An iterative allocation mechanism in the edgeworth box

Anbarci, Nejat and Yi, Gyoseob 1998, An iterative allocation mechanism in the edgeworth box, International advances in economic research, vol. 4, no. 3, pp. 253-258, doi: 10.1007/BF02294894.

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Title An iterative allocation mechanism in the edgeworth box
Author(s) Anbarci, NejatORCID iD for Anbarci, Nejat
Yi, Gyoseob
Journal name International advances in economic research
Volume number 4
Issue number 3
Start page 253
End page 258
Total pages 6 p.
Publisher Springer New York LLC
Place of publication New York, N.Y.
Publication date 1998-08
ISSN 1083-0898
Summary 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)
Language eng
DOI 10.1007/BF02294894
Field of Research 140302 Econometric and Statistical Methods
Socio Economic Objective 970114 Expanding Knowledge in Economics
HERDC Research category C1.1 Refereed article in a scholarly journal
Copyright notice ©1998, Springer
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Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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