On Hill’s Worst-Case Guarantee for Indivisible Bads
We evaluate the fairness of a rule allocating among agents with equal rights by computing their utility for a hypothetical worst-case share, which only depends on their own valuation and the number of agents. For indivisible goods, Budish proposed the maximin share : the least utility of a bundle in the best partition of the objects; unfortunately maximin share is not always satisfiable. Earlier, Hill proposed the worst maximin share over all utilities with the same largest possible single-object value. More conservative than maximin share, it is guaranteed to be satisfiable for any possible profile of utilities and its computation is elementary, whereas it is NP-hard to compute maximin share. We apply Hill’s approach to the allocation of indivisible bads (objects with disutilities) and compute in closed form the worst-case minimax share for a given value of the worst single bad. We show that the worst-case minimax share is close to the original minimax share and that its monotonic closure is the best guaranteed share for all allocation instances with a common upper bound on the value of the worst single bad.
Authors
- Ankang Sun (ORCID: https://orcid.org/0000-0003-1464-1979)
- Hervé Moulin (ORCID: https://orcid.org/0000-0003-3358-6290)
- Y. -F. Zhou (ORCID: https://orcid.org/0000-0001-6799-8379)
- Bo Li (ORCID: https://orcid.org/0000-0001-7500-8355)
Institutions
- Pennsylvania State University (US)
- Hong Kong Polytechnic University (HK)
- Adam Smith Institute (GB)
- University of Glasgow (GB)
Publication Details
- Journal
- ACM Transactions on Economics and Computation
- Published
- 2024-11-11
- DOI
- https://doi.org/10.1145/3703845
- Primary Topic
- Game Theory and Voting Systems
- Type
- article
- Field-Weighted Citation Impact
- 0.00
Funders
- Hong Kong Polytechnic University
- Basic and Applied Basic Research Foundation of Guangdong Province