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An Axiomatization of the Random Priority Rule

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  • Christian Basteck

    (WZB Berlin)

Abstract

We study the problem of assigning indivisible objects to agents where each is to receive one object. To ensure fairness in the absence of monetary compensation, we consider random assignments. Random Priority, also known as Random Serial Dictatorship, is characterized by symmetry, ex-post efficiency and probabilistic (Maskin) monotonicity -- whenever preferences change so that a given deterministic assignment is ranked weakly higher by all agents, the probability of that assignment being chosen should be weakly larger. Probabilistic monotonicity implies strategy-proofness for random assignment problems and is equivalent on a general social choice domain; for deterministic rules it coincides with Maskin monotonicity.

Suggested Citation

  • Christian Basteck, 2024. "An Axiomatization of the Random Priority Rule," Rationality and Competition Discussion Paper Series 502, CRC TRR 190 Rationality and Competition.
    • Handle: RePEc:rco:dpaper:502
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    More about this item

    Keywords

    random assignment; random priority; random serial dictatorship; ex-post efficiency ; probabilistic monotonicity; maskin monotonity ;
    All these keywords.

    JEL classification:

    • C70 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - General
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement

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