Fairness under Uncertainty with Indivisibilities

Róbert Veszteg

UFAE and IAE Working Papers from Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC)

Abstract: I analyze an economy with uncertainty in which a set of indivisible objects and a certain amount of money is to be distributed among agents. The set of intertemporally fair social choice functions based on envy-freeness and Pareto efficiency is characterized. I give a necessary and sufficient condition for its non-emptiness and propose a mechanism that implements the set of intertemporally fair allocations in Bayes-Nash equilibrium. Implementation at the ex ante stage is considered, too. I also generalize the existence result obtained with envy-freeness using a broader fairness concept, introducing the aspiration function.

Keywords: aspiration function; envy-free social choice function; fairness; implementation; indivisible goods; uncertainty (search for similar items in EconPapers)
JEL-codes: D39 D74 D81 D82 (search for similar items in EconPapers)
Pages: 30
Date: 2004-02-15
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Persistent link: https://EconPapers.repec.org/RePEc:aub:autbar:613.04

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