Header

UZH-Logo

Maintenance Infos

A pseudo-market approach to allocation with priorities


He, Yinghua; Miralles, Antonio; Pycia, Marek; Yan, Jianye (2018). A pseudo-market approach to allocation with priorities. American Economic Journal: Microeconomics, 10(3):272-314.

Abstract

We propose a pseudo-market mechanism for no-monetary-transfer allocation of indivisible objects based on priorities such as those in school choice. Agents are given token money, face priority-specific prices, and buy utility-maximizing random assignments. The mechanism is asymptotically incentive compatible, and the resulting assignments are fair and constrained Pareto efficient. Aanund Hylland & Richard Zeckhauser (1979)'s position-allocation problem is a special case of our framework, and our results on incentives and fairness are also new in their classical setting.

Abstract

We propose a pseudo-market mechanism for no-monetary-transfer allocation of indivisible objects based on priorities such as those in school choice. Agents are given token money, face priority-specific prices, and buy utility-maximizing random assignments. The mechanism is asymptotically incentive compatible, and the resulting assignments are fair and constrained Pareto efficient. Aanund Hylland & Richard Zeckhauser (1979)'s position-allocation problem is a special case of our framework, and our results on incentives and fairness are also new in their classical setting.

Statistics

Citations

Dimensions.ai Metrics
2 citations in Web of Science®
2 citations in Scopus®
Google Scholar™

Altmetrics

Downloads

38 downloads since deposited on 15 Feb 2019
38 downloads since 12 months
Detailed statistics

Additional indexing

Item Type:Journal Article, refereed, original work
Communities & Collections:03 Faculty of Economics > Department of Economics
Dewey Decimal Classification:330 Economics
Uncontrolled Keywords:General economics, econometrics and finance
Language:English
Date:1 August 2018
Deposited On:15 Feb 2019 09:36
Last Modified:22 Feb 2019 10:25
Publisher:American Economic Association
ISSN:1945-7669
OA Status:Green
Publisher DOI:https://doi.org/10.1257/mic.20150259

Download

Download PDF  'A pseudo-market approach to allocation with priorities'.
Preview
Content: Published Version
Filetype: PDF
Size: 790kB
View at publisher
Licence: Creative Commons: Attribution-NoDerivs-NonCommercial 1.0 Generic (CC BY-ND-NC 1.0)