Balancing Efficiency and Fairness in Resource Allocation (Xiaohui Bei)

Abstract

In this work, we study the resource allocation problem from the lens of welfare economics. We focus on two critical criteria: efficiency and fairness, and address the problem of allocating resources that account for the natural tension between efficiency and fairness. We consider a broad class of resource allocation problems, and quantitatively analyze the tradeoffs between efficiency and fairness by employing the approach of approximation. We show nearly optimal bicriteria approximation Pareto curves, which give an explicit answer to the question that if there exists an allocation that achieves (almost) any targeted efficiency and fairness. These results improve on the approximation curves provided by Bertsimas et al. and yield nearly complete characterization on the tradeoff inherent in efficiency and fairness.

Time

2016-12-21   10:00 ~ 10:45   

Speaker

Xiaohui Bei, Nanyang Technological University

Room

Room 102,School of Information Management & Engineering, Shanghai University of Finance & Economics