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Inequity Aversion Pricing over Social Networks: Approximation Algorithms and Hardness Results [article]

Georgios Amanatidis, Peter Fulla, Evangelos Markakis, Krzysztof Sornat
2019 arXiv   pre-print
Namely, we consider a model introduced by Alon, Mansour, and Tennenholtz (EC 2013) that captures inequity aversion, i.e., prices offered to neighboring vertices should not be significantly different.  ...  We study a revenue maximization problem in the context of social networks.  ...  It was also supported by the European Union (European Social Fund -ESF) and Greek national funds through the Operational Program "Education and Lifelong Learning" of the National Strategic Reference Framework  ... 
arXiv:1606.06664v3 fatcat:doc6boauwrf7thoogcai5pyplq

Inequity Aversion Pricing over Social Networks: Approximation Algorithms and Hardness Results *

Georgios Amanatidis, Evangelos Markakis, Krzysztof Sornat
Namely, we consider a model introduced by Alon, Mansour, and Tennenholtz (EC 2013) that captures inequity aversion, i.e., prices offered to neighboring vertices should not be significantly different.  ...  We study a revenue maximization problem in the context of social networks.  ...  Despite this restriction, the problem still remains non-trivial, and it is currently not known if it is NP-complete 09:6 Inequity Aversion Pricing over Social Networks Algorithm 1: A 0.8-approximation  ... 

Differential pricing with inequity aversion in social networks

Noga Alon, Yishay Mansour, Moshe Tenneholtz
2013 Proceedings of the fourteenth ACM conference on Electronic commerce - EC '13  
We introduce and study the algorithmic problem of maximizing revenue in a network using differential pricing, where the prices offered to neighboring vertices cannot be substantially different.  ...  In contrast, we show that if one is allowed to introduce discontinuities (by deleting vertices) the optimization problem becomes computationally hard, and we exhibit algorithms for special classes of graphs  ...  Inequity aversion captures the need to avoid situations that a member in a social network will have significantly better deal than his peers in a social network.  ... 
doi:10.1145/2492002.2482545 dblp:conf/sigecom/AlonMT13 fatcat:qofu4cllcrarnbs6d5tc3pa2ri

The Cost of Business Cycles with Heterogeneous Trading Technologies

YiLi Chien
2014 Social Science Research Network  
In an economy with aggregate risk, the different portfolio choices induced by heterogeneous trading technologies lead to a larger consumption inequality in equilibrium, while this source of inequality  ...  In the benchmark economy with a reasonable low risk aversion rate, the business cycle costs 6.49% per period consumption for an average household when I calibrate this model to match the risk premium.  ...  level is over 3.  ... 
doi:10.2139/ssrn.2466706 fatcat:s7t4tppq3vb7diqdjgqshfyq4u

A Mean-Risk Model for the Traffic Assignment Problem with Stochastic Travel Times

Evdokia Nikolova, Nicolas E. Stier-Moses
2013 Social Science Research Network  
And how does the risk-aversion of commuters transform the resulting traffic conditions?  ...  We consider the traffic assignment problem on networks with stochastic travel times and analyze the resulting equilibria when strategic risk-averse commuters take into account the variability of their  ...  We thank two anonymous referees, the associate editor and the area editor for their comments which helped us improve the results and the presentation of the paper, and in particular for suggesting the  ... 
doi:10.2139/ssrn.2298389 fatcat:kndvwgrbdzecbev5wrkbvjwvsi

Mechanisms and allocations with positive network externalities

Anand Bhalgat, Sreenivas Gollapudi, Kamesh Munagala
2012 Proceedings of the 13th ACM Conference on Electronic Commerce - EC '12  
With the advent of social networks such as Facebook and LinkedIn, and online offers/deals web sites, network externalties raise the possibility of marketing and advertising to users based on influence  ...  Lastly, we consider the question of pricing and revenue optimization when the users in the network are selfish agents, and their private information is the vector of valuations for different items.  ...  Hardness of Approximation Before presenting our approximation algorithms, we show that the welfare maximization problem is MAX-SNP hard even for linear externality and the complete graph model.  ... 
doi:10.1145/2229012.2229029 dblp:conf/sigecom/BhalgatGM12 fatcat:auqss6coorf2xm6e6fwm5wvtb4

The Impact of Worst-Case Deviations in Non-Atomic Network Routing Games

Pieter Kleer, Guido Schäfer
2017 Theory of Computing Systems  
We also improve recent smoothness results to bound the Price of Risk Aversion.  ...  This notion is inspired by the Price of Risk Aversion recently studied by Nikolova and Stier-Moses (Nikolova and Stier-Moses 2015). Here we generalize their model and results.  ...  Fig. 6 and suppose that r 1 = r 2 = 1. Then the flow f that routes one unit of flow over both paths (s 1 , v 1 , 1, 2, t 1 ) and (s 2 , v 2 , 3, 4, t 2 ) is feasible and inducible (take δ = 0).  ... 
doi:10.1007/s00224-017-9829-y fatcat:lrpeu7ct6vh3bhxb7kryfk45bi

