Rationing with Baselines: The Composition Extension Operator

Jens Hougaard (), Juan Moreno-Ternero and Lars Peter Østerdal

No 08_2012, MSAP Working Paper Series from University of Copenhagen, Department of Food and Resource Economics

Abstract: We introduce a new operator for general rationing problems in which, besides conflicting claims, individual baselines play an important role in the rationing process. The operator builds onto ideas of composition, which are not only frequent in rationing, but also in related problems such as bargaining, choice, and queuing. We characterize the operator and show how it preserves some standard axioms in the literature on rationing. We also relate it to recent contributions in such literature.

Keywords: rationing; baselines; claims; operator; composition (search for similar items in EconPapers)
JEL-codes: D63 (search for similar items in EconPapers)
Pages: 14 pages
Date: 2012-07
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Rationing with baselines: the composition extension operator (2013)
Working Paper: Rationing with baselines: the composition extension operator (2013)
Working Paper: Rationing with Baselines: The Composition Extension Operator (2013)
Working Paper: Rationing with baselines: The composition extension operator (2012)
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Persistent link: https://EconPapers.repec.org/RePEc:foi:msapwp:08_2012

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