Events

Prof. Sam Jindani
Department of Economics
National University of Singapore

We consider the problem of social choice when transfers between agents are possible. This includes several canonical applications: public-good provision, management of a common resource, bankruptcy settlements, and fair division of goods. The question of interest is, given a set of possible alternatives, which should be chosen and what transfers, if any, should be made? In applications, a commonly used solution is the Shapley value of the stand-alone game. We show that it is the only solution satisfying certain natural properties, including additivity and a form of monotonicity.