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Fairness and efficiency in strategy-proof object allocation mechanisms
Journal of Economic Theory . 2017. No. 170. P. 145–168.
I consider the problem of allocating N indivisible objects among N agents according to their preferences when transfers are absent and an outside option may exist. I study the tradeoff between fairness and efficiency in the class of strategy-proof mechanisms. The main finding is that for strategy-proof mechanisms the following efficiency and fairness criteria are mutually incompatible: (1) ex-post efficiency and envy-freeness, (2) ordinal efficiency and weak envy-freeness, and (3) ordinal efficiency and equal division lower bound. Result 1 is the first impossibility result for this setting that uses ex-post efficiency ; results 2 and 3 are more practical than similar results in the literature. In addition, for N=3, I give two characterizations of the celebrated random serial dictatorship mechanism: it is the unique strategy-proof, ex-post efficient mechanism that (4) provides agents that have the same ordinal preferences with assignments not dominated by each other (weak envy-freeness among equals), or (5) provides agents that have the same cardinal preferences with assignments of equal expected utility (symmetry). These results strengthen the characterization by Bogomolnaia and Moulin (2001); result 5 implies the impossibility result by Zhou (1990).
Research target:
Economics and Management
Language:
English
Publication based on the results of:
Abashkin V., Abdrakhmanova G., Bogdanov T. et al., М.: НИУ ВШЭ, 2026.
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Abashkin V., Abdrakhmanova G., Bogdanov T. et al., М.: НИУ ВШЭ, 2026.
Институт статистических исследований и экономики знаний НИУ ВШЭ изучает аспекты цифровой трансформации машиностроения, в том числе оценивает текущий уровень использования цифровых технологий и перспективный спрос на них.
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