Population Monotonic and Strategy-Proof Mechanisms Respecting Welfare Lower Bounds
AbstractThe significance of population monotonicity and welfare bounds is well-recognized in the fair division literature. We characterize population monotonic and incentive compatible mechanisms which allocate the goods efficiently and respect a welfare lower bound chosen in the fair allocation problem of allocating collectively owned indivisible goods or bads when monetary transfers are possible and preferences are private information. We consider the welfare bounds that are central to the fair allocation literature, namely, the identical-preferences lower-bound, individual rationality, the stand-alone lower-bound, and k-fairness. We also compare the strength and associated budget deficits of and the logical relations between the aforementioned lower bounds.
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Bibliographic InfoPaper provided by University of Adelaide, School of Economics in its series School of Economics Working Papers with number 2012-05.
Length: 28 pages
Date of creation: Aug 2012
Date of revision:
welfare bounds; the identical-preferences lower-bound; individual rationality; the stand-alone lower-bound; k-fairness; population monotonicity; collective ownership; allocation of indivisible goods and money; NIMBY problems; imposition of tasks; Groves mechanisms; strategy-proofness;
Find related papers by JEL classification:
- C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other
- D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-09-03 (All new papers)
- NEP-CTA-2012-09-03 (Contract Theory & Applications)
- NEP-MIC-2012-09-03 (Microeconomics)
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