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In this note, three major areas of Buchanan's research are briefly described: (1) The ideas of Knut Wicksell on Buchanan's work, (2) constitutional economics and the veil of ignorance, and (3) the role of government and/or the power to tax. It is shown that these three areas had a major...
Persistent link: https://www.econbiz.de/10010368256
A fair division problem with indivisible objects, e.g. jobs, and one divisible good (money) is considered. The individuals consume one object and money. The class of strategy-proof and fair allocation rules is characterized. The allocation rules in the class are like a Vickrey auction bossy and...
Persistent link: https://www.econbiz.de/10013208452
A common real-life problem is to fairly allocate a number of indivisible objects and a fixed amount of money among a group of agents. Fairness requires that each agent weakly prefers his consumption bundle to any other agent's bundle. In this context, fairness is incompatible with budget-balance...
Persistent link: https://www.econbiz.de/10013208561
We consider envy-free and budget-balanced allocation rules for problems where a number of indivisible objects and a fixed amount of money is allocated among a group of agents. In "small" economies, we identify under classical preferences each agent's maximal gain from manipulation. Using this...
Persistent link: https://www.econbiz.de/10013208606
In many real-life house allocation problems, rents are bounded from above by price ceilings imposed by a government or a local administration. This is known as rent control. Because some price equilibria may be disqualified given such restrictions, this paper proposes an alternative equilibrium...
Persistent link: https://www.econbiz.de/10013208614
We consider envy-free and budget-balanced rules that are least manipulable with respect to agents counting or with respect to utility gains, and observe that for any profile of quasi-linear preferences, the outcome of any such least manipulable envy-free rule can be obtained via agent-k-linked...
Persistent link: https://www.econbiz.de/10013208702
Medical technology making kidney transplantation over the blood group barrier possible is now a reality. This paper investigates how such technology should be implemented when designing pairwise kidney exchange programs. The possibility to receive a kidney transplant from a blood group...
Persistent link: https://www.econbiz.de/10013208755
We consider taxation of exchanges among a set of agents where each agent owns one object. Agents may have different valuations for the objects and they need to pay taxes for exchanges. We show that if a rule satisfies individual rationality, strategyproofness, constrained efficiency, weak...
Persistent link: https://www.econbiz.de/10013208817
We consider an allocation problem with a finite number of objects, and agents that demand at most one of the objects. The study provides a characterization of a class of strategy-proof price mechanisms. A mechanism belongs to the class if and only if the price space is restricted in a special...
Persistent link: https://www.econbiz.de/10013208821
We analyze the problem of allocating indivisible objects and monetary compensations to a set of agents. In particular, we consider envy-free and budget-balanced rules that are least manipulable with respect to agents counting or with respect to utility gains. A key observation is that, for any...
Persistent link: https://www.econbiz.de/10013208893