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Obvious dominance and random priority


Pycia, Marek; Troyan, Peter (2018). Obvious dominance and random priority. SSRN 2853563, SSRN eLibrary.

Abstract

We characterize the full class of obviously strategy-proof mechanisms in environments without transfers as clinch-or-pass games that we call millipede games. Some millipede games are simple and widely used in practice, while others may be complex, requiring agents to perform lengthy backward induction, and are rarely observed. We introduce a natural strengthening of obvious strategy-proofness called strong obvious strategy-proofness, which eliminates these complex millipede games. We use our definition to characterize the well-known Random Priority mechanism as the unique mechanism that is efficient, fair, and simple to play, thereby explaining its popularity in practical applications.

Abstract

We characterize the full class of obviously strategy-proof mechanisms in environments without transfers as clinch-or-pass games that we call millipede games. Some millipede games are simple and widely used in practice, while others may be complex, requiring agents to perform lengthy backward induction, and are rarely observed. We introduce a natural strengthening of obvious strategy-proofness called strong obvious strategy-proofness, which eliminates these complex millipede games. We use our definition to characterize the well-known Random Priority mechanism as the unique mechanism that is efficient, fair, and simple to play, thereby explaining its popularity in practical applications.

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Additional indexing

Item Type:Working Paper
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Language:English
Date:May 2018
Deposited On:03 Jul 2018 14:43
Last Modified:24 Mar 2020 11:46
Series Name:SSRN
Number of Pages:39
ISSN:1556-5068
OA Status:Green
Free access at:Publisher DOI. An embargo period may apply.
Publisher DOI:https://doi.org/10.2139/ssrn.2853563
Official URL:https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2853563

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