Competitive fair division.
Several indivisible goods are to be divided among two or more players, whose bids for the goods determine their prices. An equitable assignment of the goods at competitive prices is given by a fair-division procedure, called the Gap Procedure, that ensures (1) nonnegative prices that never exceed t...
| Published in: | Journal of Political Economy Vol. 109; no. 2; pp. 418 - 444 |
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| Main Authors: | , |
| Format: | Article |
| Published: |
University of Chicago Press
April 2001
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| Subjects: | |
| Online Access: | View this record in EBSCOhost |
| fields | @attributes: recordID: 1 pdfLink: plink: https://search.ebscohost.com/login.aspx?direct=true&db=ssf&AN=513086099&site=ehost-live header: @attributes: shortDbName: ssf uiTerm: 513086099 longDbName: Social Sciences Full Text (H.W. Wilson) uiTag: AN controlInfo: bkinfo: jinfo: jid: 00223808 JPE jtl: Journal of Political Economy issn: 00223808 maglogo: N pubinfo: dt: April 2001 vid: 109 iid: 2 pid: 415 pub: University of Chicago Press artinfo: ui: 513086099 10.1086/319550 ppf: 418 ppct: 26 formats: tig: atl: Competitive fair division. aug: au: Brams, Steven J. Kilgour, D. Marc su: Economics Indivisibles (Philosophy) Game theory Resource allocation -- Mathematical models Fairness sug: subj: Economics Indivisibles (Philosophy) Game theory Resource allocation -- Mathematical models Fairness keyword: Indivisible goods ab: Several indivisible goods are to be divided among two or more players, whose bids for the goods determine their prices. An equitable assignment of the goods at competitive prices is given by a fair-division procedure, called the Gap Procedure, that ensures (1) nonnegative prices that never exceed the bid of the player receiving the goods; (2) Pareto optimality, though coupled with possible envy; (3)monotonicity, such that higher bids never hurt in obtaining a good; (4) sincere bids that preclude negative utility; and (5) prices that are partially independent of the amounts bid (as in a Vickery auction). A variety of applications are discussed. Reprinted by permission of the publisher. pubtype: Academic Journal doctype: Article src: R language: English refInfo: copyright: @attributes: flag: N holdings: @attributes: islocal: N |
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