Robust Minimal Instability of the Top Trading Cycles Mechanism

• 成果类型: Article
• 署名作者: Dogan, Battal; Ehlers, Lars
• 署名单位: University of Bristol; Universite de Montreal; Universite de Montreal
• 刊物名称: AMERICAN ECONOMIC JOURNAL-MICROECONOMICS
• ISSN/ISSBN: 1945-7669
• DOI: 10.1257/mic.20200148
• 发表日期: 2022
• 页码: 556-582
• 关键词: School choice; allocation; improvements; STABILITY

摘要

In the context of priority-based allocation of objects , we formulate methods to compare assignments in terms of their stability. We intro-duce three basic properties that a reasonable stability comparison should satisfy. We show that for any stability comparison satisfy-ing the three properties , the top trading cycles mechanism is mini-mally unstable among efficient and strategy-proof mechanisms when objects have unit capacities. Our unifying approach covers basically all natural stability comparisons and establishes the robustness of a recent result by Abdulkadiroglu et al. (2020). When objects have nonunit capacities , we characterize the capacity-priority structures for which our result is preserved. (JEL C70, C78, D61, D82)