On the difficulty of budget allocation in claims problems with indivisible items of different prices

Teresa Estañ, Natividad Llorca, Ricardo Martinez () and Joaquín Sánchez-Soriano
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Teresa Estañ: Centro de Investigación Operativa (CIO), Universidad Miguel Hernández de Elche.
Natividad Llorca: Centro de Investigación Operativa (CIO), Universidad Miguel Hernández de Elche.

No 20/09, ThE Papers from Department of Economic Theory and Economic History of the University of Granada.

Abstract: In this paper we study the class of claims problems where the amount to be divided is perfectly divisible and claims are made on indivisible units of several items. Each item has a price, and the available amount falls short to be able to cover all the claims at the given prices. We propose several properties that may be of interest in this particular framework. These properties represent the common principles of fairness, efficiency, and non-manipulability. As we show, some combinations of the properties we consider are compatible, others are not. These findings contrast with the usual setting of claims problems (where both the claims and amount to be alloted are divisible).

Keywords: claims problems; indivisible items; equal treatment of equals; nonwastefulness; manipulability. (search for similar items in EconPapers)
Pages: 25 pages
Date: 2020-09-09
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Persistent link: https://EconPapers.repec.org/RePEc:gra:wpaper:20/09

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