Rationing Rules Under Uncertain Claims: A Survey

Sinan Ertemel*, Rajnish Kumar

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Özet

We survey a recent line of literature that studies rationing rules when individuals have uncertain claims which can be represented as state-contingent claims or probability distributions. A rule must distribute shares before uncertainty resolves. We introduce proportional rules, parametric rules, equal-quantile rules, and expected waste-constrained uniform gains rules in this framework. We provide an axiomatic characterization of these rules using adaptations of standard axioms in the literature and some new axioms pertaining to uncertainty.

Orijinal dilİngilizce
Ana bilgisayar yayını başlığıIndian Statistical Institute Series
YayınlayanSpringer Science and Business Media B.V.
Sayfalar177-199
Sayfa sayısı23
DOI'lar
Yayın durumuYayınlandı - 2021
Harici olarak yayınlandıEvet

Yayın serisi

AdıIndian Statistical Institute Series
ISSN (Basılı)2523-3114
ISSN (Elektronik)2523-3122

Bibliyografik not

Publisher Copyright:
© 2021, The Author(s), under exclusive license to Springer Nature Singapore Pte Ltd.

Finansman

We are grateful to Jingyi Xue for her many valuable comments and suggestions. We also would like to thank the two referees whose suggestions have helped improve this chapter. Rajnish Kumar acknowledges the financial support provided by British Council, UK, Grant UGC-UKIERI 2016-17-059.

FinansörlerFinansör numarası
British CouncilUGC-UKIERI 2016-17-059

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