A Sequential Allocation Problem: The Asymptotic Distribution of Resources

Osório, António (António Miguel)

Working Papers from Universitat Rovira i Virgili, Department of Economics

Abstract: In this paper, we consider a sequential allocation problem with n individuals. The first individual can consume any amount of a resource, leaving the remainder for the second individual, and so on. Motivated by the limitations associated with the cooperative or non-cooperative solutions, we propose a new approach from basic definitions of representativeness and equal treatment. The result is a unique asymptotic allocation rule for any number of individuals. We show that it satisfies a set of desirable properties. Keywords: Sequential allocation rule, River sharing problem, Cooperative and non-cooperative games, Dictator and ultimatum games. JEL classification: C79, D63, D74.

Keywords: Jocs; Teoria de; Distribució asimptòtica (Teoria de la probabilitat); Decisió; Presa de (Estadística); 33 - Economia (search for similar items in EconPapers)
Date: 2016
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