We address the problem of allocating indivisible goods and some amount of an infinitely divisible good among agents with equal rights on these resources. Our specific objective is to investigate the implications of the following requirement on allocation rules : when the preferences of some of...

This paper analyzes the extent of risk-sharing among stockholders. To provide a benchmark, we ask if stockholders are able to share risk more effectively than non-stockholders, where the latter serves as a control group. We study a dynamic structural model where each period households compare...