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Cooperative models for allocating an object

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  • Fragnelli, Vito
  • Gagliardo, Stefano

Abstract

This paper starts from a classical fair division situation of allocating an object among a set of agents. The problem is studied from both a cooperative and a bankruptcy point of view, analyzing the fairness properties of the proposed solutions.

Suggested Citation

  • Fragnelli, Vito & Gagliardo, Stefano, 2012. "Cooperative models for allocating an object," Economics Letters, Elsevier, vol. 117(1), pages 227-229.
    • Handle: RePEc:eee:ecolet:v:117:y:2012:i:1:p:227-229
    DOI: 10.1016/j.econlet.2012.05.014
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    References listed on IDEAS

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    4. ,, 2001. "Problems And Solutions," Econometric Theory, Cambridge University Press, vol. 17(5), pages 1025-1031, October.
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    6. Graham, Daniel A & Marshall, Robert C & Richard, Jean-Francois, 1990. "Differential Payments within a Bidder Coalition and the Shapley Value," American Economic Review, American Economic Association, vol. 80(3), pages 493-510, June.
    7. 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.
    8. Herrero, Carmen & Villar, Antonio, 2001. "The three musketeers: four classical solutions to bankruptcy problems," Mathematical Social Sciences, Elsevier, vol. 42(3), pages 307-328, November.
    9. S. C. Littlechild & G. Owen, 1973. "A Simple Expression for the Shapley Value in a Special Case," Management Science, INFORMS, vol. 20(3), pages 370-372, November.
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    Cited by:

    1. Moreno-Ternero, Juan D., 2013. "A new analysis of a simple model of fair allocation," Economics Letters, Elsevier, vol. 118(2), pages 393-395.

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    More about this item

    Keywords

    Knaster procedure; Bankruptcy problems; Cooperative games;
    All these keywords.

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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