Rationing Rules Under Uncertain Claims: A Survey

Sinan Ertemel, Rajnish Kumar

Research output: Chapter in Book/Report/Conference proceedingChapter (peer-reviewed)peer-review

Abstract

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.
Original languageEnglish
Title of host publicationGame Theory and Networks: New perspectives and directions
EditorsSurajit Borkotokey, Rajnish Kumar, Diganta Mukherjee, K. S. Mallikarjuna Rao, Sudipta Sarangi
PublisherSpringer
ISBN (Electronic)978-981-16-4737-6
ISBN (Print)978-981-16-4736-9
DOIs
Publication statusPublished - 01 Jan 2022

Publication series

NameIndian Statistical Institute Series
ISSN (Print)2523-3114
ISSN (Electronic)2523-3122

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