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Even Allocations For Generalised Rationing Problems

  • Marco Mariotti

    (Royal Holloway)

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    We study an extension of the standard rationing problem, consisting of the allocation of utility losses. We assume neither linearly transferable utilities nor risk averse agents. As a consequence, the utility possibility sets need not be convex or smooth. This problem is referred to as the generalised rationing problem. We introduce the notion of even allocations as a solution concept that extends the random arrival rule to this general scenario. Moreover, we show that, when the feasible set is convex, this solution can be characterised by a suitable reformulation of the axioms that define the Nash bargaining solution.

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    File URL: http://www.ivie.es/downloads/docs/wpasad/wpasad-2003-10.pdf
    File Function: Fisrt version / Primera version, 2003
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    Paper provided by Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie) in its series Working Papers. Serie AD with number 2003-10.

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    Length: 19 pages
    Date of creation: Mar 2003
    Date of revision:
    Publication status: Published by Ivie
    Handle: RePEc:ivi:wpasad:2003-10
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    1. Herrero, Carmen & Villar, Antonio, 2001. "The three musketeers: four classical solutions to bankruptcy problems," Mathematical Social Sciences, Elsevier, vol. 42(3), pages 307-328, November.
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    8. Carmen Herrero Blanco, 1993. "Endogenous Reference Points And The Adjusted Proportional Solution For Bargaining Problems With Claims," Working Papers. Serie AD 1993-13, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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    10. repec:cup:cbooks:9780521424585 is not listed on IDEAS
    11. Barbera, Salvador & Dutta, Bhaskar & Sen, Arunava, 2005. "Corrigendum to "Strategy-proof social choice correspondences" [J. Econ. Theory 101 (2001) 374-394]," Journal of Economic Theory, Elsevier, vol. 120(2), pages 275-275, February.
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    13. Herve Moulin, 2004. "Fair Division and Collective Welfare," MIT Press Books, The MIT Press, edition 1, volume 1, number 0262633116, June.
    14. Vincenzo Denicolò & Marco Mariotti, 2000. "Nash Bargaining Theory, Nonconvex Problems and Social Welfare Orderings," Theory and Decision, Springer, vol. 48(4), pages 351-358, June.
    15. O'Neill, Barry, 1982. "A problem of rights arbitration from the Talmud," Mathematical Social Sciences, Elsevier, vol. 2(4), pages 345-371, June.
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    17. Nash, John, 1950. "The Bargaining Problem," Econometrica, Econometric Society, vol. 18(2), pages 155-162, April.
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