation or equitable allocation may not exist. We present a sufficient condition and an algorithm to achieve envy-freeness and equitability when monetary transfers are allowed.…
In previous work cite{Ha98:Towards} we presented a case-based approach to eliciting and reasoning with preferences. A key issue in this approach is the definition of similarity between user preferences. We introduced the probabilistic…
In random expected utility (Gul and Pesendorfer, 2006), the distribution of preferences is uniquely recoverable from random choice. This paper shows through two examples that such uniqueness fails in general if risk preferences are random…
We study preferences estimated from finite choice experiments and provide sufficient conditions for convergence to a unique underlying "true" preference. Our conditions are weak, and therefore valid in a wide range of economic environments.…