Proportional rules for state contingent claims

Sinan Ertemel, Rajnish Kumar

Research output: Contribution to journalArticlepeer-review

4 Citations (Scopus)
209 Downloads (Pure)

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 languageEnglish
Number of pages18
JournalInternational Journal of Game Theory
Early online date10 Jul 2017
DOIs
Publication statusPublished - Mar 2018

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