Suppose there are 3 agents i E(1, 2, 3) with preferences over 3 objects j e(a, b, c) as follows: 1:cba 2:bca 3:bac Consider the random allocation given by the following probability shares: Agent Good a bc1 0.5 0 0.5 2 0.25 0.5 0.25 3 0.25 0.5 0.25 Is this allocation ordinally efficient? Is it ex-ante weakly envy-free? Be sure to explain how you arrived at your answer.
Suppose there are 3 agents i E(1, 2, 3) with preferences over 3 objects j e(a, b, c) as follows: 1:cba 2:bca 3:bac Consider the random allocation given by the following probability shares: Agent Good a bc1 0.5 0 0.5 2 0.25 0.5 0.25 3 0.25 0.5 0.25 Is this allocation ordinally efficient? Is it ex-ante weakly envy-free? Be sure to explain how you arrived at your answer.
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Transcribed Image Text:Suppose there are 3 agents i e(1, 2, 3} with preferences over 3 objects j Ela, b, c} as
follows: 1:cba 2:bca 3:bac Consider the random allocation given by the
following probability shares: Agent Good a bc10.50 0.5 2 0.25 0.5 0.25 3 0.25 0.5
0.25 Is this allocation ordinally efficient? Is it ex-ante weakly envy-free? Be sure to
explain how you arrived at your answer.
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