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Reallocation of an infinitely divisible good

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Author Info
Bettina Klaus (Department of Quantitative Economics, Maastricht University, P.O. Box 616, 6200 MD Maastricht, THE NETHERLANDS)
Hans Peters (Department of Quantitative Economics, Maastricht University, P.O. Box 616, 6200 MD Maastricht, THE NETHERLANDS)
Ton Storcken (Department of Quantitative Economics, Maastricht University, P.O. Box 616, 6200 MD Maastricht, THE NETHERLANDS)

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Abstract

We consider the problem of reallocating the total initial endowments of an infinitely divisible commodity among agents with single-peaked preferences. With the uniform reallocation rule we propose a solution which satisfies many appealing properties, describing the effect of population and endowment variations on the outcome. The central properties which are studied in this context are population monotonicity, bilateral consistency, (endowment) monotonicity and (endowment) strategy-proofness. Furthermore, the uniform reallocation rule is Pareto optimal and satisfies several equity conditions, e.g., equal-treatment and envy-freeness. We study the trade-off between properties concerning variation and properties concerning equity. Furthermore, we provide several characterizations of the uniform reallocation rule based on these properties.

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Publisher Info
Article provided by Springer in its journal Economic Theory.

Volume (Year): 10 (1997)
Issue (Month): 2 ()
Pages: 305-333
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Handle: RePEc:spr:joecth:v:10:y:1997:i:2:p:305-333

Note: Received: August 29, 1995; revised version June 26, 1996
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Find related papers by JEL classification:
D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Barbera, Salvador & Jackson, Matthew O. & Neme, Alejandro, 1997. "Strategy-Proof Allotment Rules," Games and Economic Behavior, Elsevier, vol. 18(1), pages 1-21, January. [Downloadable!] (restricted)
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(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. Özgür Kıbrıs & Serkan Küçükşenel, 2009. "Uniform trade rules for uncleared markets," Social Choice and Welfare, Springer, vol. 32(1), pages 101-121, January. [Downloadable!] (restricted)
  2. Kibris, Ozgur & Kucuksenel, Serkan, 2005. "Trade rules for uncleared markets," Working Papers 1232, California Institute of Technology, Division of the Humanities and Social Sciences. [Downloadable!]
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  3. Murat Atlamaz & Bettina Klaus, 2007. "Manipulation via Endowments in Exchange Markets with Indivisible Goods," Social Choice and Welfare, Springer, vol. 28(1), pages 1-18, January. [Downloadable!] (restricted)
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