Rationing with baselines: the composition extension operator

doi:10.1007/s10479-013-1471-8

Rationing with baselines: the composition extension operator

2013-10-09

16

OA

AI

J

Jens Leth Hougaard *

J

Juan D. Moreno‐Ternero

L

Lars Peter Østerdal

DOI：10.1007/s10479-013-1471-8

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Abstract

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We introduce a new operator for general rationing problems in which, besides conflicting claims, individual baselines play an important role in the rationing process. The operator builds onto ideas of composition, which are not only frequent in rationing, but also in related problems such as bargaining, choice, and queuing. We characterize the operator and show how it preserves some standard axioms in the literature on rationing. We also relate it to recent contributions in such literature.

Keywords:

Rationing

Baselines

Claims

Operator

Composition

Rationing with baselines: the composition extension operator

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