Fair Allocations and Distortion of Utilities: A Note

Somdeb Lahiri

IIMA Working Papers from Indian Institute of Management Ahmedabad, Research and Publication Department

Abstract: Given two agents with von Neumann-Morgenstern utilities who wish to divide n commodities, consider the two-person non-cooperative game with strategies consisting of concave, increasing von Neumann-Morgenstern utility functions and whose outcomes are fair allocations to the commodity division problem determined by the strategies used. It is shown that any equal income competitive equilibrium allocation for the true utilities is a Nash equilibrium outcome for the non-cooperative game.

Date: 1989-01-01
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Persistent link: https://EconPapers.repec.org/RePEc:iim:iimawp:wp00858

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