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This paper considers the problem of randomly assigning a set of objects to a set of agents based on the ordinal preferences of agents. We generalize the well-known immediate acceptance algorithm to the afore-mentioned random environments and define the probabilistic rank rule (PR rule). We introduce two new axioms: sd-rank-fairness, and equal-rank envy-freeness. Sd-rank-fairness implies sd-efficiency. Equal-rank envy-freeness implies equal treatment of equals. Sd-rank-fairness and equal-rank envy-freeness are enough to characterize the PR rule.
Building upon work by Matsumoto, we show that the quantum relative entropy with full-rank second argument is determined by four simple axioms: i) Continuity in the first argument, ii) the validity of the data-processing inequality, iii) additivity un
A collective choice problem is a finite set of social alternatives and a finite set of economic agents with vNM utility functions. We associate a public goods economy with each collective choice problem and establish the existence and efficiency of (
We prove that a random choice rule satisfies Luces Choice Axiom if and only if its support is a choice correspondence that satisfies the Weak Axiom of Revealed Preference, thus it consists of alternatives that are optimal according to some preference
It is a long-standing objective to ease the computation burden incurred by the decision making process. Identification of this mechanisms sensitivity to simplification has tremendous ramifications. Yet, algorithms for decision making under uncertaint
The Probabilistic Serial mechanism is well-known for its desirable fairness and efficiency properties. It is one of the most prominent protocols for the random assignment problem. However, Probabilistic Serial is not incentive-compatible, thereby the