Two Derivations of the Uniform Rule and an Application to Bankruptcy
AbstractWe 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 InfoPaper provided by University of Rochester - Center for Economic Research (RCER) in its series RCER Working Papers with number 423.
Length: 11 pages
Date of creation: 1996
Date of revision:
Contact details of provider:
Postal: University of Rochester, Center for Economic Research, Department of Economics, Harkness 231 Rochester, New York 14627 U.S.A.
Other versions of this item:
- Schummer, James & Thomson, William, 1997. "Two derivations of the uniform rule and an application to bankruptcy," Economics Letters, Elsevier, vol. 55(3), pages 333-337, September.
- D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
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