Abstract
We consider a probabilistic approach to the problem of assigning k indivisible identical objects to a set of agents with single-peaked preferences. Using the ordinal extension of preferences we characterize the class of uniform probabilistic rules by Pareto efficiency, strategy-proofness, and no-envy. We also show that in this characterization no-envy cannot be replaced by anonymity. When agents are strictly risk averse von Neumann-Morgenstern utility maximizer, then we reduce the problem of assigning k identical objects to a problem of allocating the amount k of an infinitely divisible commodity.
Original language | English |
---|---|
Pages (from-to) | 249-268 |
Journal | Review of Economic Design |
Volume | 8 |
Issue number | 3 |
DOIs | |
Publication status | Published - 1 Dec 2003 |
Keywords
- Probabilistic rules
- Single-peaked preferences
- Strategy-proofness
- Uniform allocations