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Howard (1992) argues that the Nash bargaining solution is not Nash implementable, as it does not satisfy Maskin monotonicity. His arguments can be extended to other bargaining solutions as well. However, by defining a social choice correspondence that is based on the solution rather than on its...
Persistent link: https://www.econbiz.de/10003731672
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/10011674186
In discrete exchange economies with possibly redundant and joint ownership, we propose new core notions in the conventional flavor by regarding endowments as rights to consume or trade with others. Our key idea is to identify self-enforcing coalitions and to redistribute their redundant property...
Persistent link: https://www.econbiz.de/10012839675
Social Choice traditionally employs the preferences of voters or agents as primitives. However, in most situations of constitutional decision-making the beliefs of the members of the electorate determine their secondary preferences or choices. Key choices in US political history, such as the...
Persistent link: https://www.econbiz.de/10014023834
We consider hedonic coalition formation games that are induced by a simple TU-game and a cooperative solution. For such models, Shenoy's (1979) absence of the paradox of smaller coalitions provides a sufficient condition for core existence. We present three different versions of his condition in...
Persistent link: https://www.econbiz.de/10003731198
In this paper we address several issues related to collective dichotomous decision-making by means of quaternary voting rules, i.e., when voters may choose between four actions: voting yes, voting no, abstaining and not turning up-which are aggregated by a voting rule into a dichotomous...
Persistent link: https://www.econbiz.de/10009506468
A voting situation is given by a set of voters and the rules of legislation that determine minimal requirements for a group of voters to pass a motion. A priori measures of voting power, such as the Shapley-Shubik index and the Banzhaf value, show the influence of the individual players in a...
Persistent link: https://www.econbiz.de/10009546873
A set of jobs need to be served by a server which can serve only one job at a time. Jobs have processing times and incur waiting costs (linear in their waiting time). The jobs share their costs through compensation using monetary transfers. In the first part, we provide an axiomatic...
Persistent link: https://www.econbiz.de/10014026948
In this note we consider a society that partitions itself into disjoint jurisdictions, each choosing a location of its public project and a taxation scheme to finance it. The set of public project is multi-dimensional, and their costs could vary from jurisdiction to jurisdiction. We impose two...
Persistent link: https://www.econbiz.de/10014066238
We study coalitional stability in matching problems with externalities, including marriage markets, roommate problems, and Shapley-Scarf housing markets as particular cases. When preferences are randomly determined, the probability of having a coalitionally stable solution is positively affected...
Persistent link: https://www.econbiz.de/10013313691