Market Design with Distributional Objectives
We provide optimal solutions to an institution that has distributional objectives when choosing from a set of applications based on merit (or priority). For example, in college admissions, administrators may want to admit a diverse class in addition to choosing students with the highest qualifications. We provide a family of choice rules that maximize merit subject to attaining a level of the distributional objective. We study the desirable properties of choice rules in this family and use them to find all subsets of applications on the Pareto frontier of the distributional objective and merit. In addition, we provide two novel characterizations of matroids.
Code (0)
등록된 구현이 없습니다.
Tasks
DiversitySimilar Papers 제목 키워드 기반
Efficient Market Design with Distributional Objectives
Given an initial matching and a policy objective on the distribution of agent types to institutions, we study the existence of a mechanism that weakly improves the distributional objective and satisfies constrained effic…
Investigating Calibration Challenges in Probabilistic Electricity Price Forecasting
As renewable energy integration increases market volatility, probabilistic electricity price forecasting has become essential for effective risk management. However, current-proper-scoring rules often prioritize forecast…
MenuNet: A Strategy-Proof Mechanism for Matching Markets
Strategy-proofness is a fundamental desideratum in mechanism design, ensuring truthful reporting and robust participation. Stability is another central requirement in matching markets, widely adopted in applications such…
Computational EfficiencyDSLOB: A Synthetic Limit Order Book Dataset for Benchmarking Forecasting Algorithms under Distributional Shift
In electronic trading markets, limit order books (LOBs) provide information about pending buy/sell orders at various price levels for a given security. Recently, there has been a growing interest in using LOB data for re…
BenchmarkingTime SeriesTime Series AnalysisRedesigning the US Army's Branching Process: A Case Study in Minimalist Market Design
We present the proof-of-concept for minimalist market design (S\"{o}nmez, 2023) as an effective methodology to enhance an institution based on the desiderata of stakeholders with minimal interference. Four objectives-res…