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Strategy-Proofness on Bankruptcy Problems with an Indivisible Object

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  • Kazuhiko Hashimoto
  • Yu Nakayama

Abstract

We analyze bankruptcy problems with an indivisible object, where real owners and outside traders want to allocate an indivisible object among them with monetary compensation. The object might be a company that has gone bankrupt or a house left by a parent who has died, and so on. We show that there exists no rule satisfying strategy-proofness and the ownership lower bound on any domains that include at least three common preferences.

Suggested Citation

  • Kazuhiko Hashimoto & Yu Nakayama, 2016. "Strategy-Proofness on Bankruptcy Problems with an Indivisible Object," ISER Discussion Paper 0961, Institute of Social and Economic Research, Osaka University.
  • Handle: RePEc:dpr:wpaper:0961
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    File URL: https://www.iser.osaka-u.ac.jp/library/dp/2016/DP0961.pdf
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    References listed on IDEAS

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    7. Hervé Moulin, 2010. "Auctioning or assigning an object: some remarkable VCG mechanisms," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 34(2), pages 193-216, February.
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    11. Moulin, Herve, 1992. "An Application of the Shapley Value to Fair Division with Money," Econometrica, Econometric Society, vol. 60(6), pages 1331-1349, November.
    12. Kazuhiko Hashimoto, 2015. "Strategy-Proof Rule in Probabilistic Allocation Problem of an Indivisible Good and Money," ISER Discussion Paper 0931, Institute of Social and Economic Research, Osaka University.
    13. Gibbard, Allan, 1973. "Manipulation of Voting Schemes: A General Result," Econometrica, Econometric Society, vol. 41(4), pages 587-601, July.
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