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Rationing : dynamic considerations, equivalent sacrifice and links between the two approaches

RePEc: Research Papers in EconomicsPublished 1 May 2004
Faculteit Economie
Citations29

Abstract

Suppose a quantity t of a given resource is divided among two agents. If an additional quantity becomes available, how shall we share it among the agents ? By looking at the way we can share this increment (or decrement), it is possible to derive some existing rationing methods but also some new ones. Three new methods seem particularly interesting. They can also be derived following an Equivalent Sacrifice approach.

Keywords

Decision SciencesEconomics, Econometrics and FinanceBusiness, Management and Accounting