Strategy-proofness and Fixed-price Allocation of Indivisible Goods - a Characterization Proof
AbstractIn this paper we considered the classical Shapley-Scarf (1974) "house allocation model", where in addition there is a perfectly divisible good (money). The problem is to characterize all strategy-proof, nonbossy and individually rational allocation mechanisms. The finding is that only a fixed-price allocation mechanism is consistent with these presumptions. Miyagawa (2001) first proved this result. Here we give an alternative and comparatively short proof of the characterization result.
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Bibliographic InfoPaper provided by Lund University, Department of Economics in its series Working Papers with number 2002:17.
Length: 11 pages
Date of creation: 07 Jun 2002
Date of revision:
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Postal: Department of Economics, School of Economics and Management, Lund University, Box 7082, S-220 07 Lund,Sweden
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Strategy-proof; Indivisible object; Housing market;
Find related papers by JEL classification:
- C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
- D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation
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- Miyagawa, Eiichi, 2001. "House Allocation with Transfers," Journal of Economic Theory, Elsevier, vol. 100(2), pages 329-355, October.
- Ma, Jinpeng, 1994. "Strategy-Proofness and the Strict Core in a Market with Indivisibilities," International Journal of Game Theory, Springer, vol. 23(1), pages 75-83.
- Svensson, Lars-Gunnar & Larsson, Bo, 2000.
"Strategy-Proof and Nonbossy Allocation of Indivisible Goods and Money,"
2000:11, Lund University, Department of Economics.
- Lars-Gunnar Svensson & Bo Larsson, 2002. "Strategy-proof and nonbossy allocation of indivisible goods and money," Economic Theory, Springer, vol. 20(3), pages 483-502.
- Shapley, Lloyd & Scarf, Herbert, 1974. "On cores and indivisibility," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 23-37, March.
- Lars-Gunnar Svensson, 1999. "Strategy-proof allocation of indivisible goods," Social Choice and Welfare, Springer, vol. 16(4), pages 557-567.
- Schummer, James, 2000. "Eliciting Preferences to Assign Positions and Compensation," Games and Economic Behavior, Elsevier, vol. 30(2), pages 293-318, February.
- Roberts, Kevin, 1984. "The Theoretical Limits of Redistribution," Review of Economic Studies, Wiley Blackwell, vol. 51(2), pages 177-95, April.
- Shinji Ohseto, 1999. "Strategy-proof allocation mechanisms for economies with an indivisible good," Social Choice and Welfare, Springer, vol. 16(1), pages 121-136.
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