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

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Abstract

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

Original language	English
Number of pages	18
Journal	International Journal of Game Theory
Early online date	10 Jul 2017
DOIs	https://doi.org/10.1007/s00182-017-0585-7
Publication status	Published - Mar 2018

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Rajnish Kumar
- rajnish.kumarqub.acuk
- Queen's Management School - Senior Lecturer
- Economics
Person: Academic

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Proportional rules for state contingent claims

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Rajnish Kumar

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