Non-manipulable division rules in claim problems and generalizations
AbstractThis paper studies the problem of allocating divisible resources among agents based on their characteristics. A simple example is the bankruptcy problem, which allocates the liquidation value of a bankrupted firm to creditors based on their claims. By allowing agents' characteristics to be multi-dimensional and varying the meaning of variables in the model, our model subsumes a number of existing and new alloca- tion problems, such as the problems of cost sharing, social choice under transferable utilities, income redistribution, bankruptcy with multiple assets, probability updat- ing, and probability aggregation. We characterize allocation rules under which no group of agents can increase the total amount they receive by transferring their characteristics within the group. A number of existing and new results in specific problems are obtained as corollaries.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Economic Theory.
Volume (Year): 132 (2007)
Issue (Month): 1 (January)
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Web page: http://www.elsevier.com/locate/inca/622869
Other versions of this item:
- Biung-Ghi Ju & Eiichi Miyagawa & Toyotaka Sakai, 2003. "Non-Manipulable Division Rules in Claim Problems and Generalizations," WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS 200307, University of Kansas, Department of Economics, revised Aug 2005.
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- D30 - Microeconomics - - Distribution - - - General
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- H26 - Public Economics - - Taxation, Subsidies, and Revenue - - - Tax Evasion
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