Treatment Allocation with Strategic Agents
- URL: http://arxiv.org/abs/2011.06528v5
- Date: Tue, 4 Apr 2023 21:44:16 GMT
- Title: Treatment Allocation with Strategic Agents
- Authors: Evan Munro
- Abstract summary: We show that the optimal rule can involve randomization, allocating treatments with less than 100% probability even to those who respond positively on average to the treatment.
We propose a sequential experiment based on Bayesian Optimization that converges to the optimal treatment rule without parametric assumptions on individual strategic behavior.
- Score: 0.0
- License: http://arxiv.org/licenses/nonexclusive-distrib/1.0/
- Abstract: There is increasing interest in allocating treatments based on observed
individual characteristics: examples include targeted marketing, individualized
credit offers, and heterogeneous pricing. Treatment personalization introduces
incentives for individuals to modify their behavior to obtain a better
treatment. Strategic behavior shifts the joint distribution of covariates and
potential outcomes. The optimal rule without strategic behavior allocates
treatments only to those with a positive Conditional Average Treatment Effect.
With strategic behavior, we show that the optimal rule can involve
randomization, allocating treatments with less than 100% probability even to
those who respond positively on average to the treatment. We propose a
sequential experiment based on Bayesian Optimization that converges to the
optimal treatment rule without parametric assumptions on individual strategic
behavior.
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