Baseline Rationing

Jens Hougaard (), Juan Moreno-Ternero and Lars Peter Østerdal

No 2011-04, Working Papers from Universidad de Málaga, Department of Economic Theory, Málaga Economic Theory Research Center

Abstract: We analyze a general model of rationing in which agents have baselines, in addition to claims against the (insufficient) endowment of the good to be allocated. Many real-life problems fit this extended model (e.g., bankruptcy with prioritized claims, resource allocation in the public health care sector, water distribution in drought periods). We introduce (and characterize) a natural class of allocation methods for such problems. Any method within the class is associated with a rule in the standard rationing model, and we show that if the latter obeys some properties reflecting principles of impartiality, priority and solidarity, the former obeys them too.

Keywords: rationing; baselines; claims; priority; solidarity (search for similar items in EconPapers)
JEL-codes: D63 (search for similar items in EconPapers)
Pages: 25 pages
Date: 2011-04
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https://theeconomics.uma.es/malagawpseries/Papers/METCwp2011-4.pdf First version, 2011 (application/pdf)

Related works:
Working Paper: Baseline Rationing (2010)
Working Paper: Baseline Rationing (2010)
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Persistent link: https://EconPapers.repec.org/RePEc:mal:wpaper:2011-4

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