Rationing with Baselines: The Composition Extension Operator

Jens Leth Hougaard, Juan D. Moreno-Ternero, Lars Peter Østerdal

Research output: Contribution to journalJournal articleResearchpeer-review

Abstract

We introduce a new operator for general rationing problems in which, besides conflicting claims, individual baselines play an important role in the rationing process. The operator builds onto ideas of composition, which are not only frequent in rationing, but also in related problems such as bargaining, choice, and queuing. We characterize the operator and show how it preserves some standard axioms in the literature on rationing. We also relate it to recent contributions in such literature.
Original languageEnglish
JournalAnnals of Operations Research
Volume211
Issue number1
Pages (from-to)179-191
ISSN0254-5330
DOIs
Publication statusPublished - 2013
Externally publishedYes

Keywords

  • Rationing
  • Baselines
  • Claims
  • Operator
  • Composition

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