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Rationing : dynamic considerations, equivalent sacrifice and links between the two approaches

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  • T. MARCHANT

Abstract

Suppose a quantity t of a given resource is divided among two agents. If an additional quantity becomes available, how shall we share it among the agents ? By looking at the way we can share this increment (or decrement), it is possible to derive some existing rationing methods but also some new ones. Three new methods seem particularly interesting. They can also be derived following an Equivalent Sacrifice approach.

Suggested Citation

  • T. Marchant, 2004. "Rationing : dynamic considerations, equivalent sacrifice and links between the two approaches," Working Papers of Faculty of Economics and Business Administration, Ghent University, Belgium 04/244, Ghent University, Faculty of Economics and Business Administration.
    • Handle: RePEc:rug:rugwps:04/244
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    File URL: http://wps-feb.ugent.be/Papers/wp_04_244.pdf
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    References listed on IDEAS

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    1. H. Peyton Young, 1987. "On Dividing an Amount According to Individual Claims or Liabilities," Mathematics of Operations Research, INFORMS, vol. 12(3), pages 398-414, August.
    2. Moulin, Herve, 2002. "Axiomatic cost and surplus sharing," Handbook of Social Choice and Welfare, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 1, chapter 6, pages 289-357, Elsevier.
    3. Thomson, William, 2003. "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: a survey," Mathematical Social Sciences, Elsevier, vol. 45(3), pages 249-297, July.
    4. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
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    Cited by:

    1. Thomson, William, 2015. "Axiomatic and game-theoretic analysis of bankruptcy and taxation problems: An update," Mathematical Social Sciences, Elsevier, vol. 74(C), pages 41-59.
    2. Thierry Marchant, 2008. "Scale invariance and similar invariance conditions for bankruptcy problems," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 31(4), pages 709-710, December.

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