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GameTheory (version 2.7.1)

CEL: Constrained Equal Losses Rule

Description

This function calculates how to distribute a given endowment by the CEL rule.

Usage

CEL(E, C, Names = NULL)

Arguments

E

Endowment

C

Claims of the agents

Names

Labels of the agents

Author

Sebastian Cano-Berlanga <cano.berlanga@gmail.com>

Details

The constrained equal losses (CEL) rule (Maimonides, 12th century and Aumann, 1985), chooses the awards vector at which all agents incur equal losses, subject to no one receiving a negative amount

References

Aumann, R.J. and Maschler, M., (1985) "Game Theoretic Analysis of a bankruptcy from the Talmud." Journal of Economic Theory 36, pp.195--213.