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A new solution to the problem of adjudicating conflicting claims

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  • Diego Dominguez
  • William Thomson

    ()

Abstract

For the problem of adjudicating conflicting claims, we consider the requirement that each agent should receive at least 1/n his claim truncated at the amount to divide, where n is the number of claimants (Moreno-Ternero and Villar, 2004a). We identify two families of rules satisfying this bound. We then formulate the requirement that for each problem, the awards vector should be obtainable in two equivalent ways, (i) directly or (ii) in two steps, first assigning to each claimant his lower bound and then applying the rule to the appropriately revised problem. We show that there is only one rule satisfying this requirement. We name it the “ rule”, as it is obtained by a recursion. We then undertake a systematic investigation of the properties of the rule. Copyright Springer-Verlag Berlin/Heidelberg 2006

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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 28 (2006)
Issue (Month): 2 (06)
Pages: 283-307

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Handle: RePEc:spr:joecth:v:28:y:2006:i:2:p:283-307

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Related research

Keywords: Claims problems; Recursive rule.;

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References

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  1. Hervé Moulin, 2000. "Priority Rules and Other Asymmetric Rationing Methods," Econometrica, Econometric Society, vol. 68(3), pages 643-684, May.
  2. Youngsub Chun & William Thomson, 2004. "Convergence under Replication of Rules to Adjudicate Conflicting Claims," RCER Working Papers 512, University of Rochester - Center for Economic Research (RCER).
  3. Juan de Dios Moreno Ternero & Antonio Villar Notario, 2003. "The Talmud Rule And The Securement Of Agents? Awards," Working Papers. Serie AD 2003-05, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  4. Aumann, Robert J. & Maschler, Michael, 1985. "Game theoretic analysis of a bankruptcy problem from the Talmud," Journal of Economic Theory, Elsevier, vol. 36(2), pages 195-213, August.
  5. Herrero, Carmen & Villar, Antonio, 2001. "The three musketeers: four classical solutions to bankruptcy problems," Mathematical Social Sciences, Elsevier, vol. 42(3), pages 307-328, November.
  6. Nir Dagan & Oscar Volij, 1997. "Bilateral Comparisons and Consistent Fair Division Rules in the Context of Bankruptcy Problems," Economic theory and game theory 004, Nir Dagan.
  7. O'Neill, Barry, 1982. "A problem of rights arbitration from the Talmud," Mathematical Social Sciences, Elsevier, vol. 2(4), pages 345-371, June.
  8. Toru Hokari & William Thomson, 2003. "Claims problems and weighted generalizations of the Talmud rule," Economic Theory, Springer, vol. 21(2), pages 241-261, 03.
  9. Nir Dagan, 1996. "New Characterizations of Old Bankruptcy Rules," Economic theory and game theory 002, Nir Dagan.
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