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Dividing By Demanding: Object Division Through Market Procedures

Author

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  • CLAUS-JOCHEN HAAKE

    (Department of Economics, University of Paderborn, Warburger Str. 100, 33098 Paderborn, Germany)

Abstract

We discuss a model, in which two agents may distribute finitely many objects among themselves. The conflict is resolved by means of a market procedure. Depending on the specifications, this procedure serves to achieve bargaining solutions such as the discrete Raiffa solution, the Kalai-Smorodinsky solution and the Perles-Maschler solution. The latter is axiomatized using the superadditivity axiom, which in the present context is readily interpreted as resolving a specific source of conflict potential.

Suggested Citation

  • Claus-Jochen Haake, 2009. "Dividing By Demanding: Object Division Through Market Procedures," International Game Theory Review (IGTR), World Scientific Publishing Co. Pte. Ltd., vol. 11(01), pages 15-32.
    • Handle: RePEc:wsi:igtrxx:v:11:y:2009:i:01:n:s0219198909002121
    DOI: 10.1142/S0219198909002121
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    References listed on IDEAS

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    1. Trockel, Walter, 2011. "An axiomatization of the sequential Raiffa solution," Center for Mathematical Economics Working Papers 425, Center for Mathematical Economics, Bielefeld University.
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    Cited by:

    1. Ephraim Zehavi & Amir Leshem, 2018. "On the Allocation of Multiple Divisible Assets to Players with Different Utilities," Computational Economics, Springer;Society for Computational Economics, vol. 52(1), pages 253-274, June.

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    More about this item

    Keywords

    Object division; market procedure; Perles-Maschler solution; C78; C62; D51; D63;
    All these keywords.

    JEL classification:

    • B4 - Schools of Economic Thought and Methodology - - Economic Methodology
    • C0 - Mathematical and Quantitative Methods - - General
    • C6 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling
    • C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
    • D5 - Microeconomics - - General Equilibrium and Disequilibrium
    • D7 - Microeconomics - - Analysis of Collective Decision-Making
    • M2 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Economics

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