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This essay reports (without attempting an exhaustive survey of the literature) on a body of formal research rooted in the models with which these authors were concerned : the model of bargaining, the model of coalitional opportunities, and the model of distribution of unproduced resources; and...
Persistent link: https://www.econbiz.de/10005200797
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For the problem of adjudicating conflicting claims, a rule is consistent if the choice it makes for each problem is always in agreement with the choice it makes for each "reduced problem" obtained by imagining that some claimants leave with their awards and reassessing the situation from the...
Persistent link: https://www.econbiz.de/10005200799
We consider the problem of adjudicating conflicting claims. A rule to solve such problems is consistent if the choice it makes for each problem is always in agreement with the choice it makes for each "reduced problem" obtained by imagining that some claimants leave with their awards and...
Persistent link: https://www.econbiz.de/10005200800
Persistent link: https://www.econbiz.de/10005200801
This paper considers learning when the distinction between risk and ambiguity matters. It first describes thought experiments, dynamic variants of those provided by Ellsberg, that highlight a sense in which the Bayesian learning model is extreme - it models agents who are implausibly ambitious...
Persistent link: https://www.econbiz.de/10005200802
We applied a notion of minimal-monotonic extention to a variety of economic models and showed that the minimal monotonic extension of a number of solutions can be easily calculated.
Persistent link: https://www.econbiz.de/10005200803
The paper considers an agent who must choose an action today under uncertainty about the consequence of any chosen action but without having in mind a complete list of all the contingencies that could influence outcomes. She conceives of some relevant (subjective) contingencies but she is aware...
Persistent link: https://www.econbiz.de/10005200804
We define two families of rules to adjudicate conflicting claims. The first family contains the constrained equal awards, constrained equal losses, Talmud, and minimal overlap rules. The second family, which also contains the constrained equal awards and constrained equal losses rules, is...
Persistent link: https://www.econbiz.de/10005200805
We consider the problem of dividing some amount of an infinitely divisible and homogeneous resource among agents having claims on this resource that cannot be jointly honored. A "rule" associates with each such problem a feasible division. Our goal is to uncover the structure of the space of...
Persistent link: https://www.econbiz.de/10005200806