Pycia, Marek (2016). Swaps on networks. SSRN 2735524, University of Zurich.
A group of agents exchange discrete resources on a network without recourse to monetary transfers. Allowing for an arbitrary network structure, we show that there is a unique core outcome in the exchange problem. This unique outcome may be implemented via a natural extension of Gale’s Top Trading Cycle mechanism, which is shown to be the unique mechanism that is individually strategy-proof, Pareto efficient, and individually rational.
A group of agents exchange discrete resources on a network without recourse to monetary transfers. Allowing for an arbitrary network structure, we show that there is a unique core outcome in the exchange problem. This unique outcome may be implemented via a natural extension of Gale’s Top Trading Cycle mechanism, which is shown to be the unique mechanism that is individually strategy-proof, Pareto efficient, and individually rational.
| Item Type: | Working Paper |
|---|---|
| Communities & Collections: | 03 Faculty of Economics > Department of Economics |
| Dewey Decimal Classification: | 330 Economics |
| JEL Classification: | C78, D78 |
| Uncontrolled Keywords: | Networks, Top Trading Cycles, individual strategy-proofness, group strategy-proofness, Pareto efficiency, exchange without transfers |
| Language: | English |
| Date: | February 2016 |
| Deposited On: | 05 Jul 2018 12:29 |
| Last Modified: | 21 Sep 2023 11:44 |
| Series Name: | SSRN |
| Number of Pages: | 6 |
| ISSN: | 1556-5068 |
| OA Status: | Green |
| Free access at: | Publisher DOI. An embargo period may apply. |
| Publisher DOI: | https://doi.org/10.2139/ssrn.2735524 |
| Official URL: | https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2735524 |
Pycia, Marek