impatience and a risk aversion; i) the above decompositions span a third decomposition; if there exists a sure asset (to be …

partial, is possible. We search for incentive-constrained efficient allocation rules that display fairness properties …

group of agents. Fairness requires that each agent weakly prefers his consumption bundle to any other agent’s bundle. Under … fairness, efficiency is equivalent to budget-balance (all the available money is allocated among the agents). Budget …-balance and fairness in general are incompatible with non-manipulability (Green and Laffont, 1979). We propose a new notion of the …