Big Data

Fairness Properties Of Constrained Market Equilibria

Download Now Date Added: Jan 2010
Format: PDF

This paper studies the notion of fairness in pure exchange economies involving uncertainty and asymmetric information. The authors propose a new concept of coalitional fair allocation in order to solve the tension that may exist between efficiency and envy-freeness when the equity of allocations is evaluated at the {it interim} stage. Some of the characterizations of constrained market equilibrium are derived extending the analysis to economies that have both an atomic and an atom less sector.