A Characterization of the Top Trading Cycles Mechanism for the School Choice Problem
AbstractAbstract This paper characterizes the top trading cycles mechanism for the school choice problem. Schools may have multiple available seats to be assigned to students. For each school a strict priority ordering of students is determined by the school district. Each student has strict preference over the schools. We first define weaker forms of fairness, consistency and resource monotonicity. We show that the top trading cycles mechanism is the unique Pareto efficient and strategy-proof mechanism that satisfies the weaker forms of fairness, consistency and resource monotonicity. To our knowledge this is the first axiomatic approach to the top trading cycles mechanism in the school choice problem where schools have a capacity greater than one.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 41366.
Date of creation: 15 Sep 2012
Date of revision:
Top Trading Cycles Mechanism; School Choice Problem;
Find related papers by JEL classification:
- C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
- I20 - Health, Education, and Welfare - - Education - - - General
- D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy-Making and Implementation
- D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
This paper has been announced in the following NEP Reports:
- NEP-ALL-2012-09-22 (All new papers)
- NEP-EDU-2012-09-22 (Education)
- NEP-GTH-2012-09-22 (Game Theory)
- NEP-LAB-2012-09-22 (Labour Economics)
- NEP-URE-2012-09-22 (Urban & Real Estate Economics)
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