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A Noncooperative Support for Equal Division in Estate Division Problems

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Author Info
Itai Ashlagi () (Harvard Business School, Negotiation, Organizations & Markets Unit)
Emin Karagozoglu () (Department of Economics, Maastricht University)
Bettina Klaus () (Harvard Business School, Negotiation, Organizations & Markets Unit)

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Abstract

We consider estate division problems, a generalization of bankruptcy problems. We show that in a direct revelation claim game, if the underlying division rule satisfies efficiency, equal treatment of equals, and weak order preservation, then all (pure strategy) Nash equilibria induce equal division. Next, we consider division rules satisfying efficiency, equal treatment of equals, and claims monotonicity. For claim games with at most three agents, again all Nash equilibria induce equal division. Surprisingly, this result does not extend to claim games with more than three agents. However, if nonbossiness is added, then equal division is restored.

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Publisher Info
Paper provided by Harvard Business School in its series Harvard Business School Working Papers with number 09-069.

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Length: 15 pages
Date of creation: Nov 2008
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Handle: RePEc:hbs:wpaper:09-069

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Related research
Keywords: Bankruptcy/estate division problems; claims monotonicity; direct revelation claim game; equal division; equal treatment of equals; Nash equilibria; nonbossiness; (weak) order preservation.;

Find related papers by JEL classification:
C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
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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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. Aumann, Robert J. & Maschler, Michael, 1985. "Game theoretic analysis of a bankruptcy problem from the Talmud," Journal of Economic Theory, Elsevier, vol. 36(2), pages 195-213, August. [Downloadable!] (restricted)
  2. Chun, Youngsub, 1989. "A noncooperative justification for egalitarian surplus sharing," Mathematical Social Sciences, Elsevier, vol. 17(3), pages 245-261, June. [Downloadable!] (restricted)
  3. Moulin, Herve, 2002. "Axiomatic cost and surplus sharing," 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 1, chapter 6, pages 289-357 Elsevier. [Downloadable!] (restricted)
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