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E14-311_Timoner.pdf (471.52 KB)

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Working paper

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2014

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cc-by-nc-nd, (c) Timoner et al., 2014
Please use this identifier to cite or link to this item: https://hdl.handle.net/2445/57170

Rationing problems with payoff thresholds

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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.

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Racionament del consum, Igualtat, Fallida, Equilibri (Economia), Competència econòmica

Subject (English)

Rationing, Equality, Bankruptcy, Equilibrium (Economics), Competition

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UB Economics – Working Papers [ERE]
Documents de treball (Matemàtica Econòmica, Financera i Actuarial)

Citation

TIMONER LLEDÓ, Pere and IZQUIERDO AZNAR, Josep Maria. Rationing problems with payoff thresholds. UB Economics – Working Papers. 2014. Vol.  E14/311. ISSN 1136-8365. [consulted: 13 of June of 2026]. Available at: https://hdl.handle.net/2445/57170

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