Policy learning with asymmetric utilities. (arXiv:2206.10479v2 [stat.ML] UPDATED)

Data-driven decision making plays an important role even in high stakes
settings like medicine and public policy. Learning optimal policies from
observed data requires a careful formulation of the utility function whose
expected value is maximized across a population. Although researchers typically
use utilities that depend on observed outcomes alone, in many settings the
decision maker's utility function is more properly characterized by the joint
set of potential outcomes under all actions. For example, the Hippocratic
principle to ``do no …

arxiv policy utilities