Citation:
Jens Leth Hougaard, Bezalel Peleg, and Lars Thorlund-Petersen. “On The Set Of Lorenz-Maximal Imputations In The Core Of A Balanced Game”. Discussion Papers 1999. Web.
Abstract:
This paper considers the set of Lorenz-maximal imputations in the core of a balanced cooperative game as a solution concept. It is shown that the Lorenz-solution concept satisfies a number of suitable properties such as desirability, continuity and the reduced game property. Moreover, the paper considers alternative characterizations where it is shown that Lorenz-fairness is tantamount to the existence of an additive, strictly increasing and concave social welfare function. Finally the paper also provides axiomatic characterizations as well as two examples of application.