A New Solution to the Problem of Adjudicating Conflicting Claims
Diego Dominguez () and
No 511, RCER Working Papers from University of Rochester - Center for Economic Research (RCER)
For the problem of adjudicating conflicting claims, we consider the requirement that each agent should receive at least 1/n his claim truncated at the amount to divide, where n is the number of claimants (Moreno-Ternero and Villar, 2004a). We identify two families of rules satisfying this bound. We then formulate the requirement that for each problem, the awards vector should be obtainable in two equivalent ways, (i) directly or (ii) in two steps, first assigning to each claimant his lower bound and then applying the rule to the appropriately revised problem. We show that there is only one rule satisfying this requirement. We name it the "recursive rule", as it is obtained by a recursion. We then undertake a systematic investigation of the properties of the rule.
Keywords: claims problems; recursive rule. (search for similar items in EconPapers)
JEL-codes: C79 D63 D74 (search for similar items in EconPapers)
Pages: 34 pages
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Journal Article: A new solution to the problem of adjudicating conflicting claims (2006)
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Persistent link: https://EconPapers.repec.org/RePEc:roc:rocher:511
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