Balanced Consistency and Balanced Cost Reduction for Sequencing Problems
AbstractWe 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 InfoPaper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 10-035/1.
Date of creation: 19 Mar 2010
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Sequencing problem; minimal transfer rule; balanced consistency; balanced cost reduction;
Other versions of this item:
- René Brink & Youngsub Chun, 2012. "Balanced consistency and balanced cost reduction for sequencing problems," Social Choice and Welfare, Springer, vol. 38(3), pages 519-529, March.
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
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