Non-Manipulable Division Rules in Claim Problems and Generalizations

Biung-Ghi Ju (), Eiichi Miyagawa and Toyotaka Sakai ()

No 200307, WORKING PAPERS SERIES IN THEORETICAL AND APPLIED ECONOMICS from University of Kansas, Department of Economics

Abstract: This paper studies the problem of allocating divisible resources among agents based on their characteristics. A simple example is the bankruptcy problem, which allocates the liquidation value of a bankrupted firm to creditors based on their claims. By allowing agents' characteristics to be multi-dimensional and varying the meaning of variables in the model, our model subsumes a number of existing and new alloca- tion problems, such as the problems of cost sharing, social choice under transferable utilities, income redistribution, bankruptcy with multiple assets, probability updat- ing, and probability aggregation. We characterize allocation rules under which no group of agents can increase the total amount they receive by transferring their characteristics within the group. A number of existing and new results in specific problems are obtained as corollaries.

Keywords: Reallocation-proofness; proportional rule; no advantageous reallocation; manipulation via merging or splitting. (search for similar items in EconPapers)
JEL-codes: C71 D30 D63 D71 H26 (search for similar items in EconPapers)
Date: 2003-12, Revised 2005-08
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Forthcoming in Journal of Economic Theory

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Related works:
Journal Article: Non-manipulable division rules in claim problems and generalizations (2007)
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