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Swaps on networks


Pycia, Marek (2016). Swaps on networks. SSRN 2735524, SSRN eLibrary.

Abstract

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.

Abstract

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.

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Additional indexing

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:07 Apr 2020 07:10
Series Name:SSRN
Number of Pages:6
ISSN:1556-5068
OA Status:Closed
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

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