ELC Seminar (C01)

Date: March 4th
Time: 15:00-16:00
Place: CELC Seminar room

Title: Balancing Efficiency and Fairness in Resource Allocation
Speaker: XiaoHui Bei (Max Plank Institute)

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. Our results
improve on the approximation curves provided by Bertsimas et al.
and yield nearly complete characterization on the tradeoff inherent
in efficiency and fairness.

This is a joint work with Ning Chen and Hongyang Zhang.

(Host: Osamu Watanabe and Navid Tablefard)