The Characterisation of the Uniform Reallocation Rule Without Side Payments
Details
Serval ID
serval:BIB_1934B9465BB4
Type
A part of a book
Collection
Publications
Institution
Title
The Characterisation of the Uniform Reallocation Rule Without Side Payments
Title of the book
Game Theoretical Applications to Economics and Operations Research
Publisher
Kluwer-Academic Publishers
Address of publication
Dordrecht, The Netherlands
ISBN
0-7923-4712-9
978-1-4757-2640-4
978-1-4757-2640-4
Publication state
Published
Issued date
1997
Editor
Parthasarathy T., Dutta B., Potters J.A.M., Raghavan T.E.S., Ray D., Sen A.
Volume
18
Series
Theory and Decision Library: Series C: Game Theory, Mathematical Programming and Operations Research
Chapter
5
Pages
239-255
Language
english
Abstract
We consider the problem of reallocating the total endowment of an infinitely divisible commodity among agents with single-peaked preferences and study several properties of reallocation rules such as individual rationality, endowment monotonicity, no-envy, and bilateral consistency. Our main result is the proof that individual rationality and endowment monotonicity imply Pareto optimality. This result is used to provide two characterizations of the uniform reallocation rule. The first characterization states that the uniform reallocation rule is the unique reallocation rule satisfying individual rationality, endowment monotonicity, and no-envy. In the second characterization, no-envy is replaced by bilateral consistency.
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Create date
26/05/2010 14:43
Last modification date
20/08/2019 12:49