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Policy Learning with Distributional Welfare. (arXiv:2311.15878v2 [stat.ME] UPDATED)
stat.ML updates on arXiv.org arxiv.org
In this paper, we explore optimal treatment allocation policies that target
distributional welfare. Most literature on treatment choice has considered
utilitarian welfare based on the conditional average treatment effect (ATE).
While average welfare is intuitive, it may yield undesirable allocations
especially when individuals are heterogeneous (e.g., with outliers) - the very
reason individualized treatments were introduced in the first place. This
observation motivates us to propose an optimal policy that allocates the
treatment based on the conditional quantile of individual …
arxiv explore literature outliers paper policy reason stat.me treatment welfare