Browsing by Subject "Egalitarian solution"

Now showing 1 - 1 of 1
  • Thumbnail Image
    Item
    Truncated Egalitarian and Monotone Path Solutions
    (Center for Economic Research, Department of Economics, University of Minnesota, 1983-02) Thomson, William
    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 if n=2.