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Two Derivations of the Uniform Rule and an Application to Bankruptcy

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Author Info

  • Schummer, J.
  • Thomson, W.

Abstract

We consider the problem of allocating a single infinitely divisible commodity to agents with single-peaked preferences, and establish two properties of the rule that has played the central role in the analysis of this problem, the uniform role. Among the efficient allocations, it selects (1) the one at which the difference between the largest amount received by any agent and the smallest sush amount is minimal, and (2) the one at which the variance of the amounts received by the agents is minimal.

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Bibliographic Info

Paper provided by University of Rochester - Center for Economic Research (RCER) in its series RCER Working Papers with number 423.

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Length: 11 pages
Date of creation: 1996
Date of revision:
Handle: RePEc:roc:rocher:423

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Postal: University of Rochester, Center for Economic Research, Department of Economics, Harkness 231 Rochester, New York 14627 U.S.A.

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Keywords: BANKRUPTCY;

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References

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  1. Nir Dagan, 1996. "Consistency and the Walrasian Allocations Correspondence," Economic theory and game theory 012, Nir Dagan.
  2. Otten, G.J. & Peters, H. & Volij, O., 1994. "Two Characterizations of the Uniform Rule for Division Problems with Single-Peaked Preferences," Discussion Paper 1994-49, Tilburg University, Center for Economic Research.
  3. Sprumont, Yves, 1991. "The Division Problem with Single-Peaked Preferences: A Characterization of the Uniform Allocation Rule," Econometrica, Econometric Society, vol. 59(2), pages 509-19, March.
  4. Salvador Barbera, 1995. "Strategy-Proof Allotment Rules," Discussion Papers 1142, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  5. Thomson William, 1994. "Consistent Solutions to the Problem of Fair Division When Preferences Are Single-Peaked," Journal of Economic Theory, Elsevier, vol. 63(2), pages 219-245, August.
  6. Thomson, W., 1991. "Population-Monotonic Solutions to the Problem of Fair Division when Preferences are Single-Peaked," RCER Working Papers 302, University of Rochester - Center for Economic Research (RCER).
  7. Ching, Stephen, 1992. "A simple characterization of the uniform rule," Economics Letters, Elsevier, vol. 40(1), pages 57-60, September.
  8. Dutta, Bhaskar & Ray, Debraj, 1989. "A Concept of Egalitarianism under Participation Constraints," Econometrica, Econometric Society, vol. 57(3), pages 615-35, May.
  9. O'Neill, Barry, 1982. "A problem of rights arbitration from the Talmud," Mathematical Social Sciences, Elsevier, vol. 2(4), pages 345-371, June.
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