Related papers: Chaos and Misallocation under Price Controls
This paper studies the problem of optimally allocating treatments in the presence of spillover effects, using information from a (quasi-)experiment. I introduce a method that maximizes the sample analog of average social welfare when…
Extreme economic outcomes are not shaped by tails alone. They are also shaped by unequal access to opportunities. This paper develops a theory of heterogeneous extremes by taking the distribution of opportunity access as the object of…
We study economies where consumers interact independently with many monopolists. When consumer valuations over goods are correlated, correlation can distort the induced distribution of consumer surplus (information rents). We identify which…
This paper investigates the effect of network topology on the fair allocation of network resources among a set of agents, an all-important issue for the efficiency of transportation networks all around us. We analyse a generic mechanism…
We introduce and study a multi-class online resource allocation problem with group fairness guarantees. The problem involves allocating a fixed amount of resources to a sequence of agents, each belonging to a specific group. The primary…
Congestion is a common failure mode of markets, where consumers compete inefficiently on the same subset of goods (e.g., chasing the same small set of properties on a vacation rental platform). The typical economic story is that prices…
Price of anarchy, the performance ratio, which could characterize the loss of efficiency of the distributed supply chain management compared with the integrated supply chain management is discussed by utilizing newsvendor problem in single…
Pricing decisions are often made when market information is still poor. In turn, existing theoretical models often reason about the response of optimal prices to changing market characteristics without exploiting all available information…
Sequential allocation is a simple and attractive mechanism for the allocation of indivisible goods. Agents take turns, according to a policy, to pick items. Sequential allocation is guaranteed to return an allocation which is efficient but…
The $\alpha$-fair resource allocation problem has received remarkable attention and has been studied in numerous application fields. Several algorithms have been proposed in the context of $\alpha$-fair resource sharing to distributively…
Internet ad auctions have evolved from a few lines of text to richer informational layouts that include images, sitelinks, videos, etc. Ads in these new formats occupy varying amounts of space, and an advertiser can provide multiple…
We consider the weakly supervised binary classification problem where the labels are randomly flipped with probability $1- {\alpha}$. Although there exist numerous algorithms for this problem, it remains theoretically unexplored how the…
We propose a pseudo-market solution to resource allocation problems subject to constraints. Our treatment of constraints is general: including bihierarchical constraints due to considerations of diversity in school choice, or scheduling in…
In this work we compare social clusters with spin clusters and compare different properties. We also try to compare phase changes in market and labor stratification with phase changes of spin clusters. Then we compare the requisites for…
Measures of allocation optimality differ significantly when distributing standard tradable goods in peaceful times and scarce resources in crises. While realistic markets offer asymptotic efficiency, they may not necessarily guarantee fair…
The price of anarchy has become a standard measure of the efficiency of equilibria in games. Most of the literature in this area has focused on establishing worst-case bounds for specific classes of games, such as routing games or more…
We consider a market in which capacity-constrained generators compete in scalar-parameterized supply functions to serve an inelastic demand spread throughout a transmission constrained power network. The market clears according to a…
Consider a barter exchange problem over a finite set of agents, where each agent owns an item and is also associated with a (privately known) wish list of items belonging to the other agents. An outcome of the problem is a (re)allocation of…
As the global economy transitions toward decarbonization, the aluminium sector has become a focal point for strategic resource management. While policies such as the Carbon Border Adjustment Mechanism (CBAM) aim to reduce emissions, they…
Platform giants in China have operated with persistently compressed margins in highly concentrated markets for much of the past decade, despite market shares exceeding 60\% in core segments. Standard theory predicts otherwise: either the…