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An iterative allocation mechanism in the edgeworth box

journal contribution
posted on 1998-08-01, 00:00 authored by Nejat AnbarciNejat Anbarci, G Yi
This paper considers an iterative allocation mechanism which resolves the problem of multiplicity of allocations given by a mechanism in commodity space. At each stage, the average of the extreme allocations is taken and used as the starting point of the next stage. As long as the mechanism is individually rational and Pareto optimal, this iterative procedure yields a unique final allocation which is also individually rational and Pareto optimal. (JEL C63, C71)

History

Journal

International advances in economic research

Volume

4

Issue

3

Pagination

253 - 258

Publisher

Springer New York LLC

Location

New York, N.Y.

ISSN

1083-0898

eISSN

1573-966X

Language

eng

Publication classification

C1.1 Refereed article in a scholarly journal

Copyright notice

1998, Springer

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