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Punishing greediness in Divide-the-dollar games

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Abstract

Brams and Taylor (1994) presented a version of the Divide-the-dollar game (DD), which they call DD1. DD1 su ers from the following drawback: when each player demands approximately the entire dollar, then if the least greedy player is unique, then this player obtains approximately the entire dollar even if he is only slightly less greedy than the other players. I introduce a parametrized family of 2-person DD games whose endpoints" (the games that correspond to the extreme points of the parameter space) are (1) a variant of DD1, and (2) a game that completely overcomes the greediness-related problem. I also study an n-person generalization of this family. Finally, I show that the modeling choice between discrete and continuous bids may have far-reaching implications in DD games

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  • Shiran Rachmilevitch, "undated". "Punishing greediness in Divide-the-dollar games," Working Papers WP2016/4, University of Haifa, Department of Economics.
  • Handle: RePEc:haf:huedwp:wp201604
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    1. Nash, John, 1953. "Two-Person Cooperative Games," Econometrica, Econometric Society, vol. 21(1), pages 128-140, April.
    2. de Clippel, Geoffroy & Moulin, Herve & Tideman, Nicolaus, 2008. "Impartial division of a dollar," Journal of Economic Theory, Elsevier, vol. 139(1), pages 176-191, March.
    3. Nejat Anbarci, 2001. "Divide-the-Dollar Game Revisited," Theory and Decision, Springer, vol. 50(4), pages 295-303, June.
    4. Esat Cetemen & Emin Karagözoğlu, 2014. "Implementing equal division with an ultimatum threat," Theory and Decision, Springer, vol. 77(2), pages 223-236, August.
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    Keywords

    Bargaining games; Divide-the-dollar; Fair division;

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