An iterative allocation mechanism in the edgeworth box

Nejat Anbarci () and Gyoseob Yi

International Advances in Economic Research, 1998, vol. 4, issue 3, 253-258

Abstract: This paper considers an iterative allocation mechanism which resolves the problem of multiplicity of allocations given by a mechanism in commodity space. At each stage, the average of the extreme allocations is taken and used as the starting point of the next stage. As long as the mechanism is individually rational and Pareto optimal, this iterative procedure yields a unique final allocation which is also individually rational and Pareto optimal. (JEL C63, C71) Copyright International Atlantic Economic Society 1998

Date: 1998
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DOI: 10.1007/BF02294894

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