A Characterization of a Family of Rules for the Adjudication of Conflicting Claims
AbstractWe consider the problem of adjudicating conflicting claims, and characterize the family of rules satisfying four standard invariance requirements, homogeneity, two composition properties, and consistency. It takes as point of departure the characterization of the family of two-claimant rules satisfying the first three requirements, and describes the restrictions imposed by consistency on this family and the further implications of this requirement for problems with three or more claimants. The proof, which is an alternative to Moulin's original proof (Econometrica, 2000), is based on a general method of constructing consistent extensions of two-claimant rules (Thomson, 2001), which exploits geometric properties of paths of awards, seen in their entirety.
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Bibliographic InfoPaper provided by University of Rochester - Center for Economic Research (RCER) in its series RCER Working Papers with number 530.
Length: 34 pages
Date of creation: Apr 2006
Date of revision:
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Postal: University of Rochester, Center for Economic Research, Department of Economics, Harkness 231 Rochester, New York 14627 U.S.A.
claims problems; consistent extensions; proportional rule; constrained equal awards rule; constrained equal losses rule.;
Find related papers by JEL classification:
- C79 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Other
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D74 - Microeconomics - - Analysis of Collective Decision-Making - - - Conflict; Conflict Resolution; Alliances
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-05-06 (All new papers)
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"New characterizations of old bankruptcy rules,"
Social Choice and Welfare,
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