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Two Derivations of the Uniform Rule and an Application to Bankruptcy

Author

Listed:
  • Schummer, J.
  • Thomson, W.

Abstract

We consider the problem of allocating a single infinitely divisible commodity to agents with single-peaked preferences, and establish two properties of the rule that has played the central role in the analysis of this problem, the uniform role. Among the efficient allocations, it selects (1) the one at which the difference between the largest amount received by any agent and the smallest sush amount is minimal, and (2) the one at which the variance of the amounts received by the agents is minimal.

Suggested Citation

  • Schummer, J. & Thomson, W., 1996. "Two Derivations of the Uniform Rule and an Application to Bankruptcy," RCER Working Papers 423, University of Rochester - Center for Economic Research (RCER).
    • Handle: RePEc:roc:rocher:423
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    Keywords

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    JEL classification:

    • D51 - Microeconomics - - General Equilibrium and Disequilibrium - - - Exchange and Production Economies
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General

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