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Recursive no-envy

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Author Info

  • Diego A. Dominguez

    ()
    (Centro de Investigacion Economica (CIE), Instituto Tecnologico Autonomo de Mexico (ITAM))

  • Antonio Nicolo

    ()
    (Department of Economics, University of Padua)

Abstract

In economics the main efficiency criterion is that of Pareto-optimality. For problems of distributing a social endowment a central notion of fairness is no-envy (each agent should receive a bundle at least as good, according to her own preferences, as any of the other agent's bundle). For most economies there are multiple allocations satisfying these two properties. We provide a procedure, based on distributional implications of these two properties, which selects a single allocation which is Pareto-optimal and satisfies no-envy in two-agent exchange economies. There is no straightforward generalization of our procedure to more than two-agents.

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Bibliographic Info

Paper provided by Centro de Investigacion Economica, ITAM in its series Working Papers with number 0803.

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Length: 16 pages
Date of creation: Jul 2008
Date of revision:
Handle: RePEc:cie:wpaper:0803

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Keywords: no-envy; fair allocation; recursive methods; exchange economies;

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Cited by:
  1. Thomson, William, 2011. "Chapter Twenty-One - Fair Allocation Rules," Handbook of Social Choice and Welfare, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 2, chapter 21, pages 393-506 Elsevier.

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