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Rationing in the presence of baselines

  • Jens L. Hougaard

    ()

    (Department of Food and Resource Economics, University of Copenhagen)

  • Juan D. Moreno-Ternero

    ()

    (Department of Economics, Universidad Pablo de Olavide; CORE, Université catholique de Louvain)

  • Lars P. Osterdal

    ()

    (Department of Business and Economics, University of Southern Denmark)

We analyze a general model of rationing in which agents have baselines, in addition to claims against the (insufficient) endowment of the good to be allocated. Many real-life problems fit this general model (e.g., bankruptcy with prioritized claims, resource allocation in the public health care sector, water distribution in drought periods). We introduce (and characterize) a natural class of allocation methods for this model. Any method within the class is associated with a rule in the standard rationing model, and we show that if the latter obeys some focal properties, the former obeys them too.

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File URL: http://www.upo.es/serv/bib/wps/econ1204.pdf
File Function: First version, 2012
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Paper provided by Universidad Pablo de Olavide, Department of Economics in its series Working Papers with number 12.04.

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Length: 23 pages
Date of creation: Sep 2012
Date of revision:
Handle: RePEc:pab:wpaper:12.04
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  1. 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).
  2. Juan D. Moreno-Ternero, 2009. "The proportional rule for multi-issue bankruptcy problems," Economics Bulletin, AccessEcon, vol. 29(1), pages 474-481.
  3. Jens L. Hougaard & Juan D. Moreno-Ternero & Lars P. Østerdal, 2011. "A Unifying Framework for the Problem of Adjudicating Conflicting Claims," Discussion Papers 11-03, University of Copenhagen. Department of Economics.
  4. 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, Tilburg University, School of Economics and Management.
  5. Youngsub Chun, 1999. "Equivalence of axioms for bankruptcy problems," International Journal of Game Theory, Springer, vol. 28(4), pages 511-520.
  6. Toru Hokari & William Thomson, 2003. "Claims problems and weighted generalizations of the Talmud rule," Economic Theory, Springer, vol. 21(2), pages 241-261, 03.
  7. Aumann, Robert J. & Maschler, Michael, 1985. "Game theoretic analysis of a bankruptcy problem from the Talmud," Journal of Economic Theory, Elsevier, vol. 36(2), pages 195-213, August.
  8. 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.
  9. 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.
  10. MORENO-TERNERO, Juan D. & VILLAR, Antonio, . "The TAL-family or rules for bankruptcy problems," CORE Discussion Papers RP -1897, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  11. Marc Fleurbaey & John Roemer, 2010. "Judicial Precedent as a Dynamic Rationale for Axiomatic Bargaining Theory," NajEcon Working Paper Reviews 814577000000000442, www.najecon.org.
  12. Biung-Ghi Ju & Juan D. Moreno-Ternero, 2009. "Progressive and merging-proof taxation," Working Papers 2009-7, Universidad de Málaga, Department of Economic Theory, Málaga Economic Theory Research Center.
  13. William Thomson & Chun-Hsien Yeh, 2006. "Operators for the adjudication of conflicting claims," RCER Working Papers 531, University of Rochester - Center for Economic Research (RCER).
  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. Nir Dagan, 1996. "New characterizations of old bankruptcy rules," Social Choice and Welfare, Springer, vol. 13(1), pages 51-59, January.
  16. Hervé Moulin, 2000. "Priority Rules and Other Asymmetric Rationing Methods," Econometrica, Econometric Society, vol. 68(3), pages 643-684, May.
  17. Juan de Dios Moreno Ternero & Antonio Villar Notario, 2003. "The Talmud Rule And The Securement Of Agents? Awards," Working Papers. Serie AD 2003-05, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
  18. Thomson, William, 1994. "Cooperative models of bargaining," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 2, chapter 35, pages 1237-1284 Elsevier.
  19. repec:dgr:uvatin:20080026 is not listed on IDEAS
  20. 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.
  21. Kaminski, Marek M., 2006. "Parametric rationing methods," Games and Economic Behavior, Elsevier, vol. 54(1), pages 115-133, January.
  22. 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).
  23. Youngsub Chun, 1999. "Equivalence of Axioms for Bankruptcy Problems," Working Paper Series no1, Institute of Economic Research, Seoul National University.
  24. Diego Dominguez & William Thomson, 2006. "A new solution to the problem of adjudicating conflicting claims," Economic Theory, Springer, vol. 28(2), pages 283-307, 06.
  25. repec:ner:tilbur:urn:nbn:nl:ui:12-194180 is not listed on IDEAS
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