{"72814":{"#nid":"72814","#data":{"type":"event","title":"ARC Colloquium: Dimitris Bertsimas, Massachusetts Institute of Technology","body":[{"value":"\u003Cp\u003EAbstract:\u003C\/p\u003E\u003Cp\u003EWe 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\u0027\u0027 allocation assuming that a fully efficient allocation is one that maximizes the sum of player utilities. We provide a tight characterization for the price of fairness for a general class of fair allocations that includes\u0026nbsp; proportional (Nash) fairness and max-min fairness. We further discuss applications of our results\u0026nbsp; in a variety of real world settings: communication networks, airtransportation and organ transplantation. \u003C\/p\u003E\u003Cp\u003E(joint work with Vivek Farias and Nikos Trichakis, MIT)\u003C\/p\u003E","summary":null,"format":"limited_html"}],"field_subtitle":"","field_summary":"","field_summary_sentence":[{"value":"The price of fairness"}],"uid":"27263","created_gmt":"2011-11-16 11:49:01","changed_gmt":"2016-10-08 01:56:37","author":"Elizabeth Ndongi","boilerplate_text":"","field_publication":"","field_article_url":"","field_event_time":{"event_time_start":"2010-09-13T14:30:00-04:00","event_time_end":"2010-09-13T14:30:00-04:00","event_time_end_last":"2010-09-13T14:30:00-04:00","gmt_time_start":"2010-09-13 18:30:00","gmt_time_end":"2010-09-13 18:30:00","gmt_time_end_last":"2010-09-13 18:30:00","rrule":null,"timezone":"America\/New_York"},"extras":[],"groups":[{"id":"70263","name":"ARC"}],"categories":[],"keywords":[],"core_research_areas":[],"news_room_topics":[],"event_categories":[],"invited_audience":[],"affiliations":[],"classification":[],"areas_of_expertise":[],"news_and_recent_appearances":[],"phone":[],"contact":[{"value":"\u003Cp\u003EElizabeth Ndongi\u003C\/p\u003E","format":"limited_html"}],"email":[],"slides":[],"orientation":[],"userdata":""}}}