On the axiomatics of resource allocation: Interpreting the consistency principle
AbstractAn allocation rule is consistent if the recommendation it makes for each problem “agrees” with the recommendation it makes for each associated reduced problem, obtained by imagining some agents leaving with their assignments. Some authors have described the consistency principle as a “fairness principle”. Others have written that it is not about fairness, that it should be seen as an “operational principle”. We dispute the particular fairness interpretations that have been offered for consistency, but develop a different and important fairness foundation for the principle, arguing that it can be seen as the result of adding “some” efficiency to a “post-application” and efficiency-free expression of solidarity in response to population changes. We also challenge the interpretations of consistency as an operational principle that have been given, but identify a sense in which such an interpretation can be supported. We review and assess the other interpretations of the principle, as “robustness”, “coherence”, and “reinforcement”.
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Bibliographic InfoPaper provided by University of Rochester - Center for Economic Research (RCER) in its series RCER Working Papers with number 573.
Length: 44 pages
Date of creation: Sep 2012
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.
consistency principle; fairness principle; solidarity; punctual axiom; relational axiom; consistent extensions; converse consistency;
Other versions of this item:
- Thomson, William, 2012. "On The Axiomatics Of Resource Allocation: Interpreting The Consistency Principle," Economics and Philosophy, Cambridge University Press, vol. 28(03), pages 385-421, November.
- 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
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- Juan D. Moreno-Ternero & John E. Roemer, 2011.
"A common ground for resource and welfare egalitarianism,"
11.12, Universidad Pablo de Olavide, Department of Economics.
- Moreno-Ternero, Juan D. & Roemer, John E., 2012. "A common ground for resource and welfare egalitarianism," Games and Economic Behavior, Elsevier, vol. 75(2), pages 832-841.
- MORENO-TERNERO, Juan D. & ROEMER, John E., 2008. "Axiomatic resource allocation for heterogeneous agents," CORE Discussion Papers 2008018, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
- Serizawa, Shigehiro, 2002. "Inefficiency of Strategy-Proof Rules for Pure Exchange Economies," Journal of Economic Theory, Elsevier, vol. 106(2), pages 219-241, October.
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