Axiomatic Characterization of Solutions for Rationing Problems

Somdeb Lahiri

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

Abstract: Situations abound in the real world, where aggregate demand for a commodity exceeds aggregate supply. When such situations of excess demand occur, what is required is some kind of rationing. The literature on rationing problems has an interesting origin in the Babylonian Talmud. The purpose of this paper is to characterize axiomatically and analyze some Talmudic Solutions for rationing problems.

Date: 1996-12-01
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Persistent link: https://EconPapers.repec.org/RePEc:iim:iimawp:wp01421

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