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Axiomatic characterizations of the CEA solution for rationing problems
Affiliation:1. Instituto Español de Oceanografía, C.O. de Málaga, Puerto Pesquero s/n, 29649, Fuengirola, Spain;2. Instituto Geológico Minero de España, c/ Ríos Rosas 23, 28003 Madrid, Spain;3. Instituto Español de Oceanografía, C.O. de Cádiz, Muelle de Levante, Puerto Pesquero s/n, Cádiz, Spain;4. Instituto Hidrográfico de la Marina, Plaza San Severiano 3, 11007, Cádiz, Spain
Abstract:
Situations abound in the real world, where aggregate demand for a commodity exceeds aggregate supply. When such situations of excess demand occur, what is required is some kind of rationing. The literature on rationing problems has an interesting origin in the Babylonian Talmud. The purpose of this paper is to characterize axiomatically and analyze the constrained equal award solution for rationing problems.
Keywords:
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