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Ex-ante efficiency in assignments with seniority rights

Article
Author/s: 
Antonio Miralles
Review of Economic Design
Issue number: 
March 2017, Volume 21, Issue 1
Publisher: 
Elsevier
Year: 
2017
Journal pages: 
33-48
Journal article [1]
We study random assignment economies with expected-utility agents, each of them eventually obtaining a single object. We focus attention on assignment problems that must respect object-invariant (or uniform) weak priorities such as seniority rights in student residence assignment. We propose the sequential pseudomarket mechanism: the set of agents is partitioned into ordered priority groups that are called in turns to participate in a pseudomarket for the remaining objects. SP is characterized by the concept of consistent weak ex-ante efficiency (CWEE), that is, weak ex-ante efficiency complemented by consistency to economy reduction. Moreover, it is shown that CWEE generically implies ex-ante efficiency.
Tags: 
Trade Theory [2]

Source URL:http://coalitiontheory.net/content/ex-ante-efficiency-assignments-seniority-rights

Links
[1] https://link.springer.com/article/10.1007/s10058-016-0196-y [2] http://coalitiontheory.net/research-areas/trade-theory