Studies at the Intersection of Philosophy and Economics

 

Rationality, Markets, and Morals: RMM 0 (2009), 183 – 197

If Not Only Numbers Count: Allocation of Equal Chances

Abstract

It is assumed that medical guidelines specify the appropriate amount of a divisible good which each individual should receive. Individual requirements and probabilities that the treatment is successful if an appropriate amount is received differ. The same applies to the success probabilities if individuals are inadequately treated. If supply is insufficient to serve all with appropriate amounts an allocation decision is necessary. We define probabilistic allocation rules that allocate chances of successful treatment to all individuals. We analyse a specific random allocation rule that assigns maximal equal gains of chances. We characterize the equal gain rule axiomatically.

Journal Information

RMM is an interdisciplinary open access journal focusing on issues of rationality, market mechanisms, and the experimental method of reasoning into moral subjects. It provides a forum for dialogue between philosophy, economics, and related disciplines, encouraging critical reflection on the foundations and implications of economic processes.

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