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Balanced Consistency and Balanced Cost Reduction for Sequencing Problems

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  • Rene van den Brink

    (VU University Amsterdam)

  • Youngsub Chun

    (Seoul National University, Seoul, Korea)

Abstract

We investigate the implications of imposing balanced consistency and balanced cost reduction in the context of sequencing problems. Balanced consistency requires that the effect on the payoff from the departure of one agent to another agent should be equal between any two agents. On the other hand, balanced cost reduction requires that if one agent leaves a problem, then the total payoffs of the remaining agents should be affected by the amount previously assigned to the leaving agent. We show that the minimal transfer rule is the only rule satisfying efficiency and Pareto indifference together with either one of our two main axioms, balanced consistency and balanced cost reduction.

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Bibliographic Info

Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 10-035/1.

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Date of creation: 19 Mar 2010
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Handle: RePEc:dgr:uvatin:20100035

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Keywords: Sequencing problem; minimal transfer rule; balanced consistency; balanced cost reduction;

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  1. Thomson, William, 1983. "Problems of fair division and the Egalitarian solution," Journal of Economic Theory, Elsevier, vol. 31(2), pages 211-226, December.
  2. Curiel, Imma & Pederzoli, Giorgio & Tijs, Stef, 1989. "Sequencing games," European Journal of Operational Research, Elsevier, vol. 40(3), pages 344-351, June.
  3. Jeroen Suijs, 1996. "On incentive compatibility and budget balancedness in public decision making," Review of Economic Design, Springer, vol. 2(1), pages 193-209, December.
  4. Maniquet, F., 2000. "A Characterization of the Shapley Value in Queueing Problems," Papers 222, Notre-Dame de la Paix, Sciences Economiques et Sociales.
  5. Manipushpak Mitra, 2000. "Mechanism Design in Queueing Problems," Econometric Society World Congress 2000 Contributed Papers 1301, Econometric Society.
  6. van den Brink, Rene, 2007. "Null or nullifying players: The difference between the Shapley value and equal division solutions," Journal of Economic Theory, Elsevier, vol. 136(1), pages 767-775, September.
  7. Manipushpak Mitra, 2002. "Achieving the first best in sequencing problems," Review of Economic Design, Springer, vol. 7(1), pages 75-91.
  8. Curiel, I. & Pederzoli, G. & Tijs, S.H., 1989. "Sequencing games," Open Access publications from Tilburg University urn:nbn:nl:ui:12-154243, Tilburg University.
  9. Youngsub Chun, 2006. "No-envy in queueing problems," Economic Theory, Springer, vol. 29(1), pages 151-162, September.
  10. MISHRA, Debasis & RANGARAJAN, Bharath, 2005. "Cost sharing in a job scheduling problem," CORE Discussion Papers 2005053, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  11. René Brink & Gerard Laan & Valeri Vasil’ev, 2007. "Component efficient solutions in line-graph games with applications," Economic Theory, Springer, vol. 33(2), pages 349-364, November.
  12. Youngsub Chun, 2011. "Consistency and monotonicity in sequencing problems," International Journal of Game Theory, Springer, vol. 40(1), pages 29-41, February.
  13. Hart, Sergiu & Mas-Colell, Andreu, 1989. "Potential, Value, and Consistency," Econometrica, Econometric Society, vol. 57(3), pages 589-614, May.
  14. Brink, J.R. van den, 1999. "An Axiomatization of the Shapley Value Using a Fairness Property," Discussion Paper 1999-120, Tilburg University, Center for Economic Research.
  15. Chun, Youngsub, 2006. "A pessimistic approach to the queueing problem," Mathematical Social Sciences, Elsevier, vol. 51(2), pages 171-181, March.
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Cited by:
  1. Rene van den Brink & Youngsub Chun & Yuan Ju, 2014. "Auctioning and Selling Positions: A Non-cooperative Approach to Queuing Conflicts," Tinbergen Institute Discussion Papers 14-016/II, Tinbergen Institute.

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