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Fairness under Uncertainty with Indivisibilities

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Author Info
R?bert F. Veszteg ()

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Abstract

I analyze an economy with uncertainty in which a set of indivisible objects and a certain amount of money is to be distributed among agents. The set of intertemporally fair social choice functions based on envy-freeness and Pareto efficiency is characterized. I give a necessary and sufficient condition for its non-emptiness and propose a mechanism that implements the set of intertemporally fair allocations in Bayes-Nash equilibrium. Implementation at the ex ante stage is considered, too. I also generalize the existence result obtained with envy-freeness using a broader fairness concept, introducing the aspiration function.

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Publisher Info
Paper provided by Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC) in its series UFAE and IAE Working Papers with number 613.04.

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Length: 30
Date of creation: 15 Feb 2004
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Handle: RePEc:aub:autbar:613.04

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Related research
Keywords: aspiration function; envy-free social choice function; fairness; implementation; indivisible goods; uncertainty;

Find related papers by JEL classification:
D39 - Microeconomics - - Distribution - - - Other
D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances
D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information

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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. Francis Su, . "Rental Harmony: Sperner's Lemma in Fair Division," Claremont Colleges Working Papers 1999-10, Claremont Colleges. [Downloadable!]
  2. Corchon, Luis C. & Iturbe-Ormaetxe, Inigo, 2001. "A Proposal to Unify Some Concepts in the Theory of Fairness," Journal of Economic Theory, Elsevier, vol. 101(2), pages 540-571, December. [Downloadable!] (restricted)
    Other versions:
  3. Crawford, V. P. & Heller, W. P., 1979. "Fair division with indivisible commodities," Journal of Economic Theory, Elsevier, vol. 21(1), pages 10-27, August. [Downloadable!] (restricted)
  4. Moulin, Hervé, 1997. "Procedural cum Endstate Justice: An Implementation Viewpoint," Working Papers 97-17, Duke University, Department of Economics. [Downloadable!]
  5. William Thomson, 2004. "Divide-and-Permute," RCER Working Papers 510, University of Rochester - Center for Economic Research (RCER). [Downloadable!]
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  6. Jackson, Matthew O, 1991. "Bayesian Implementation," Econometrica, Econometric Society, vol. 59(2), pages 461-77, March. [Downloadable!] (restricted)
  7. Thibault Gajdos & Jean-Marc Tallon, 2002. "Fairness under Uncertainty," Economics Bulletin, Economics Bulletin, vol. 4(18), pages 1-7. [Downloadable!]
    Other versions:
  8. Palfrey, Thomas R & Srivastava, Sanjay, 1987. "On Bayesian Implementable Allocations," Review of Economic Studies, Blackwell Publishing, vol. 54(2), pages 193-208, April. [Downloadable!] (restricted)
  9. Alkan, Ahmet & Demange, Gabrielle & Gale, David, 1991. "Fair Allocation of Indivisible Goods and Criteria of Justice," Econometrica, Econometric Society, vol. 59(4), pages 1023-39, July. [Downloadable!] (restricted)
  10. Holmstrom, Bengt & Myerson, Roger B, 1983. "Efficient and Durable Decision Rules with Incomplete Information," Econometrica, Econometric Society, vol. 51(6), pages 1799-819, November. [Downloadable!] (restricted)
    Other versions:
  11. Preston McAfee, R., 1992. "Amicable divorce: Dissolving a partnership with simple mechanisms," Journal of Economic Theory, Elsevier, vol. 56(2), pages 266-293, April. [Downloadable!] (restricted)
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