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A new analysis of a simple model of fair allocation

  • Juan D. Moreno-Ternero

    ()

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

In a recent article, Fragnelli and Gagliardo [Cooperative models for allocating an object, Economics Letters 117 (2012) 227-229] propose several procedures to solve a basic problem of fair allocation. We scrutinize their proposal and contextualize it into recent developments of the literature on bankruptcy problems. Our analysis supports two of the procedures they propose; namely, the Shapley and Talmud rules.

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File URL: http://www.upo.es/serv/bib/wps/econ1210.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 12.10.

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Length: 15 pages
Date of creation: Dec 2012
Date of revision:
Handle: RePEc:pab:wpaper::12.10
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  1. Youngsub Chun, 1999. "Equivalence of Axioms for Bankruptcy Problems," Working Paper Series no1, Institute of Economic Research, Seoul National University.
  2. Juan Moreno-Ternero & Antonio Villar, 2006. "New characterizations of a classical bankruptcy rule," Review of Economic Design, Springer, vol. 10(2), pages 73-84, August.
  3. Moreno-Ternero, Juan D. & Villar, Antonio, 2004. "The Talmud rule and the securement of agents' awards," Mathematical Social Sciences, Elsevier, vol. 47(2), pages 245-257, March.
  4. MORENO-TERNERO, Juan D. & ROEMER, John E., . "Impartiality, priority, and solidarity in the theory of justice," CORE Discussion Papers RP -1896, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  5. William Thomson, 2007. "Cost allocation and airport problems," RCER Working Papers 537, University of Rochester - Center for Economic Research (RCER).
  6. Moulin, Herve, 1991. "Welfare bounds in the fair division problem," Journal of Economic Theory, Elsevier, vol. 54(2), pages 321-337, August.
  7. HOUGAARD, Jens L. & MORENO-TERNERO, Juan D. & OSTERDAL, Lars P., 2011. "A unifying framework for the problem of adjudicating conflicting claims," CORE Discussion Papers 2011071, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  8. 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.
  9. 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.
  10. Fragnelli, Vito & Gagliardo, Stefano, 2012. "Cooperative models for allocating an object," Economics Letters, Elsevier, vol. 117(1), pages 227-229.
  11. Youngsub Chun, 1999. "Equivalence of axioms for bankruptcy problems," International Journal of Game Theory, Springer, vol. 28(4), pages 511-520.
  12. 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.
  13. Robert Aumann, 2010. "Some non-superadditive games, and their Shapley values, in the Talmud," International Journal of Game Theory, Springer, vol. 39(1), pages 3-10, March.
  14. Gustavo Bergantiños & Luciano Méndez-Naya, 2001. "Additivity in bankruptcy problems and in allocation problems," Spanish Economic Review, Springer, vol. 3(3), pages 223-229.
  15. Moulin, Herve & Shenker, Scott, 1992. "Serial Cost Sharing," Econometrica, Econometric Society, vol. 60(5), pages 1009-37, September.
  16. Hu, Cheng-Cheng & Tsay, Min-Hung & Yeh, Chun-Hsien, 2012. "Axiomatic and strategic justifications for the constrained equal benefits rule in the airport problem," Games and Economic Behavior, Elsevier, vol. 75(1), pages 185-197.
  17. Young, H. P., 1988. "Distributive justice in taxation," Journal of Economic Theory, Elsevier, vol. 44(2), pages 321-335, April.
  18. Maniquet, Francois, 1996. "Allocation Rules for a Commonly Owned Technology: The Average Cost Lower Bound," Journal of Economic Theory, Elsevier, vol. 69(2), pages 490-507, May.
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