Related papers: Strict Comparisons of Infinite Utility Streams
Empirical evidence suggests that the rich have higher propensity to save than do the poor. While this observation may appear to contradict the homotheticity of preferences, we theoretically show that that is not the case. Specifically, we…
A notion of arithmetic similarity between number fields is defined by requiring equality of some arithmetic statistics over all but finitely many rational primes. The exceptional set is empty in all previously studied cases, but existing…
A major open question in fair allocation of indivisible items is whether there always exists an allocation of chores that is Pareto optimal (PO) and envy-free up to one item (EF1). We answer this question affirmatively for the natural class…
Fairness and privacy are two important concerns in social decision-making processes such as resource allocation. We study privacy in the fair allocation of indivisible resources using the well-established framework of differential privacy.…
The adoption of automated, data-driven decision making in an ever expanding range of applications has raised concerns about its potential unfairness towards certain social groups. In this context, a number of recent studies have focused on…
According to Blackwell's Theorem it is equivalent to compare channels by either a garbling order or optimal decision making. This equivalence does not hold anymore if also allowing pre-garbling, i. e. for the so-called Shannon-order (see…
We introduce a type and effect system, for an imperative object calculus, which infers "sharing" possibly introduced by the evaluation of an expression, represented as an equivalence relation among its free variables. This direct…
Utility representations of preference relations in symmetric topological spaces have the advantage of fully characterising these relations. But, this is not true in the case of representations of preference relations that are mostly…
Randomness (in the sense of being generated in an IID fashion) and exchangeability are standard assumptions in nonparametric statistics and machine learning, and relations between them have been a popular topic of research. This short paper…
We consider the problem of optimal risk sharing in a pool of cooperative agents. We analyze the asymptotic behavior of the certainty equivalents and risk premia associated with the Pareto optimal risk sharing contract as the pool expands.…
The random utility model, a cornerstone in economics, is axiomatized by Falmagne (1978) and McFadden and Richter (1990) with the assumption that if a menu is observable, the choice frequencies of all alternatives are also observable.…
Interval graphs and interval orders are deeply linked. In fact, edges of an interval graphs represent the incomparability relation of an interval order, and in general, of different interval orders. The question about the conditions under…
Social decision schemes (SDSs) map the ordinal preferences of individual voters over multiple alternatives to a probability distribution over the alternatives. In order to study the axiomatic properties of SDSs, we lift preferences over…
This work deals with the implementation of social choice rules using dominant strategies for unrestricted preferences. The seminal Gibbard-Satterthwaite theorem shows that only few unappealing social choice rules can be implemented unless…
An unsplittable multiflow routes the demand of each commodity along a single path from its source to its sink node. As our main result, we prove that in series-parallel digraphs, any given multiflow can be expressed as a convex combination…
Analyzing the consistency of preferences is an important step in decision making with pairwise comparison matrices, and several indices have been proposed in order to estimate it. In this paper we prove the proportionality between some…
In this paper, we tackle the problem of computing a sequence of rankings with the guarantee of the Pareto-optimal balance between (1) maximizing the utility of the consumers and (2) minimizing unfairness between producers of the items. Such…
In this article, we consider the optimal investment-consumption problem for an agent with preferences governed by Epstein--Zin stochastic differential utility (EZ-SDU) who invests in a constant-parameter Black-Scholes-Merton market over the…
We prove the following results for task allocation of indivisible resources: - The problem of finding a leximin-maximal resource allocation is in P if the agents have max-utility functions and atomic demands. - Deciding whether a resource…
We study portfolio selection in a complete continuous-time market where the preference is dictated by the rank-dependent utility. As such a model is inherently time inconsistent due to the underlying probability weighting, we study the…