This paper proposes a new method to introduce coherent risk measures for risks with infinite expectation, such as those characterized by some Pareto distributions. Extensions of the conditional value at risk, the weighted conditional value at risk and other examples are given. Actuarial applications are analyzed, such as extensions of the expected value premium principle when expected losses ar...

In the framework of supervised classi2cation problems, the estimation of feature relevance and the search of all discriminating sub-descriptions of objects have great practical signi2cance. Solving this problem in real situations is not always an easy task, because of the computational cost. The problems due to the size of matrix representation of objects, the computational complexity of algori...

We conduct a computational analysis of partitions in additively separable hedonic games that satisfy standard criteria of fairness and optimality. We show that computing a partition with maximum egalitarian or utilitarian social welfare is NP-hard in the strong sense whereas a Pareto optimal partition can be computed in polynomial time when preferences are strict. Perhaps surprisingly, checking...

We study optimal risk sharing among n agents endowed with distortion risk measures. Our model includes market frictions that can either represent linear transaction costs or risk premia charged by a clearing house for the agents. Risk sharing under thirdparty constraints is also considered. We obtain an explicit formula for Pareto optimal allocations. In particular, we find that a stop-loss or ...

Recent research on opportunistic schedulers for wireless data transmission has shown that link utilization is greatly improved by exploiting the independent variations in the wireless channels of users. The trade-off between spectral efficiency and fairness among users at the link level has been well studied in the literature. The focus of this paper is the impact of the variable rate and delay...

Recently, Chambers et al. (Journal of Economic Theory 70 (1996) 407}419; Working Paper, Southern Illinois University, Carbondale, 1996) have developed the concept of directional distance to measure technical e$ciency. However, there is no guarantee that such a measure must intersect the e$cient subset (also called strong e$cient subset) de"ned by Koopmans (Activity Analysis of Production and Al...

Identification of all pairs of objects in a dataset whose similarity is not less than a specified threshold is of major importance for management, search, and analysis of data. Set similarity joins are commonly used to implement this operation; they scale to large datasets and are versatile to represent a variety of similarity notions. Most methods proposed so far present two main phases at a h...

In Fairness versus Welfare, we advance the thesis that social policies should be assessed based entirely on their effects on individuals’ well-being. This thesis implies that no independent weight should be accorded to notions of fairness (other than many purely distributive notions). We support our thesis in three ways: by demonstrating how notions of fairness perversely reduce welfare, indeed...

When aggregating preferences of agents via voting, two desirable goals are to incentivize agents to participate in the voting process and then identify outcomes that are Pareto efficient. We consider participation as formalized by Brandl, Brandt, and Hofbauer (2015) based on the stochastic dominance (SD) relation. We formulate a new rule called RMEC (Rank Maximal Equal Contribution) that is pol...