Economics, Econometrics and Finance
4 years ago

New mechanism ensures fair and honest allocation of budget proposals.

Journal of Economic Theory
Truthful aggregation of budget proposals
Rupert Freeman, David M. Pennock, Dominik Peters, Jennifer Wortman Vaughan

Paper Summary

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The article discusses how to combine different budget proposals fairly. They compare two methods: one that focuses on overall happiness but may not be fair to everyone, and another that balances fairness and happiness. They find a way to combine these methods to be both fair and efficient.