A Pseudo-Market Approach to Allocation with Priorities

作者:He Yinghua*; Miralles Antonio; Pycia Marek; Yan Jianye
来源:American Economic Journal: Microeconomics , 2018, 10(3): 272-314.
DOI:10.1257/mic.20150259

摘要

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. Hylland and Zeckhauser's (1979) position-allocation problem is a special case of our framework, and our results on incentives and fairness are also new in their classical setting.