Fair and Efficient Lotteries over Indivisible Goods

Christian Basteck

VfS Annual Conference 2014 (Hamburg): Evidence-based Economic Policy from Verein für Socialpolitik / German Economic Association

Abstract: We study the problem of assigning indivisible goods to individuals where each is to receive one object. To guarantee fairness in the absence of monetary compensation, we consider random assignments and analyse various equity criteria for such lotteries. In particular, we find that sd-no-envy (as championed by the Probabilistic Serial) is incompatible with the sd-core from equal division. As an alternative, we present a Walrasian mechanism, whose outcomes are sd-efficient, group sd-envy-free, lie in the sd-core from equal division and satisfy the sd-equal-division-lower-bound.

JEL-codes: C70 D50 D63 (search for similar items in EconPapers)
Date: 2014
New Economics Papers: this item is included in nep-gth
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Persistent link: https://EconPapers.repec.org/RePEc:zbw:vfsc14:100517

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