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Efficient egalitarian equivalent allocations over a single good

  • Marco LiCalzi

    ()

  • Antonio Nicolò

    ()

This paper studies efficient and egalitarian allocations over a single heterogeneous and infinitely divisible good. We prove the existence of such allocations using only measure-theoretic arguments. Under the additional assumption of complete information, we identify a sufficient condition on agents' preferences that makes it possible to apply the Pazner-Schmeidler rule for uniquely selecting an efficient egalitarian equivalent allocation. Finally, we exhibit a simple procedure that implements the Pazner-Schmeidler selection in a subgame-perfect equilibrium.

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File URL: http://hdl.handle.net/10.1007/s00199-008-0361-9
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Article provided by Springer in its journal Economic Theory.

Volume (Year): 40 (2009)
Issue (Month): 1 (July)
Pages: 27-45

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Handle: RePEc:spr:joecth:v:40:y:2009:i:1:p:27-45
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  1. Berliant, M.C. & Dunz, K., 1991. "A Foundation of Location Theory : Exstence of Equilibrium, the Welfare Theorems and Core," RCER Working Papers 298, University of Rochester - Center for Economic Research (RCER).
  2. Elisha A. Pazner & David Schmeidler, 1975. "Egalitarian Equivalent Allocations: A New Concept of Economic Equity," Discussion Papers 174, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
  3. Crawford, Vincent P, 1979. "A Procedure for Generating Pareto-Efficient Egalitarian-Equivalent Allocations," Econometrica, Econometric Society, vol. 47(1), pages 49-60, January.
  4. Weller, Dietrich, 1985. "Fair division of a measurable space," Journal of Mathematical Economics, Elsevier, vol. 14(1), pages 5-17, February.
  5. Thomson, William, 2005. "Divide-and-permute," Games and Economic Behavior, Elsevier, vol. 52(1), pages 186-200, July.
  6. Demange, Gabrielle, 1984. "Implementing Efficient Egalitarian Equivalent Allocations," Econometrica, Econometric Society, vol. 52(5), pages 1167-77, September.
  7. Akin, Ethan, 1995. "Vilfredo Pareto cuts the cake," Journal of Mathematical Economics, Elsevier, vol. 24(1), pages 23-44.
  8. Sprumont, Yves & Zhou, Lin, 1999. "Pazner-Schmeidler rules in large societies," Journal of Mathematical Economics, Elsevier, vol. 31(3), pages 321-339, April.
  9. Miceli, Thomas J & Sirmans, C F, 2000. "Partition of Real Estate; or, Breaking Up Is (Not) Hard to Do," The Journal of Legal Studies, University of Chicago Press, vol. 29(2), pages 783-96, June.
  10. Berliant, Marcus & Thomson, William & Dunz, Karl, 1992. "On the fair division of a heterogeneous commodity," Journal of Mathematical Economics, Elsevier, vol. 21(3), pages 201-216.
  11. Fabio Maccheroni & Fabio Maccheroni & Massimo Marinacci & Massimo Marinacci, 2003. "How to cut a pizza fairly: Fair division with decreasing marginal evaluations," Social Choice and Welfare, Springer, vol. 20(3), pages 457-465, 06.
  12. Chambers, Christopher P., 2005. "Allocation rules for land division," Journal of Economic Theory, Elsevier, vol. 121(2), pages 236-258, April.
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