Please use this identifier to cite or link to this item: http://hdl.handle.net/2445/57170
Title: Rationing problems with payoff thresholds
Author: Timoner Lledó, Pere
Izquierdo Aznar, Josep Maria
Keywords: Racionament del consum
Igualtat
Fallida
Equilibri (Economia)
Competència econòmica
Rationing
Equality
Bankruptcy
Equilibrium (Economics)
Competition
Issue Date: 2014
Publisher: Universitat de Barcelona. Facultat d'Economia i Empresa
Abstract: An extension of the standard rationing model is introduced. Agents are not only identi fied by their respective claims over some amount of a scarce resource, but also by some payoff thresholds. These thresholds introduce exogenous differences among agents (full or partial priority, past allocations, past debts, ...) that may influence the final distribution. Within this framework we provide generalizations of the constrained equal awards rule and the constrained equal losses rule. We show that these generalized rules are dual from each other. We characterize the generalization of the equal awards rule by using the properties of consistency, path-independence and compensated exemption. Finally, we use the duality between rules to characterize the generalization of the equal losses solution.
Note: Reproducció del document publicat a: http://www.ub.edu/ubeconomics/e14311-rationing-problems-with-payoff-thresholds/
It is part of: UB Economics – Working Papers, 2014, E14/311
URI: http://hdl.handle.net/2445/57170
ISSN: 1136-8365
Appears in Collections:UB Economics – Working Papers [ERE]

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