Re: ISI Interview

Posted by iti on Jun 15, 2017; 5:46am
URL: http://discussion-forum.276.s1.nabble.com/ISI-Interview-tp7577774p7605637.html

 Hey can someone provide solution to this question?

A professor has 20 hours to allocate between two PhD students. Let x1 and x2 be the time
allocated to the two students. The utility of each student is as follows:
U1 = −|x1 − 2| and U2 = −|x2 − 8|
(a) Find the set of Pareto efficient allocations.
(b) What will be the optimal time allocation if the professor maximizes a social function
given by : min{U1, U2}