Efficient egalitarian equivalent allocations over a single good
AbstractThis paper studies efficient and egalitarian allocations over a single heterogeneous and infinitely divisible good. We prove the existence of such allocations using only measure-theoretic arguments. Under the additional assumption of complete information, we identify a sufficient condition on agents' preferences that makes it possible to apply the Pazner-Schmeidler rule for uniquely selecting an efficient egalitarian equivalent allocation. Finally, we exhibit a simple procedure that implements the Pazner-Schmeidler selection in a subgame-perfect equilibrium.
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Bibliographic InfoArticle provided by Springer in its journal Economic Theory.
Volume (Year): 40 (2009)
Issue (Month): 1 (July)
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Web page: http://link.springer.de/link/service/journals/00199/index.htm
Other versions of this item:
- Marco LiCalzi & Antonio Nicolò, 2005. "Efficient Egalitarian Equivalent Allocations over a Single Good," Microeconomics 0510014, EconWPA.
- Marco LiCalzi & Antonio Nicolo, 2007. "Efficient Egalitarian Equivalent Allocations over a Single Good," Working Papers 152, Department of Applied Mathematics, Università Ca' Foscari Venezia.
- D1 - Microeconomics - - Household Behavior
- D2 - Microeconomics - - Production and Organizations
- D3 - Microeconomics - - Distribution
- D4 - Microeconomics - - Market Structure and Pricing
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