Proportional rules for state contingent claims


Ertemel S. , Kumar R.

INTERNATIONAL JOURNAL OF GAME THEORY, cilt.47, ss.229-246, 2018 (SCI İndekslerine Giren Dergi) identifier identifier

  • Cilt numarası: 47 Konu: 1
  • Basım Tarihi: 2018
  • Doi Numarası: 10.1007/s00182-017-0585-7
  • Dergi Adı: INTERNATIONAL JOURNAL OF GAME THEORY
  • Sayfa Sayıları: ss.229-246

Özet

We consider rationing problems where the claims are state contingent. Before the state is realized individuals submit claims for every possible state of the world. A rule distributes resources before the realization of the state of the world. We introduce two natural extensions of the proportional rule in this framework, namely, the ex-ante proportional rule and the ex-post proportional rule, and then we characterize them using standard axioms from the literature.