How to fairly fund projects with limited budget?
Method of Equal Shares with Bounded Overspending
September 24, 2024
https://arxiv.org/pdf/2409.15005This paper investigates fairness and efficiency in participatory budgeting, where voters decide how to allocate a budget among proposed projects. The authors propose a new algorithm, Bounded Overspending (BOS), as a fairer and more efficient alternative to the existing Method of Equal Shares. BOS improves proportionality, ensuring diverse voter groups can fund projects, particularly in scenarios with limited budgets.
While not directly addressing LLMs, BOS offers valuable insights for LLM-based multi-agent systems:
- Resource allocation: BOS provides a mechanism for fairly allocating limited resources (like processing power or bandwidth) among multiple agents with potentially conflicting goals, especially relevant in resource-constrained environments.
- Fair decision-making: The paper emphasizes the importance of proportionality and fairness in decision-making processes, crucial when multiple LLM agents, potentially representing different stakeholders, need to reach consensus.
- Mechanism design for LLMs: BOS highlights the challenges and considerations in designing robust and fair mechanisms for LLM-based multi-agent systems, particularly when dealing with complex preferences and potential manipulation.