>
you're reading...
Announcements

SACT talk: On the Tradeoff between Economic Efficiency and Strategyproofness in Randomized Social Choice

Time: 1:00pm Tuesday 28 May.

Location: SIT 402

Speaker: Haris Aziz, NICTA

Title: On the Tradeoff between Economic Efficiency and Strategyproofness in Randomized Social Choice

Abstract: Two fundamental notions in microeconomic theory are
efficiency—no agent can be made better off without making
another one worse off—and strategyproofness—no agent can
obtain a more preferred outcome by misrepresenting his preferences.
When social outcomes are probability distributions (or lotteries) over
alternatives, there are varying degrees of these notions depending on
how preferences over alternatives are extended to preference over
lotteries. We show that efficiency and strategyproofness are
incompatible to some extent when preferences are defined using
stochastic dominance (SD) and therefore introduce a natural weakening
of SD based on Savage’s sure-thing principle (ST). While random
serial dictatorship is SD-strategyproof, it only satisfies
ST-efficiency. Our main result is that strict maximal
lotteries—an appealing class of social decision schemes due to
Kreweras and Fishburn—satisfy SD-efficiency and
ST-strategyproofness. I then discuss other possible approaches to
reconcile efficiency and strategyproofness.

 

Advertisements

Discussion

No comments yet.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

Enter your email address to subscribe to receive notifications of new announcements by email.

Join 68 other followers

%d bloggers like this: