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An Application of the Shapley Value to Fair Division with Money

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  • Moulin, Herve

Abstract

The author considers fair division when monetary compensations are feasible and utilities are quasi-linear. Four axioms are discussed: individual rationality, resource monotonicity, population solidarity, and the stand alone test. The latter views the utility from consuming all the goods as an upper bound on every coalition's actual (joint) utility. Under efficiency, the four axioms show little compatibility. However, when the goods have enough substitutability in everyone's preferences, the Shapley value of the surplus sharing game satisfies all four axioms. An example is the optimal assignment of indivisible goods when every agent consumes only one good. Copyright 1992 by The Econometric Society.

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Bibliographic Info

Article provided by Econometric Society in its journal Econometrica.

Volume (Year): 60 (1992)
Issue (Month): 6 (November)
Pages: 1331-49

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Handle: RePEc:ecm:emetrp:v:60:y:1992:i:6:p:1331-49

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Cited by:
  1. RAMAEKERS, Eve, . "Fair allocation of indivisible goods: the two-agent case," CORE Discussion Papers RP -2483, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Sanchez, Francisco Sanchez, 2002. "About inheritance distribution," Journal of Mathematical Economics, Elsevier, vol. 37(4), pages 297-309, July.
  3. de Clippel, Geoffroy & Bejan, Camelia, 2011. "No profitable decompositions in quasi-linear allocation problems," Journal of Economic Theory, Elsevier, vol. 146(5), pages 1995-2012, September.
  4. Miguel Ginés Vilar & Francisco Marhuenda, 1995. "Cost Monotonic Mecanisms," Working Papers. Serie AD 1995-01, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  5. Böhringer, Christoph & Helm, Carsten, 2001. "Fair division with general equilibrium effects and international climate politics," ZEW Discussion Papers 01-67, ZEW - Zentrum für Europäische Wirtschaftsforschung / Center for European Economic Research.
  6. Bevia, Carmen, 1996. "Population monotonicity in economies with one indivisible good," Mathematical Social Sciences, Elsevier, vol. 32(2), pages 125-137, October.
  7. Bevia, Carmen, 1996. "Population monotonicity in a general model with indivisible goods," Economics Letters, Elsevier, vol. 50(1), pages 91-97, January.
  8. Helm, Carsten & Simonis, Udo E., 2000. "Distributive justice in international environmental policy - theoretical foundation and exemplary formulation," Discussion Papers, Research Professorship Environmental Policy FS II 00-404, Social Science Research Center Berlin (WZB).
  9. MISHRA, Debasis & RANGARAJAN, Bharath, 2005. "Cost sharing in a job scheduling problem," CORE Discussion Papers 2005053, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  10. Böhringer, Christoph & Helm, Carsten, 2008. "On the fair division of greenhouse gas abatement cost," Resource and Energy Economics, Elsevier, vol. 30(2), pages 260-276, May.
  11. Maniquet, F., 2000. "A Characterization of the Shapley Value in Queueing Problems," Papers 222, Notre-Dame de la Paix, Sciences Economiques et Sociales.
  12. Geoffroy de Clippel, 2010. "Copmment on Egalitarianism under Incomplete Information," Working Papers 2010-4, Brown University, Department of Economics.
  13. Thomson, William, 2011. "Chapter Twenty-One - Fair Allocation Rules," Handbook of Social Choice and Welfare, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 2, chapter 21, pages 393-506 Elsevier.
  14. Lars Ehlers & Bettina Klaus, 2003. "Resource-Monotonicity for House Allocation," Working Papers 33, Barcelona Graduate School of Economics.
  15. Helm, Carsten & Simonis, Udo E., 2000. "Verteilungsgerechtigkeit in der internationalen Umweltpolitik: Theoretische Fundierung und exemplarische Formulierung," Discussion Papers, Research Professorship Environmental Policy FS II 00-403, Social Science Research Center Berlin (WZB).
  16. Rebelo, S., 1997. "On the Determinant of Economic Growth," RCER Working Papers 443, University of Rochester - Center for Economic Research (RCER).
  17. Massimo Marinacci & Luigi Montrucchio, 2003. "Ultramodular functions," ICER Working Papers - Applied Mathematics Series 13-2003, ICER - International Centre for Economic Research.

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