Artikel
Fairness and externalities
We study equitable allocation of indivisible goods and money among agents with other-regarding preferences. First, we argue that Foley's (1967) equity test, i.e., the requirement that no agent prefer the allocation obtained by swapping her consumption with another agent, is suitable for our environment. Then, we establish the existence of allocations passing this test for a general domain of preferences that accommodates prominent other-regarding preferences. Our results are relevant for equitable allocation among inequity-averse agents and in a domain with linear externalities that we introduce. Finally, we present conditions guaranteeing that these allocations are efficient.
- Sprache
-
Englisch
- Erschienen in
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Journal: Theoretical Economics ; ISSN: 1555-7561 ; Volume: 11 ; Year: 2016 ; Issue: 1 ; Pages: 381-410 ; New Haven, CT: The Econometric Society
- Klassifikation
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Wirtschaft
Equity, Justice, Inequality, and Other Normative Criteria and Measurement
Noncooperative Games
- Thema
-
Equity
efficiency
other-regarding preferences
equal income competitive allocations
first welfare theorem
- Ereignis
-
Geistige Schöpfung
- (wer)
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Velez, Rodrigo A.
- Ereignis
-
Veröffentlichung
- (wer)
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The Econometric Society
- (wo)
-
New Haven, CT
- (wann)
-
2016
- DOI
-
doi:10.3982/TE1651
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:41 MEZ
Datenpartner
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Objekttyp
- Artikel
Beteiligte
- Velez, Rodrigo A.
- The Econometric Society
Entstanden
- 2016
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