Resource allocations with guaranteed awards in claims problems

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Title: Resource allocations with guaranteed awards in claims problems
Authors: Giménez-Gómez, José-Manuel | Peris, Josep E. | Solís-Baltodano, María-José
Research Group/s: Desarrollo, Métodos Cuantitativos y Teoría Económica (DMCTE)
Center, Department or Service: Universidad de Alicante. Departamento de Fundamentos del Análisis Económico
Keywords: Claims problem | Guarantees | Lower bounds | Constrained equal awards rule | Ibn Ezra’s rule | Duality
Issue Date: 2-Sep-2022
Publisher: Springer Nature
Citation: Review of Economic Design. 2023, 27: 581-602. https://doi.org/10.1007/s10058-022-00310-w
Abstract: The notion of lower bound on awards has been introduced in the literature to analyze the establishment of guarantees that ensure a minimum award to each agent involved in situations of conflicting claims, such as the rationing of a resource or the distribution of the assets of a bankrupt firm. Indeed, this concept has a core role in many approaches related to the problem of fair allocation (Thomson in Math Soc Sci 74:41–59, 2015) and a range of such lower bounds have been proposed: the minimal right (Curiel et al. in Z Oper Res 31:A143–A159, 1987), the fair bound (Moulin in Handb Soc Choice Welf 1:289–357, 2002), securement (Moreno-Ternero and Villar in Math Soc Sci 47(2):245–257, 2004) and the min bound (Dominguez in mimeo, 2006). In this context, the key contribution of the current paper is to show that there is a correspondence between lower bounds and rules; i.e., associated to each particular lower bound, we find a specific way of distributing the resources. In doing so, we provide new characterizations for two well known rules, the constrained equal awards and Ibn Ezra’s rules. A dual analysis, by using upper bounds on awards will provide characterizations of the dual of the previously mentioned rules: the constrained equal losses rule and the dual of Ibn Ezra’s rule.
Sponsor: Open access funding provided by Universitat Rovira i Virgili. Financial support from Universitat Rovira i Virgili and Generalitat de Catalunya (2018PFR-URV-B2-53) and Ministerio de Economía y Competitividad (ECO2016-75410-P (AEI/FEDER, UE), ECO2017-86481-P (AEI/ FEDER, UE) and PID2020-119152GB-I00 (AEI/FEDER, UE)) is acknowledged.
URI: http://hdl.handle.net/10045/126419
ISSN: 1434-4742 (Print) | 1434-4750 (Online)
DOI: 10.1007/s10058-022-00310-w
Language: eng
Type: info:eu-repo/semantics/article
Rights: © The Author(s) 2022. Open Access This article is licensed under a Creative Commons Attribution 4.0 International License, which permits use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons licence, and indicate if changes were made. The images or other third party material in this article are included in the article’s Creative Commons licence, unless indicated otherwise in a credit line to the material. If material is not included in the article’s Creative Commons licence and your intended use is not permitted by statutory regulation or exceeds the permitted use, you will need to obtain permission directly from the copyright holder. To view a copy of this licence, visit http://creativecommons.org/licenses/by/4.0/.
Peer Review: si
Publisher version: https://doi.org/10.1007/s10058-022-00310-w
Appears in Collections:INV - DMCTE - Artículos de Revistas

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