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Allocating multiple estates among agents with single-peaked preferences
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Kar, Anirban and Kibris, Oezguer (2008) Allocating multiple estates among agents with single-peaked preferences. Social Choice and Welfare, Vol.31 (No.4). pp. 641-666. doi:10.1007/s00355-008-0301-4 ISSN 0176-1714.
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Official URL: http://dx.doi.org/10.1007/s00355-008-0301-4
Abstract
We consider the problem of allocating multiple social endowments (estates) of a perfectly divisible commodity among a group of agents with single-peaked preferences when each agent's share can come from at most one estate. We inquire if well-known single-estate rules, such as the Uniform rule, the Proportional rule or the fixed-path rules can be coupled with a matching rule so as to achieve efficiency in the multi-estate level. On the class of problems where all agents have symmetric preferences, any efficient single-estate rule can be extended to an efficient multi-estate rule. If we allow asymmetric preferences however, this is no more the case. For nondictatorial single-estate rules that satisfy efficiency, strategy proof-ness, consistency, and resource monotonicity, an efficient extension to multiple estates is impossible. A similar impossibility also holds for single-estate rules that satisfy efficiency, peak-only, and a weak fairness property.
Item Type: | Journal Article | ||||
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Subjects: | H Social Sciences > HG Finance | ||||
Divisions: | Faculty of Social Sciences > Economics | ||||
Library of Congress Subject Headings (LCSH): | Administration of estates -- Mathematical models, Equality -- Economic aspects, Asset allocation -- Mathematical models | ||||
Journal or Publication Title: | Social Choice and Welfare | ||||
Publisher: | Springer | ||||
ISSN: | 0176-1714 | ||||
Official Date: | December 2008 | ||||
Dates: |
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Volume: | Vol.31 | ||||
Number: | No.4 | ||||
Number of Pages: | 26 | ||||
Page Range: | pp. 641-666 | ||||
DOI: | 10.1007/s00355-008-0301-4 | ||||
Status: | Peer Reviewed | ||||
Publication Status: | Published | ||||
Access rights to Published version: | Restricted or Subscription Access |
Data sourced from Thomson Reuters' Web of Knowledge
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