Rules (of Bidding) to Generate Equal Stated Profits - An Axiomatic Approach -

Although one may hope to achieve equality of stated profits without enforcing it, one may not trust in such voluntary equality seeking and rather try to impose rules (of bidding) guaranteeing it. Our axiomatic approach is based on envy-free net trades according to bids which, together with the equality requirement, characterize the first-prize auction and fair division game.

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Year of publication:	2010-03-05
Authors:	Güth, Werner
Institutions:	Wirtschaftswissenschaftliche Fakultät, Friedrich-Schiller-Universität Jena
Subject:	Auctions \| Fair Division \| Procedural fairness \| Envy-Freeness

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Extent:	application/pdf
Series:	Jena Economic Research Papers.
Type of publication:	Book / Working Paper
Language:	English
Notes:	Number 2010-014
Classification:	D44 - Auctions ; D63 - Equity, Justice, Inequality, and Other Normative Criteria and Measurement ; C72 - Noncooperative Games ; D74 - Conflict; Conflict Resolution; Alliances
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008487470