Even allocations for generalised rationing problems

• Autores: Marco Mariotti, Antonio Villar
• Localización: Working papers = Documentos de trabajo: Serie AD, Nº. 10, 2003, 19 págs.
• Idioma: inglés
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• Resumen

  • We study an extension of the standard rationing problem, consisting of the allocation of utility losses. We assume neither linearly transferable utilities nor risk averse agents. As a consequence, the utility possibility sets need not be convex or smooth. This problem is referred to as the generalised rationing problem. We introduce the notion of even allocations as a solution concept that extends the random arrival rule to this general scenario. Moreover, we show that, when the feasible set is convex, this solution can be characterised by a suitable reformulation of the axioms that define the Nash bargaining solution.