- Single-Peaked Preferences With Several Commodities
We consider the problem of allocating m(m>=2) infinitely divisible commodities among agents with single-peaked preferences. In the two-agents case any strategy-proof and efficient solution is dictatorial. First, we propose a solution that, in the two-agents case, is the only one that satisfies strategy-proofness, no-envy and a weak requirement related to efficiency. Moreover, it is implementable in dominant strategies and satisfies consistency properties. Second, we propose an extension of the Mas-Colells Walrasian equilibrium with slack to characterize the efficient allocations.This new solution allow us to associate with each efficient allocation an income redistribution necessary to obtain it. We prove that the original solution proposed by Mas-Colell is the efficient selection which requires an income redistribution with smallest range, and that it satisfies consistency properties.
|Date of creation:||Oct 1998|
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- Schummer, J. & Thomson, W., 1996.
"Two Derivations of the Uniform Rule and an Application to Bankruptcy,"
RCER Working Papers
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"Population-Monotonic Solutions to the Problem of Fair Division When Preferences Are Single-Peaked,"
Springer;Society for the Advancement of Economic Theory (SAET), vol. 5(2), pages 229-46, March.
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Economic theory and game theory
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"Strategy-Proof Voting on Compact Ranges,"
UFAE and IAE Working Papers
358.96, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
- Lin Zhou, 1991. "Impossibility of Strategy-Proof Mechanisms in Economies with Pure Public Goods," Review of Economic Studies, Oxford University Press, vol. 58(1), pages 107-119.
- Thomson, W., 1991. "Resource-Monotonic Solutions to the Problem of Fair Divosion when Preferences are Single-Peaked ," RCER Working Papers 301, University of Rochester - Center for Economic Research (RCER).
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- Thomson William, 1994. "Consistent Solutions to the Problem of Fair Division When Preferences Are Single-Peaked," Journal of Economic Theory, Elsevier, vol. 63(2), pages 219-245, August.
- Mark A. Satterthwaite & Hugo Sonnenschein, 1981. "Strategy-Proof Allocation Mechanisms at Differentiable Points," Review of Economic Studies, Oxford University Press, vol. 48(4), pages 587-597.
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