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School of Economics Discussion Papers, University of Kent >
Please use this identifier to cite or link to this item:
http://hdl.handle.net/10419/50621
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Full metadata record
| DC Field | | Value | | Language |
| dc.contributor.author | | Barde, Sylvain | | en_US |
| dc.date.accessioned | | 2011-03-24 | | en_US |
| dc.date.accessioned | | 2011-10-21T16:53:22Z | | - |
| dc.date.available | | 2011-10-21T16:53:22Z | | - |
| dc.date.issued | | 2011 | | en_US |
| dc.identifier.uri | | http://hdl.handle.net/10419/50621 | | - |
| dc.description.abstract | | An information-theoretic thought experiment is developed to provide a methodology for predicting endowment distributions in the absence of information on agent preferences. The allocation problem is first presented as a stylised knapsack problem. Although this knapsack allocation is intractable, the social planner can nevertheless make precise predictions concerning the endowment distribution by using its information-theoretic structure. By construction these predictions do not rest on the rationality of agents. It is also shown, however, that the knapsack problem is equivalent to a congestion game under weak assumptions, which means that the planner can nevertheless evaluate the optimality of the unobserved allocation. | | en_US |
| dc.language.iso | | eng | | en_US |
| dc.publisher | | Univ. of Kent, School of Economics Canterbury | | en_US |
| dc.relation.ispartofseries | | School of Economics discussion papers 11,03 | | en_US |
| dc.subject.jel | | C02 | | en_US |
| dc.subject.jel | | C62 | | en_US |
| dc.subject.jel | | D51 | | en_US |
| dc.subject.jel | | D83 | | en_US |
| dc.subject.ddc | | 330 | | en_US |
| dc.subject.keyword | | Information theoretic measure | | en_US |
| dc.subject.keyword | | knapsack problem | | en_US |
| dc.subject.keyword | | congestion game | | en_US |
| dc.subject.keyword | | potential function | | en_US |
| dc.title | | Ignorance is bliss: Rationality, information and equilibrium | | en_US |
| dc.type | | Working Paper | | en_US |
| dc.identifier.ppn | | 654777837 | | en_US |
| dc.rights | | http://www.econstor.eu/dspace/Nutzungsbedingungen | | en_US |
| Appears in Collections: | | School of Economics Discussion Papers, University of Kent
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