Trade-off between equity and efficiency in a general economy with indivisible goods

Koichi Tadenuma
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Koichi Tadenuma: Department of Economics, Hitotsubashi University, 2-1 Naka, Kunitachi, Tokyo 186, Japan

Social Choice and Welfare, 1996, vol. 13, issue 4, 445-450

Abstract: In most of the recent literature on fair allocation in economies with indivisible goods and a single infinitely divisible good, it is assumed that each agent can consume at most one indivisible good. In this paper, we show that if this assumption is dropped, there do not necessarily exist envy-free and Pareto efficient allocations. However, envy-free allocations still exist and so do Pareto efficient allocations. Hence, a trade-off between equity and efficiency arises.

Date: 1996
Note: Received: 17 February 1995/Accepted: 16 June 1995
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