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We characterize the set of strategy-proof social choice functions (SCFs), the outcome of which are multiple public goods. The set of feasible alternatives is a subset of a product set with a finite number of elements. We do not require the SCFs to be ‘onto’, but instead impose the weaker...
Persistent link: https://www.econbiz.de/10005645176
A fair division problem with indivisible objects, e.g. jobs, and one divisible good (money) is considered. The individuals consume one object and money. The class of strategy-proof and fair allocation rules is characterized. The allocation rules in the class are like a Vickrey auction bossy and...
Persistent link: https://www.econbiz.de/10005645228
Persistent link: https://www.econbiz.de/10005596401
We extend the Shapley-Scarf (1974) model - where a finite number of indivisible objects is to be allocated among a finite number of individuals - to the case where the primary endowment set of an individual may contain none, one, or several objects and where property rights may be transferred...
Persistent link: https://www.econbiz.de/10005596554
Strategy-proof allocation of a finite number of indivisible goods among a finite number of individuals is considered. The main result is that in a pure distributional case, a mechanism is strategy-proof, nonbossy and neutral if and only if it is serially dictatorial. If the indivisible goods are...
Persistent link: https://www.econbiz.de/10005752977
A model of occupational choice is considered. Due to incomplete and asymmetric information, various individuals have different sets of choice. Conceivable definitions of fair wages are discussed and analyzed. Existence of a fair wage structure is proved in a formal model where occupation is...
Persistent link: https://www.econbiz.de/10005218964
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Consistency between Pareto optimality and no envy requires some assumptions on the structure of the set of Pareto optimal allocations. Here the author proves that sigma-optimality--a concept first introduced by D. Campbell in his 1988 paper--is a sufficient condition. Campbell proved the...
Persistent link: https://www.econbiz.de/10005230587
Persistent link: https://www.econbiz.de/10005231491
The concept of a lower bound on optimal linear taxes is analyzed. A marginal tax rate is defined to be optimal if the corresponding state of the economy is a welfare maximum for some social welfare function reflecting at least a minimal aversion to inequality. The lower bound on optimal tax...
Persistent link: https://www.econbiz.de/10005305828