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Implementing Efficient Egalitarian Equivalent Allocations

Gabrielle Demange
Econometrica
Vol. 52, No. 5 (Sep., 1984), pp. 1167-1177
Published by: The Econometric Society
DOI: 10.2307/1910993
Stable URL: http://www.jstor.org/stable/1910993
Page Count: 11
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Since scans are not currently available to screen readers, please contact JSTOR User Support for access. We'll provide a PDF copy for your screen reader.
Implementing Efficient Egalitarian Equivalent Allocations
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Abstract

This paper proposes a procedure for implementing efficient egalitarian equivalent allocations in an exchange economy, using the perfect equilibrium concept. This procedure is an extension of the "divide and choose" method in two ways: it is defined for more than two agents and the divider's advantage is removed by auctioning the role of divider among the agents (as in Crawford [1]).Thus, in contrast with other equilibrium concepts (Nash, dominant), the perfect one solves the efficiency-justice dilemma.

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