Seminar: Resource Allocation with Fairness Constraints
by Nikolaos Argyris, School of Business and Economics, Loughborough University
Wednesday, June 21, 13:40
EA-Z01
Abstract:
We consider the problem of a central planner choosing among different distributions of resources across different parties. We take an axiomatic approach: we construct an “equitable preference ordering” based on which combines structural assumptions relating to efficiency and inequality-aversion with explicit preference data from a survey, past policies, or the planner’s paternalistic views. We show that the set of all such functions that rationalise the preference ordering has a succinct polyhedral characterisation. This can be used to compute the subset of equitably-efficient distributions. We show how these results can be used to introduce fairness constraints in optimisation formulations of resource allocation problems (e.g. to stipulate that the optimal distribution must equitably-dominate another reference distribution).
This is a joint work with Ozlem Karsu and Alec Morton.
Bio:
Nikolaos (Nikos) Argyris is Lecturer in Operational Research at the School of Business and Economics in Loughborough University. He completed his undergraduate studies in Economics at Aristotle University, followed by an MSc and a PhD in Operational Research at the London School of Economics. Prior to joining Loughborough, Nikos was a Research Fellow in the Department of Statistics at the University of Warwick. Previously to that he held post-doctoral positions at the London School of Economics.
Nikos’ research interests broadly lie in the interface and applications of Mathematical Optimisation, Decision Theory/Analysis and Economics. He is particularly interested in modelling preferences, values and objectives to support decision making. His work draws together decision theory and optimisation methods to design frameworks for decision support and the underlying computational models. Another interest is in fair allocation of resources, particularly in the public sector but also in the context of cost/profit sharing. Nikos has published his research in leading journals in the field.