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Consistency and its Converse: an Introduction

William Thomson

RCER Working Papers from University of Rochester - Center for Economic Research (RCER)

Abstract: This essay is an introduction to the recent literature on the "consistency principle" and its "converse". An allocation rule is consistent if for any problem in its domain of definition and any alternative that it selects for it, then for the associated "reduced problem" obtained by imagining the departure of any subgroup of the agents with their "components of the alternative" and reassessing the options open to that subgroup.

Keywords: CONSISTENCY; ECONOMICS; THEORY (search for similar items in EconPapers)
JEL-codes: D00 (search for similar items in EconPapers)
Date: 1998
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