COMPETITIVE DIVISION OF A MIXED MANNA

 
22.01.2018
 
Факультет экономики
 
НИУ ВШЭ в Санкт-Петербурге, Международная лаборатория теории игр и принятия решений; Фёдор Сандомирский

Доклад «Competitive Division of a Mixed Manna» основан на работе Bogomolnaia, A., Moulin, H., Sandomirskiy, F., Yanovskaya, E. (2017). Competitive division of a mixed manna. Econometrica, 85 (6), 1847–1871.

A mixed manna contains goods (that everyone likes), bads (that everyone dislikes), as well as items that are goods to some agents, but bads or satiated to others. If all items are goods and utility functions are homothetic, concave (and monotone), the Competitive Equilibrium with Equal Incomes maximizes the Nash product of utilities: hence it is welfarist (determined utility-wise by the feasible set of profiles), single-valued and easy to compute. We generalize the Gale-Eisenberg Theorem to a mixed manna. The Competitive division is still welfarist and related to the product of utilities or disutilities. If the zero utility profile (before any manna) is Pareto dominated, the competitive profile is unique and still maximizes the product of utilities. If the zero profile is unfeasible, the competitive profiles are the critical points of the product of disutilities on the efficiency frontier, and multiplicity is pervasive. In particular the task of dividing a mixed manna is either good news for everyone, or bad news for everyone.