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Rationing with baselines: the composition extension operator

Author

Listed:
  • Jens Hougaard

    ()

  • Juan Moreno-Ternero

    ()

  • Lars Østerdal

    ()

Abstract

We introduce a new operator for general rationing problems in which, besides conflicting claims, individual baselines play an important role in the rationing process. The operator builds onto ideas of composition, which are not only frequent in rationing, but also in related problems such as bargaining, choice, and queuing. We characterize the operator and show how it preserves some standard axioms in the literature on rationing. We also relate it to recent contributions in such literature. Copyright Springer Science+Business Media New York 2013

Suggested Citation

  • Jens Hougaard & Juan Moreno-Ternero & Lars Østerdal, 2013. "Rationing with baselines: the composition extension operator," Annals of Operations Research, Springer, vol. 211(1), pages 179-191, December.
  • Handle: RePEc:spr:annopr:v:211:y:2013:i:1:p:179-191:10.1007/s10479-013-1471-8
    DOI: 10.1007/s10479-013-1471-8
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    References listed on IDEAS

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    1. Kaminski, Marek M., 2006. "Parametric rationing methods," Games and Economic Behavior, Elsevier, vol. 54(1), pages 115-133, January.
    2. Hougaard, Jens Leth & Moreno-Ternero, Juan D. & Østerdal, Lars Peter, 2012. "A unifying framework for the problem of adjudicating conflicting claims," Journal of Mathematical Economics, Elsevier, vol. 48(2), pages 107-114.
    3. John E. Roemer, 1986. "Equality of Resources Implies Equality of Welfare," The Quarterly Journal of Economics, Oxford University Press, vol. 101(4), pages 751-784.
    4. Kalai, Ehud, 1977. "Proportional Solutions to Bargaining Situations: Interpersonal Utility Comparisons," Econometrica, Econometric Society, vol. 45(7), pages 1623-1630, October.
    5. Jens Hougaard & Juan Moreno-Ternero & Lars Østerdal, 2013. "Rationing in the presence of baselines," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 40(4), pages 1047-1066, April.
    6. Hervé Moulin, 2000. "Priority Rules and Other Asymmetric Rationing Methods," Econometrica, Econometric Society, vol. 68(3), pages 643-684, May.
    7. Juan D Moreno-Ternero & John E Roemer, 2006. "Impartiality, Priority, and Solidarity in the Theory of Justice," Econometrica, Econometric Society, vol. 74(5), pages 1419-1427, September.
    8. 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.
    9. Youngsub Chun, 1999. "Equivalence of axioms for bankruptcy problems," International Journal of Game Theory, Springer;Game Theory Society, vol. 28(4), pages 511-520.
    10. Hokari, Toru & Thomson, William, 2008. "On properties of division rules lifted by bilateral consistency," Journal of Mathematical Economics, Elsevier, vol. 44(11), pages 1057-1071, December.
    11. Juan Moreno-Ternero & Antonio Villar, 2006. "New characterizations of a classical bankruptcy rule," Review of Economic Design, Springer;Society for Economic Design, vol. 10(2), pages 73-84, August.
    12. Ju, Biung-Ghi & Miyagawa, Eiichi & Sakai, Toyotaka, 2007. "Non-manipulable division rules in claim problems and generalizations," Journal of Economic Theory, Elsevier, vol. 132(1), pages 1-26, January.
    13. M. Pulido & P. Borm & R. Hendrickx & N. Llorca & J. Sánchez-Soriano, 2008. "Compromise solutions for bankruptcy situations with references," Annals of Operations Research, Springer, vol. 158(1), pages 133-141, February.
    14. Youngsub Chun, 1999. "Equivalence of Axioms for Bankruptcy Problems," Working Paper Series no1, Institute of Economic Research, Seoul National University.
    15. Thomson, William, 2003. "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: a survey," Mathematical Social Sciences, Elsevier, vol. 45(3), pages 249-297, July.
    16. Young, H. P., 1988. "Distributive justice in taxation," Journal of Economic Theory, Elsevier, vol. 44(2), pages 321-335, April.
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    Citations

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    Cited by:

    1. Thomson, William, 2015. "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: An update," Mathematical Social Sciences, Elsevier, vol. 74(C), pages 41-59.
    2. Juan D. Moreno-Ternero, 2017. "A Talmudic Approach to Bankruptcy Problems," Working Papers 17.01, Universidad Pablo de Olavide, Department of Economics.
    3. repec:spr:annopr:v:254:y:2017:i:1:d:10.1007_s10479-017-2455-x is not listed on IDEAS
    4. Pere Timoner & Josep Maria Izquierdo, 2014. "Rationing problems with payoff thresholds," UB Economics Working Papers 2014/311, Universitat de Barcelona, Facultat d'Economia i Empresa, UB Economics.
    5. Pere Timoner Lledó & Josep Maria Izquierdo Aznar, 2015. "Generalized rationing problems and solutions," UB Economics Working Papers 2015/329, Universitat de Barcelona, Facultat d'Economia i Empresa, UB Economics.
    6. René Brink & Juan D. Moreno-Ternero, 2017. "The reverse TAL-family of rules for bankruptcy problems," Annals of Operations Research, Springer, vol. 254(1), pages 449-465, July.
    7. Timoner, Pere & Izquierdo, Josep M., 2016. "Rationing problems with ex-ante conditions," Mathematical Social Sciences, Elsevier, vol. 79(C), pages 46-52.

    More about this item

    Keywords

    Rationing; Baselines; Claims; Operator; Composition;

    JEL classification:

    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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