Proportional rules for state contingent claims

Sinan Ertemel; Rajnish Kumar

doi:10.1007/s00182-017-0585-7

Proportional rules for state contingent claims

Sinan Ertemel^*, Rajnish Kumar

^*Corresponding author for this work

Department of Economics

Queen's University Belfast

Research output: Contribution to journal › Article › peer-review

12 Citations (Scopus)

Abstract

We consider rationing problems where the claims are state contingent. Before the state is realized individuals submit claims for every possible state of the world. A rule distributes resources before the realization of the state of the world. We introduce two natural extensions of the proportional rule in this framework, namely, the ex-ante proportional rule and the ex-post proportional rule, and then we characterize them using standard axioms from the literature.

Original language	English
Pages (from-to)	229-246
Number of pages	18
Journal	International Journal of Game Theory
Volume	47
Issue number	1
DOIs	https://doi.org/10.1007/s00182-017-0585-7
Publication status	Published - 1 Mar 2018

Bibliographical note

Publisher Copyright:
© 2017, Springer-Verlag GmbH Germany.

Keywords

No advantageous reallocation
Proportional rule
Rationing
State contingent claims

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10.1007/s00182-017-0585-7

Cite this

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Proportional rules for state contingent claims

Abstract

Bibliographical note

Keywords

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