The Price of Fairness
The Price of Fairness
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DOI:
10.1287/opre.1100.0865
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发表时间:
2011-01-01
影响因子:
2.7
通讯作者:
Trichakis, Nikolaos
中科院分区:
文献类型:
--
作者:
Bertsimas, Dimitris;Farias, Vivek F.;Trichakis, Nikolaos
In this paper we study resource allocation problems that involve multiple self-interested parties or players and a central decision maker. We introduce and study the price of fairness, which is the relative system efficiency loss under a "fair" allocation assuming that a fully efficient allocation is one that maximizes the sum of player utilities. We focus on two well-accepted, axiomatically justified notions of fairness, viz., proportional fairness and max-min fairness. For these notions we provide a tight characterization of the price of fairness for a broad family of problems.