Browsing by Subject "Fair division"
Now showing 1 - 3 of 3
Results Per Page
Sort Options
Item Open Access Implementing egalitarianism in a class of Nash demand games(Springer, 2018) Karagözoğlu, Emin; Rachmilevitch, S.We add a stage to Nash’s demand game by allowing the greedier player to revise his demand if the demands are not jointly feasible. If he decides to stick to his initial demand, then the game ends and no one receives anything. If he decides to revise it down to 1 - x, where x is his initial demand, the revised demand is implemented with certainty. The implementation probability changes linearly between these two extreme cases. We derive a condition on the feasible set under which the two-stage game has a unique subgame perfect equilibrium. In this equilibrium, there is first-stage agreement on the egalitarian demands. We also study two n-player versions of the game. In either version, if the underlying bargaining problem is “divide-the-dollar,” then equal division is sustainable in a subgame perfect equilibrium if and only if the number of players is at most four.Item Open Access A theory of a heterogeneous divisible commodity exchange economy(Elsevier BV, 2011) Husseinov, F.In theoretical land economics the existence of a competitive equilibrium with an additive price is considered problematic. This paper studies the exchange and allocation of a heterogeneous divisible commodity such as land, which is modeled as a measurable space. In a 'land' trading economy with unordered convex preferences, the existence of a competitive equilibrium with an additive equilibrium price is proved. This paper demonstrates also the existence of a weak core and a fair allocation. (C) 2010 Elsevier B.V. All rights reserved.Item Open Access α-maxmin solutions to fair division problems and the structure of the set of Pareto utility profiles(Elsevier B.V., 2009) Hüsseinov, F.A simple proof of the equivalence of Pareto optimality plus positiveness and α-maxmin optimality, dispensing with the assumption of closedness of the utility possibility set, is given. Also the structure of the set of Pareto optimal utility profiles is studied. © 2008 Elsevier B.V. All rights reserved.