Summary of Comparing Targeting Strategies For Maximizing Social Welfare with Limited Resources, by Vibhhu Sharma et al.
Comparing Targeting Strategies for Maximizing Social Welfare with Limited Resources
by Vibhhu Sharma, Bryan Wilder
First submitted to arxiv on: 11 Nov 2024
Categories
- Main: Machine Learning (cs.LG)
- Secondary: Machine Learning (stat.ML)
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| Summary difficulty | Written by | Summary |
|---|---|---|
| High | Paper authors | High Difficulty Summary Read the original abstract here |
| Medium | GrooveSquid.com (original content) | Medium Difficulty Summary Machine learning is increasingly used to select which individuals receive limited-resource interventions in domains such as human services, education, development, and more. However, it is often not apparent what the right quantity is for models to predict. Policymakers rarely have access to data from a randomized controlled trial (RCT) that would enable accurate estimates of which individuals would benefit more from the intervention, while observational data creates a substantial risk of bias in treatment effect estimates. Practitioners instead commonly use a technique termed “risk-based targeting” where the model is just used to predict each individual’s status quo outcome (an easier, non-causal task). Those with higher predicted risk are offered treatment. There is currently almost no empirical evidence to inform which choices lead to the most effective machine learning-informed targeting strategies in social domains. In this work, we use data from 5 real-world RCTs in a variety of domains to empirically assess such choices. We find that when treatment effects can be estimated with high accuracy (which we simulate by allowing the model to partially observe outcomes in advance), treatment effect based targeting substantially outperforms risk-based targeting, even when treatment effect estimates are biased. Moreover, these results hold even when the policymaker has strong normative preferences for assisting higher-risk individuals. However, the features and data actually available in most RCTs we examine do not suffice for accurate estimates of heterogeneous treatment effects. Our results suggest treatment effect targeting has significant potential benefits, but realizing these benefits requires improvements to data collection and model training beyond what is currently common in practice. |
| Low | GrooveSquid.com (original content) | Low Difficulty Summary Machine learning is used to choose which individuals get help. But it’s hard to know who will benefit most from the help. This paper looks at how well different ways of choosing work. It uses real-world data from five studies to see which method works best. The results show that one method, called treatment effect targeting, works better than another method when we can be sure what the outcome is. Even if the estimates are a little off, this method still does well. However, the paper also finds that we need more and better data to make accurate choices. |
Keywords
* Artificial intelligence * Machine learning
