Refinements of the no-envy solution in economies with indivisible goods |
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Authors: | Koichi Tadenuma William Thomson |
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Institution: | (1) Department of Economics, Hitotsubashi University, 2-1 Naka, Kunitachi, 186 Tokyo, Japan;(2) Department of Economics, University of Rochester, 14627 Rochester, NY, U.S.A. |
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Abstract: | We consider the problem of fair allocation in economies with indivisible goods. Our primary concept is that of an envy-free allocation, that is, an allocation such that no agent would prefer anyone else's bundle to his own. Since there typically is a large set (a continuum) of such allocations, the need arises to identify well-behaved selections from the no-envy solution. First we establish the non-existence of population monotonic selections. Then we propose a variety of selections motivated by intuitive considerations of fairness. |
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Keywords: | Classification numbers: D30 D51 D60 D61 D63 D71 |
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