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Manipulation of Preferences and Relative Utilitarianism

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  • Sobel, Joel

Abstract

Given n agents with von Neumann-Morgenstern utility functions who wish to divide m commodities, consider the n-person noncooperative game with strategies consisting of concave, increasing von Neumann-Morgenstern utility functions, and whose outcomes are the relative utilitarian solution. It is shown that any constrained equal-income competitive equilibrium allocation for the true utilities is a Nash equilibrium outcome for the noncooperative game. Conditions are presented under which these are the only pure strategy equilibrium outcomes.

Suggested Citation

  • Sobel, Joel, 1998. "Manipulation of Preferences and Relative Utilitarianism," University of California at San Diego, Economics Working Paper Series qt1x32m32n, Department of Economics, UC San Diego.
    • Handle: RePEc:cdl:ucsdec:qt1x32m32n
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    Cited by:

    1. Ju, Biung-Ghi, 2005. "Strategy-proof risk sharing," Games and Economic Behavior, Elsevier, vol. 50(2), pages 225-254, February.

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    Keywords

    utility functions;

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