Center for Economic Research, Department of Economics, University of Minnesota
Truncated Egalitarian and Monotone Path solutions are two families
of generalizations of the Egalitarian solution which fail to
satisfy WPO (Weak Pareto-Optimality) and SY (Symmetry) respectively.
Any solution satisfying SY, IIA (Independence of Irrelevant Alternatives),
CONT (Continuity), and MON (Monotonicity: everyone originally present
should help out when new agents come in with no resources of their own)
coincides with a Truncated Egalitarian solution if the number of agents
n is greater than 2,but may permit utility substitutions if n=2. Similarly,
any solution satisfying WPO, IIA, CONT and MON "essentially" coincides
with a Monotone Path solution if n > 2,but may permit utility substitution
Thomson, W., (1983), "Truncated Egalitarian and Monotone Path Solutions", Discussion Paper No. 174, Center for Economic Research, Department of Economics, University of Minnesota.
Truncated Egalitarian and Monotone Path Solutions.
Center for Economic Research, Department of Economics, University of Minnesota.
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