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Are incentives against economic justice?

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  • Velez, Rodrigo A.

Abstract

We consider the problem of fairly allocating a social endowment of indivisible goods and money when the domain of admissible preferences contains, but is not restricted to, quasi-linear preferences. We analyze the manipulability of the Generalized Money Rawlsian Fair (GMRF) solutions. (i) We show that the Nash and strong Nash equilibrium correspondences of the "preference revelation game form" associated with each GMRF solution coincide with the no-envy solution (in equilibrium, efficiency is preserved according to agents' true preferences). (ii) A corollary is that the GMRF solutions "naturally implement" the no-envy solution in Nash and strong Nash equilibria.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Economic Theory.

Volume (Year): 146 (2011)
Issue (Month): 1 (January)
Pages: 326-345

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Handle: RePEc:eee:jetheo:v:146:y:2011:i:1:p:326-345

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Web page: http://www.elsevier.com/locate/inca/622869

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Keywords: Efficiency Fairness Generalized Money Rawlsian Fair solutions Implementation Indivisible goods Manipulation Mechanism design No-envy;

References

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Citations

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Cited by:
  1. Andersson, Tommy & Svensson, Lars-Gunnar & Ehlers, Lars, 2010. "Budget-Balance, Fairness and Minimal Manipulability," Working Papers 2010:16, Lund University, Department of Economics, revised 15 Jan 2013.
  2. Rodrigo Velez & William Thomson, 2009. "Let them cheat!," RCER Working Papers 552, University of Rochester - Center for Economic Research (RCER).
  3. Tommy ANDERSSON & Lars EHLERS, 2013. "An Algorithm for Identifying Agent-k-Linked Allocations in Economies with Indivisibilities," Cahiers de recherche 17-2013, Centre interuniversitaire de recherche en économie quantitative, CIREQ.

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