Fair Division with Uncertain Needs

• Main Author: Jingyi XUE
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2017
• Subjects: Claims Problems; Need Uncertainty; Fair Division; Waste; Expected-waste Constrained Uniform Gains Rule; Rationing; Bankruptcy; Economic Theory
• Online Access: https://ink.library.smu.edu.sg/soe_research/1907; https://ink.library.smu.edu.sg/context/soe_research/article/2906/viewcontent/fair_division_with_uncertain_needs__revised_.pdf
• Institution: Singapore Management University

Imagine that agents have uncertain needs and a resource must be divided before uncertainty resolves. In this situation, waste typically occurs when the assignment to an agent turns out to exceed his realized need. How should the resource be divided in the face of possible waste? This is a question o...