Related papers: Opportunity-Sensitive Social Welfare
Improving social welfare is a complex challenge requiring policymakers to optimize objectives across multiple time horizons. Evaluating the impact of such policies presents a fundamental challenge, as those that appear suboptimal in the…
We study the welfare structure in two-sided large random matching markets. In the model, each agent has a latent personal score for every agent on the other side of the market and her preferences follow a logit model based on these scores.…
We study welfare analysis for policy changes when supply and demand behavior are only partially known. We augment the robust approach pioneered by Kang and Vasserman (2025) by incorporating the supply side. We posit intervals of feasible…
We consider social welfare functions when the preferences of individual agents and society maximize subjective expected utility in the tradition of Savage. A system of axioms is introduced whose unique solution is the social welfare…
Most existing notions of algorithmic fairness are one-shot: they ensure some form of allocative equality at the time of decision making, but do not account for the adverse impact of the algorithmic decisions today on the long-term welfare…
Researchers do not know what the framers of the United States Constitution intended when they wrote of the general Welfare. Nevertheless, economists can conjecture by specifying social welfare functions that aim to express the preferences…
This paper proposes an optimal policy that targets the average welfare of the worst-off $\alpha$-fraction of the post-treatment outcome distribution. We refer to this policy as the $\alpha$-Expected Welfare Maximization ($\alpha$-EWM) rule,…
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…
We consider social resource allocations that deliver an array of scarce supports to a diverse population. Such allocations pervade social service delivery, such as provision of homeless services, assignment of refugees to cities, among…
This paper attempts to find a relationship between agents' risk aversion and inequality of incomes. Specifically, a model is proposed for the evolution in time of surplus/deficit distribution, and the long-time distributions are…
We introduce a minimal agent-based model to qualitatively conceptualize the allocation of limited wealth among more abundant opportunities. We study the interplay of power, satisfaction and frustration in distribution, concentration, and…
Different models to study the wealth distribution in an artificial society have considered a transactional dynamics as the driving force. Those models include a risk aversion factor, but also a finite probability of favoring the poorer…
The broad concept of an individual's welfare is actually a cluster of related specific concepts that bear a "family resemblance" to one another. One might care about how a policy will affect people both in terms of their subjective…
Two main procedures characterize the way in which social actors evaluate the qualities of the options in decision-making processes: they either seek to evaluate their intrinsic qualities (individual learners), or they rely on the opinion of…
The sustainability of cooperation is crucial for understanding the progress of societies. We study a repeated game in which individuals decide the share of their income to transfer to other group members. A central feature of our model is…
In prediction-based decision-making systems, different perspectives can be at odds: The short-term business goals of the decision makers are often in conflict with the decision subjects' wish to be treated fairly. Balancing these two…
Probabilistic classifiers output a probability distribution on target classes rather than just a class prediction. Besides providing a clear separation of prediction and decision making, the main advantage of probabilistic models is their…
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…
We introduced a decision-making model based on value functions that included individualistic utility function and socio-constructivistic norm function and proposed a norm-fostering process that recursively updates norm function through…
We consider a setting where agents take action by following their role models in a social network, and study strategies for a social planner to help agents by revealing whether the role models are positive or negative. Specifically, agents…