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Rationing with baselines: The composition extension operator

  • Hougaard, Jens Leth

    ()

    (Institute of Food and Resource Economics)

  • Moreno-Ternero, Juan D.

    (Department of Economics)

  • Østerdal, Lars Peter

    (Department of Business and Economics)

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.

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File URL: http://static.sdu.dk/mediafiles//1/5/A/%7B15A25511-CBE0-4363-9634-5761F86F8C05%7Ddpbe23_2012.pdf
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Paper provided by Department of Business and Economics, University of Southern Denmark in its series Discussion Papers of Business and Economics with number 23/2012.

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Length: 13 pages
Date of creation: 29 Nov 2012
Date of revision:
Handle: RePEc:hhs:sdueko:2012_023
Contact details of provider: Postal: Department of Business and Economics, University of Southern Denmark, Campusvej 55, DK-5230 Odense M, Denmark
Phone: 65 50 32 33
Fax: 65 50 32 37
Web page: http://www.sdu.dk/ivoe
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  1. MORENO-TERNERO, Juan D. & VILLAR, Antonio, . "New characterizations of a classical bankruptcy rule," CORE Discussion Papers RP -1926, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  2. Roemer, John E, 1986. "Equality of Resources Implies Equality of Welfare," The Quarterly Journal of Economics, MIT Press, vol. 101(4), pages 751-84, November.
  3. Jens Leth Hougaard & Juan D. Moreno-Ternero & Lars Peter Østerdal, 2011. "A unifying framework for the problem of adjudicating conflicting claims," MSAP Working Paper Series 01_2011, University of Copenhagen, Department of Food and Resource Economics.
  4. Jens Leth Hougaard & Juan D. Moreno-Ternero & Lars Peter Østerdal, 2010. "Baseline Rationing," Discussion Papers 10-16, University of Copenhagen. Department of Economics.
  5. Kalai, Ehud, 1977. "Proportional Solutions to Bargaining Situations: Interpersonal Utility Comparisons," Econometrica, Econometric Society, vol. 45(7), pages 1623-30, October.
  6. Juan D. Moreno-Ternero & John E. Roemer, 2011. "A common ground for resource and welfare egalitarianism," Working Papers 11.12, Universidad Pablo de Olavide, Department of Economics.
  7. Youngsub Chun, 1999. "Equivalence of Axioms for Bankruptcy Problems," Working Paper Series no1, Institute of Economic Research, Seoul National University.
  8. Plott, Charles R, 1973. "Path Independence, Rationality, and Social Choice," Econometrica, Econometric Society, vol. 41(6), pages 1075-91, November.
  9. Jens Hougaard & Juan Moreno-Ternero & Lars Østerdal, 2013. "Rationing in the presence of baselines," Social Choice and Welfare, Springer, vol. 40(4), pages 1047-1066, April.
  10. Youngsub Chun, 1999. "Equivalence of axioms for bankruptcy problems," International Journal of Game Theory, Springer, vol. 28(4), pages 511-520.
  11. MORENO-TERNERO, Juan D. & ROEMER, John E., 2005. "Impartiality, priority, and solidarity in the theory of justice," CORE Discussion Papers 2005077, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  12. Hervé Moulin, 2000. "Priority Rules and Other Asymmetric Rationing Methods," Econometrica, Econometric Society, vol. 68(3), pages 643-684, May.
  13. 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.
  14. 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.
  15. 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.
  16. Pulido, M. & Borm, P.E.M. & Hendrickx, R.L.P. & Llorca, N. & Sánchez-Soriano, J., 2008. "Compromise solutions for bankruptcy situations with references," Other publications TiSEM d5052c4d-eda1-4d7e-b3d0-d, School of Economics and Management.
  17. Kaminski, Marek M., 2006. "Parametric rationing methods," Games and Economic Behavior, Elsevier, vol. 54(1), pages 115-133, January.
  18. repec:ner:tilbur:urn:nbn:nl:ui:12-194180 is not listed on IDEAS
  19. Young, H. P., 1988. "Distributive justice in taxation," Journal of Economic Theory, Elsevier, vol. 44(2), pages 321-335, April.
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