The Role of Priorities in Assigning Indivisible Objects: A Characterization of Top Trading Cycles
نویسنده
چکیده
The Top Trading Cycles mechanism emerges as a desirable solution in various market design applications. Yet recommendations are made without any rigorous foundation for the role priorities play in assignment. We explain that role by recursive individual rationality with respect to a priority structure. We show that a mechanism is Pareto efficient, strategy-proof and recursively individual rational with respect to a priority structure if and only if it is the Top Trading Cycles mechanism defined by that priority structure.
منابع مشابه
Top Trading Cycles under General Capacities: A Characterization
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