Related papers: Opportunity-Sensitive Social Welfare
We propose a stochastic map model of economic dynamics. In the last decade, an array of observations in economics has been investigated in the econophysics literature, a major example being the universal features of inequality in terms of…
We study budget aggregation under $\ell_1$-utilities, a model for collective decision making in which agents with heterogeneous preferences must allocate a public budget across a set of alternatives. Each agent reports their preferred…
Consider a causal structure with endogeneity (i.e., unobserved confoundedness) in empirical data, where an instrumental variable is available. In this setting, we show that the mean social welfare function can be identified and represented…
Information policies such as scores, ratings, and recommendations are increasingly shaping society's choices in high-stakes domains. We provide a framework to study the welfare implications of information policies on a population of…
This paper considers quantile-welfare evaluation of social welfare as an alternative to utilitarian evaluation. Manski (1988) originally proposed and studied maximization of quantile utility as a model of individual decision making under…
Many organizations depend on human decision-makers to make subjective decisions, especially in settings where information is scarce. Although workers are often viewed as interchangeable, the specific individual assigned to a task can…
We study the fair allocation of indivisible items to $n$ agents to maximize the utilitarian social welfare, where the fairness criterion is envy-free up to one item and there are only two different utility functions shared by the agents. We…
We study a problem where a group of agents has to decide how some fixed value should be shared among them. We are interested in settings where the share that each agent receives is based on how that agent is evaluated by other members of…
This paper examines normatively acceptable criteria for evaluating social states when individuals are responsible for their skills or productivity and these factors should be accounted for. We consider social choice rules over sets of…
This paper develops a robust and efficient method for policy learning from observational data in the presence of unobserved confounding, complementing existing instrumental variable (IV) based approaches. We employ the marginal sensitivity…
We propose a stochastic model of evolution of wealth in a society of economic agents. In the model, an agent can be in two states: inactive and active. Transitions between the states occur at random time intervals. In the active state, the…
We derive the most probable distribution of resources for a simple society. We find that a probabilistic analysis forbids both too much and too less equity, and selects instead a minimally ordered state. We give the detailed calculations…
This paper develops a nonparametric statistical model of wealth distribution that imposes little structure on the fluctuations of household wealth. In this setting, we use new techniques to obtain a closed-form household-by-household…
Subgroup analysis evaluates treatment effects across multiple sub-populations. When subgroups are defined by latent memberships inferred from imperfect measurements, the analysis typically involves two inter-connected models, a latent class…
In many prediction problems, the predictive model affects the distribution of the prediction target. This phenomenon is known as performativity and is often caused by the behavior of individuals with vested interests in the outcome of the…
In several socioeconomic-critical decision-making settings, such as fair resource allocation, climate policy, or AI alignment, multiple principals interact within a common arena. While it is well established that these principals may have…
Algorithmic fairness involves expressing notions such as equity, or reasonable treatment, as quantifiable measures that a machine learning algorithm can optimise. Most work in the literature to date has focused on classification problems…
The spatial distribution of income shapes the structure and organisation of cities and its understanding has broad societal implications. Despite an abundant literature, many issues remain unclear. In particular, all definitions of…
What fraction of the potential social surplus in an environment can be extracted by a revenue-maximizing monopolist? We investigate this problem in Bayesian single-parameter environments with independent private values. The precise answer…
Algorithmic systems are known to impact marginalized groups severely, and more so, if all sources of bias are not considered. While work in algorithmic fairness to-date has primarily focused on addressing discrimination due to individually…