Macroeconomics with Heterogeneity: A Practical Guide

Fatih Guvenen
2012 Social Science Research Network  
I also discuss applications of incomplete markets models to trends in wealth, consumption, and earnings inequality both over the life cycle and over time, where this challenge is evident.  ...  What approximate aggregation does and does not imply is illustrated through several examples.  ...  In an asset pricing context, Constantinides and Duffie (1996) , Chan and Kogan (2002) and Guvenen (2011) show a similar result for risk aversion.  ... 
doi:10.2139/ssrn.1962275 fatcat:3ckjkynb5vcuvkzuvytl6yori4

A behavioral study of bargaining in social networks

Tanmoy Chakraborty, Stephen Judd, Michael Kearns, Jinsong Tan
2010 Proceedings of the 11th ACM conference on Electronic commerce - EC '10  
We analyze our experimental results from three points of view: social efficiency, nodal differences, and human differences; and contrast our behavioral results with the theories.  ...  We report on a series of highly controlled human subject experiments in networked bargaining.  ...  Hence our results cannot be exactly matched, but the Table 2 : Social Efficiency and Inequality Values compared between the non-costed case and the zerocost case.  ... 
doi:10.1145/1807342.1807382 dblp:conf/sigecom/ChakrabortyJKT10 fatcat:js5pim5ccvgnjjegvqlmd6jtta

Wireless Network Pricing

Jianwei Huang, Lin Gao
2013 Synthesis Lectures on Communication Networks  
evolving technology. • Facilitate the development of courses in this field Wireless Network Pricing  ...  The topics range from algorithms to hardware implementations and cover a broad spectrum of issues from security to multiple-access protocols.  ...  of the prices and powers for the ADP algorithm (left) and a gradient algorithm (right) in a network with 10 users and logarithmic utility functions.  ... 
doi:10.2200/s00505ed1v01y201305cnt013 fatcat:azeby2beerbytkqglfedokxnzu

Fair Optimization and Networks: A Survey

Wlodzimierz Ogryczak, Hanan Luss, Michał Pióro, Dritan Nace, Artur Tomaszewski
2014 Journal of Applied Mathematics  
That leads to concepts of fair optimization expressed by the equitable models that represent inequality averse optimization rather than strict inequality minimization; a particular widely applied example  ...  problems and for the resource allocation problems in communication networks.  ...  routing in fair multicommodity flow networks  ... 
doi:10.1155/2014/612018 fatcat:f3e4giyywzbh7mmb3nq73yven4

An Approximation Algorithm for Stackelberg Network Pricing [article]

S. Roch, P. Marcotte, G. Savard
2004 arXiv   pre-print
We first prove that this problem is strongly NP-hard. We then provide a polynomial time algorithm with a worst-case precision guarantee of 1/2_2 m_T+1, where m_T denotes the number of toll arcs.  ...  Finally we show that the approximation is tight with respect to a natural relaxation by constructing a family of instances for which the relaxation gap is reached.  ...  Acknowledgements This research was partially supported by NSERC and NATEQ. [2] Ausiello, G. et al., Complexity and Approximation, Springer, Berlin, 1999. References  ... 
arXiv:cs/0409054v1 fatcat:jntcq2zdajcbvcoqj56eykcenq

Measuring Tastes for Equity and Aggregate Wealth Behind the Veil of Ignorance

Jan Heufer, Jason Shachat, Yan Xu
2018 Social Science Research Network  
We find clusters of equity preferring, efficiency preferring, and socially agnostic individuals through reduced form, revealed preference, and structural estimation analyses.  ...  Abstract We propose an instrument to measure individuals' social preferences regarding equity and efficiency behind a veil of ignorance.  ...  treatment, a mix of risk and inequality aversion in their behind the VoI treatment and risk aversion in their lottery treatment.  ... 
doi:10.2139/ssrn.3285839 fatcat:4tb2qxhr5bagjohth2uohkwm5m

Coordination in the El Farol Bar problem: The role of social preferences and social networks

Shu-Heng Chen, Umberto Gostoli
2015 Journal of Economic Interaction and Coordination  
These elements are social networks and social preferences. The authors first show, through cellular automata, that social networks can contribute to the emergence of a "good society".  ...  They then show that the addition of some inequity-averse agents can even guarantee the emergence of the "good society". JEL B52 C63 C73  ...  The effect of social networks can then be concisely represented by the resultant empirical distribution over these equilibria.  ... 
doi:10.1007/s11403-015-0150-z fatcat:h7a4qkncebd5ba6pofxmg4tqze

Time-Varying International Diversification and the Forward Premium

Simon Scheuring, Benjamin Jonen
2011 Social Science Research Network  
Heterogenous investors experience varying risk aversion as a result of habit formation.  ...  Heterogenous investors experience varying risk aversion as a result of habit formation.  ...  As a result of income fluctuation and peoples' habit formation, the desire for international diversification fluctuates over time.  ... 
doi:10.2139/ssrn.1787370 fatcat:kneskelrxjerrjsbcran6itjcq
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