The Price of Fairness

نویسندگان

  • Dimitris Bertsimas
  • Vivek F. Farias
  • Nikolaos Trichakis
چکیده

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.

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عنوان ژورنال:
  • Operations Research

دوره 59  شماره 

صفحات  -

تاریخ انتشار 2011