Suppose there are 3 agents i e(1, 2, 3} with preferences over 3 objects j €{a, b, c} as follows: 1:cba 2:bca3: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 vou arrived at vour answer
Suppose there are 3 agents i e(1, 2, 3} with preferences over 3 objects j €{a, b, c} as follows: 1:cba 2:bca3: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 vou arrived at vour answer
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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![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.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5cec6414-b6a6-42c2-9d37-6e1541f4d8c8%2F3eeb3077-97ad-4f25-a293-5227f92fcf3b%2Fgf5w5z_processed.jpeg&w=3840&q=75)
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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