This paper studies the problem of allocating utility losses among n agents with cardinal non-comparable utility functions. This problem is referred to as the Nash rationing problem, as it can be regarded as the translation of the Nash bargaining problem to a rationing scenario. We show that there is no single-valued solution satisfying the obvious reformulation of Nash’s axioms, nor a multivalu...

In this paper, we study industry equilibrium under the assumptions that (1) #rms need outside #nancing and (2) they have a moral hazard problem in taking potentially excessive risks. We characterize an industry equilibrium with credit rationing, where #rms choose not to take risks, and compare this to the industry equilibrium in the absence of credit rationing. In both cases, we show that compe...

Smart card technology has resulted in vast developments in many aspects of modern human life. User acceptance of fuel rationing smart cards based on adoption model involves many factors such as: satisfaction, security, external variables, attitude toward using, etc. In this study, user acceptance and security factors for fuel rationing smart cards in Iran have been evaluated based on an adoptio...

The costs of shortages and rationing are not captured by standard consumer price indices. Thus the change in real GDP per capita is an overestimate of welfare losses in transition economies. In this study virtual prices are used to calculate new cost-of-living indices (CLIs). The results for Poland show that from 1987 to 1992 the CLI ignoring the rationing effects is biased upward from 1.53 to ...

Previous studies show that citizens usually prefer physicians as decision makers for rationing in health care, while politicians are downgraded. The findings are far from clear-cut due to methodological differences, and as the results are context sensitive they cannot easily be transferred between countries. Drawing on methodological experiences from previous research, this paper aims to identi...