Allocation Made PracticaL
The AMPLify project will lay the foundations of a new field, computational behavioural game theory that brings a computational perspective, computational implementation, and behavioural insights to game theory. These foundations will be laid by tackling a pressing problem facing society today: the efficient and fair allocation of resources and costs. Research in allocation has previously considered simple, abstract models like cake cutting. We propose to develop richer models that capture important new features like asynchronicity which occur in many markets being developed in our highly connected and online world. The mechanisms currently used to allocate resources and costs are limited to these simple, abstract models and also do not take into account how people actually behave in practice. We will therefore design new mechanisms for these richer allocation problems that exploit insights gained from behavioural game theory like loss aversion. We will also tackle the complexity of these rich models and mechanisms with computational tools. Finally, we will use computation to increase both the efficiency and fairness of allocations. As a result, we will be able to do more with fewer resources and greater fairness. Our initial case studies in resource and cost allocation demonstrate that we can improve efficiency greatly, offering one company alone savings of up to 10% (which is worth tens of millions of dollars every year). We predict even greater impact with the more sophisticated mechanisms to be developed during the course of this project.
Field of science
- /natural sciences/mathematics/applied mathematics/game theory
- /social sciences/economics and business/business and management/commerce
Call for proposal
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