Fair Division of Scarce Resources: A Brief Survey of Claims Problems

Authors : Sinan ERTEMEL

Pages : 51-57

View : 45 | Download : 37

Publication Date : 2023-07-28

Article Type : Review Paper

Abstract :This paper studies the fair division of a scarce resource among competing claimants, a problem commonly referred to as the claims problem in the literature. This model has numerous practical applications, ranging from estate division and rationing to bankruptcy and even fundamental taxation issues. An axiomatic approach is utilized to scrutinize the properties of division rules, which are represented as mathematical axioms. The paper offers an analysis of prominent division rules, such as the proportional and egalitarian rules, alongside their axiomatic characterizations. Ultimately, the paper presents a comprehensive framework for achieving a fair and equitable allocation of scarce resources among competing claimants.
Keywords : fair division, claims problem, rationing, bankruptcy, inheritance, taxation, division rules