Efficient Egalitarian Equivalent Allocations over a Single Good
This paper studies efficient and egalitarian allocations over a single heterogeneous and infinitely divisible good. We prove the existence of such allocations using only measure-theoretic arguments. Under the additional assumption of complete information, we identify a sufficient condition on agents’ preferences that makes it possible to apply the Pazner-Schmeidler rule for uniquely selecting an efficient egalitarian equivalent allocation. Finally, we exhibit a simple procedure that implements the Pazner-Schmeidler selection in a subgame-perfect equilibrium.
|Date of creation:||31 Oct 2005|
|Date of revision:|
|Note:||Type of Document - pdf; pages: 20. 20 pages, pdf, prepared from pdftex|
|Contact details of provider:|| Web page: http://econwpa.repec.org|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Miceli, Thomas J & Sirmans, C F, 2000. "Partition of Real Estate; or, Breaking Up Is (Not) Hard to Do," The Journal of Legal Studies, University of Chicago Press, vol. 29(2), pages 783-96, June.
- Berliant, Marcus & Dunz, Karl, 2004.
"A foundation of location theory: existence of equilibrium, the welfare theorems, and core,"
Journal of Mathematical Economics,
Elsevier, vol. 40(5), pages 593-618, August.
- Berliant, M.C. & Dunz, K., 1991. "A Foundation of Location Theory : Exstence of Equilibrium, the Welfare Theorems and Core," RCER Working Papers 298, University of Rochester - Center for Economic Research (RCER).
- Fabio Maccheroni & Fabio Maccheroni & Massimo Marinacci & Massimo Marinacci, 2003.
"How to cut a pizza fairly: Fair division with decreasing marginal evaluations,"
Social Choice and Welfare,
Springer;The Society for Social Choice and Welfare, vol. 20(3), pages 457-465, 06.
- Massimo Marinacci & Fabio Maccheroni, 2002. "How to cut a pizza fairly: fair division with descreasing marginal evaluations," ICER Working Papers - Applied Mathematics Series 23-2002, ICER - International Centre for Economic Research.
- Elisha A. Pazner & David Schmeidler, 1975.
"Egalitarian Equivalent Allocations: A New Concept of Economic Equity,"
174, Northwestern University, Center for Mathematical Studies in Economics and Management Science.
- Elisha A. Pazner & David Schmeidler, 1978. "Egalitarian Equivalent Allocations: A New Concept of Economic Equity," The Quarterly Journal of Economics, Oxford University Press, vol. 92(4), pages 671-687.
- Akin, Ethan, 1995. "Vilfredo Pareto cuts the cake," Journal of Mathematical Economics, Elsevier, vol. 24(1), pages 23-44.
- William Thomson, 2004.
RCER Working Papers
510, University of Rochester - Center for Economic Research (RCER).
- Weller, Dietrich, 1985. "Fair division of a measurable space," Journal of Mathematical Economics, Elsevier, vol. 14(1), pages 5-17, February.
- Berliant, Marcus & Thomson, William & Dunz, Karl, 1992. "On the fair division of a heterogeneous commodity," Journal of Mathematical Economics, Elsevier, vol. 21(3), pages 201-216.
- Demange, Gabrielle, 1984. "Implementing Efficient Egalitarian Equivalent Allocations," Econometrica, Econometric Society, vol. 52(5), pages 1167-77, September.
- Chambers, Christopher P., 2005. "Allocation rules for land division," Journal of Economic Theory, Elsevier, vol. 121(2), pages 236-258, April.
- Sprumont, Yves & Zhou, Lin, 1999. "Pazner-Schmeidler rules in large societies," Journal of Mathematical Economics, Elsevier, vol. 31(3), pages 321-339, April.
- Crawford, Vincent P, 1979. "A Procedure for Generating Pareto-Efficient Egalitarian-Equivalent Allocations," Econometrica, Econometric Society, vol. 47(1), pages 49-60, January.
When requesting a correction, please mention this item's handle: RePEc:wpa:wuwpmi:0510014. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (EconWPA)
If references are entirely missing, you can add them using this form.