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Competitive fair division

delete2001-04-01
delete36
PRE
AI
S
Steven J. Brams *
D
D. Marc Kilgour
DOI：10.1086/319550delete
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Abstract

Abstract

En 中文
Several indivisible goods are to be divided among two or more players, whose bids for the goods determine their prices. An equitable assignment of the goods at competitive prices is given by a fair-division procedure, called the Gap Procedure, that ensures (1) nonnegative prices that never exceed the bid of the player receiving the good; (2) Pareto optimality, though coupled with possible envy; (3) monotonicity, such that higher bids never hurt in obtaining a good; (4) sincere bids that preclude negative utility; and (5) prices that are partially independent of the amounts bid (as in a Vickrey auction). A variety of applications are discussed.
Keywords:
HOUSE ALLOCATION
ASSIGNMENT
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Key information extracted from the uploaded paper, including a brief overview, abstract, background, key highlights, visual analysis, and future outlook.

Journal

Journal of Political Economy cover
Journal of Political Economy
IF:
6.3
Papers:
2.6K
Citations:
3.2W

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No organization information available