From the bankruptcy problem and its Concede-and-Divide solution to the assignment problem and its Fair Division solution
Christian Trudeau
Games and Economic Behavior, 2018, vol. 108, issue C, 225-238
Abstract:
We revisit two classic problems: the assignment problem, in which matched pairs of agents create value, and the bankruptcy problem, in which we need to share an endowment among agents with conflicting claims. Since Core Selection constrains us to exactly divide the value created by matched agents, the assignment problem corresponds to multiple two-player bankruptcy problems. From this we obtain equivalence between the Concede-and-Divide (Aumann and Maschler, 1985) sharing method for the bankruptcy problem and the Fair Division solution (Thompson, 1981) for the assignment problem.
Keywords: Assignment problems; Bankruptcy problems; Core; Fair division; Concede-and-divide; Minimal rights (search for similar items in EconPapers)
JEL-codes: C71 D63 (search for similar items in EconPapers)
Date: 2018
References: View references in EconPapers View complete reference list from CitEc
Citations:
Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0899825617301537
Full text for ScienceDirect subscribers only
Related works:
Working Paper: From the bankruptcy problem and its Concede-and-Divide solution to the assignment problem and its Fair Division solution (2015) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:108:y:2018:i:c:p:225-238
DOI: 10.1016/j.geb.2017.09.005
Access Statistics for this article
Games and Economic Behavior is currently edited by E. Kalai
More articles in Games and Economic Behavior from Elsevier
Bibliographic data for series maintained by Catherine Liu ().