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Clemens Puppe, Karlsruhe U. Print
Tuesday, 21 February 2017, 14:00 - 15:15

Clemens Puppe, Karlsruhe University

Resource Allocation via the Median Rule

Abstract: We study the properties of the median rule for the collective choice of resource allocation under a budget constraint: Each individual submits a proposal and the feasible allocations are ranked according to the sum of their distances in the l1-metric to the individual proposals. One of the allocations with minimal aggregate distance is chosen. This rule is shown to be remarkably robust against strategic manipulation. In particular, it is strategy-proof if all individuals have ‘metrically single-peaked’ preferences. The theoretical analysis of the median rule is complemented by simulation studies. 


Location: R42.2.113
Contact: Nancy De Munck, This e-mail address is being protected from spam bots, you need JavaScript enabled to view it