A Sequential Allocation Problem: The Asymptotic Distribution of Resources

Antonio Osorio

MPRA Paper from University Library of Munich, Germany

Abstract: In this paper we consider a sequential allocation problem with n individuals. The first individual can consume any amount of some endowment leaving the remaining for the second individual, and so on. Motivated by the limitations associated with the cooperative or non-cooperative solutions we propose a new approach. We establish some axioms that should be satisfied, representativeness, impartiality, etc. The result is a unique asymptotic allocation rule. It is shown for n=2,3,4, and a claim is made for general n. We show that it satisfies a set of desirable properties.

Keywords: Sequential allocation rule; River sharing problem; Cooperative and non-cooperative games; Dictator and ultimatum games. (search for similar items in EconPapers)
JEL-codes: C79 D63 D74 (search for similar items in EconPapers)
Date: 2014-06-03
New Economics Papers: this item is included in nep-gth
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