We study the allocation and exchange of indivisible objects without monetary transfers. In market design literature, some problems that fall in this category are the house allocation problem with and without existing tenants, and the kidney exchange problem. We introduce a new class of direct mechanisms that we call "trading cycles with brokers and owners," and show that (i) each mechanism in the class is coalitional strategy-proof and Pareto-efficient, and (ii) each coalitional strategy-proof and Pareto-efficient direct mechanism is in the class. As corollaries, we obtain new characterizations in the aforementioned market design problems.
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Length: Date of creation: 01 Jan 2009 Date of revision: Handle: RePEc:boc:bocoec:715
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Find related papers by JEL classification: C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy-Making and Implementation
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