An Equilibrium Analysis of Knaster’s Fair Division Procedure
نویسندگان
چکیده
منابع مشابه
An Equilibrium Analysis of Knaster's Fair Division Procedure
In an incomplete information setting, we analyze the sealed bid auction proposed by Knaster (cf. Steinhaus (1948)). This procedure was designed to effi ciently and fairly allocate multiple indivisible items when participants report their valuations truthfully. In equilibrium, players do not follow truthful bidding strategies. We find that, expost, the equilibrium allocation is still effi cient,...
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Fair-division problems are ubiquitous. They range from the day-to-day chore assignments to the Israeli-Palestinian conflict and include the division of an inheritance to the heirs (Brams & Taylor, 1999; Massoud, 2000). Many intuitive and self-implementable algorithms guaranteeing “fairness” have been devised in the past 50 years (Brams & Taylor, 1996). So far, very few empirical studies have pu...
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ژورنال
عنوان ژورنال: Games
سال: 2013
ISSN: 2073-4336
DOI: 10.3390/g4010021