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Efficient egalitarian equivalent allocations over a single good

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  • Marco LiCalzi

    ()

  • Antonio Nicolò

    ()

Abstract

This 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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File URL: http://hdl.handle.net/10.1007/s00199-008-0361-9
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Bibliographic Info

Article provided by Springer in its journal Economic Theory.

Volume (Year): 40 (2009)
Issue (Month): 1 (July)
Pages: 27-45

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Handle: RePEc:spr:joecth:v:40:y:2009:i:1:p:27-45

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Web page: http://link.springer.de/link/service/journals/00199/index.htm

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Related research

Keywords: Egalitarism; Equity; Fair division; Implementation; No-envy; D63; C70; D30;

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  1. Crawford, Vincent P, 1979. "A Procedure for Generating Pareto-Efficient Egalitarian-Equivalent Allocations," Econometrica, Econometric Society, vol. 47(1), pages 49-60, January.
  2. Pazner, Elisha A & Schmeidler, David, 1978. "Egalitarian Equivalent Allocations: A New Concept of Economic Equity," The Quarterly Journal of Economics, MIT Press, vol. 92(4), pages 671-87, November.
  3. William Thomson, 2004. "Divide-and-Permute," RCER Working Papers 510, University of Rochester - Center for Economic Research (RCER).
  4. Akin, Ethan, 1995. "Vilfredo Pareto cuts the cake," Journal of Mathematical Economics, Elsevier, vol. 24(1), pages 23-44.
  5. Berliant, Marcus & Thomson, William & Dunz, Karl, 1992. "On the fair division of a heterogeneous commodity," Journal of Mathematical Economics, Elsevier, vol. 21(3), pages 201-216.
  6. Miceli, Thomas J & Sirmans, C F, 2000. "Partition of Real Estate; or, Breaking Up Is (Not) Hard to Do," The Journal of Legal Studies, University of Chicago Press, vol. 29(2), pages 783-96, June.
  7. Demange, Gabrielle, 1984. "Implementing Efficient Egalitarian Equivalent Allocations," Econometrica, Econometric Society, vol. 52(5), pages 1167-77, September.
  8. Fabio Maccheroni & Fabio Maccheroni & Massimo Marinacci & Massimo Marinacci, 2003. "How to cut a pizza fairly: Fair division with decreasing marginal evaluations," Social Choice and Welfare, Springer, vol. 20(3), pages 457-465, 06.
  9. Sprumont, Yves & Zhou, Lin, 1999. "Pazner-Schmeidler rules in large societies," Journal of Mathematical Economics, Elsevier, vol. 31(3), pages 321-339, April.
  10. Chambers, Christopher P., 2005. "Allocation rules for land division," Journal of Economic Theory, Elsevier, vol. 121(2), pages 236-258, April.
  11. Berliant, M.C. & Dunz, K., 1991. "A Foundation of Location Theory : Exstence of Equilibrium, the Welfare Theorems and Core," RCER Working Papers 298, University of Rochester - Center for Economic Research (RCER).
  12. Weller, Dietrich, 1985. "Fair division of a measurable space," Journal of Mathematical Economics, Elsevier, vol. 14(1), pages 5-17, February.
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