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Persistent link: https://www.econbiz.de/10012097910
The deferred acceptance algorithm is often used to allocate indivisible objects when monetary transfers are not allowed. We provide two characterizations of agent-proposing deferred acceptance allocation rules. Two new axioms-individually rational monotonicity and weak Maskin monotonicity-are...
Persistent link: https://www.econbiz.de/10008470805
The random priority (random serial dictatorship) mechanism is a common method for assigning objects. The mechanism is easy to implement and strategy-proof. However, this mechanism is inefficient, because all agents may be made better off by another mechanism that increases their chances of...
Persistent link: https://www.econbiz.de/10008679669
Fudenberg and Levine (1993a) introduced the notion of self-confirming equilibrium, which is generally less restrictive than Nash equilibrium. Fudenberg and Levine also defined a concept of consistency, and claimed in their Theorem 4 that with consistency and other conditions on beliefs, a...
Persistent link: https://www.econbiz.de/10008470803