We study the problem of assigning a set of objects to a set of agents, when each agent is supposed to receive only one object and has strict preferences over the objects. In the absence of monetary transfers, we focus on the probabilistic rules, which takes the ordinal preferences as input (the...

We study a random assignment problem when each agent has possibly multiple demands on objects. In the case of unitary demands, Bogomolnaia and Moulin (2001) introduce the serial rule and characterize it for three-agent economies. We generalize the model to accommodate the possibility that...

Why do lawyers in some jurisdictions continue to ‘automatically’ exclude the 1980 UN Convention on Contracts for the International Sale of Goods (CISG) in their choices of law for international sales contracts? Why do lawyers in other jurisdictions approach the decision very differently? Why...

This paper provides two axiomatizations of the probabilistic serial mechanism. First, the mechanism is characterized by ordinal efficiency, envy-freeness, and truncation robustness. Truncation robustness restricts changes in assignments when agents truncate their preference lists. In this...

We study experimentally how the network structure and length of pre-play communication affect behavior and outcome in a multi-player coordination game with conflicting preferences. Network structure matters but the interaction between network and time effects is more subtle. Under each time...

Consider a market for a resource under disequilibrium prices where suppliers and demanders are privately informed about their optimal supply and consumption levels. Strategy-proof market clearing mechanisms give suppliers and demanders dominant strategy incentives to truthfully reveal this...

Motivated by growing evidence of agents' mistakes in strategically simple environments, we propose a solution concept---robust equilibrium---that requires only an asymptotically optimal behavior. We use it to study large random matching markets operated by the applicant-proposing Deferred...

It is known that there are school choice problems without an efficient and stable assignment. We consider comparing assignments in terms of their stability by comparing their sets of blocking (student-school) pairs or comparing their sets of blocking students who are involved in at least one...

UK universities advertise the degree majors (courses) they offer, and every year over 700,000 students apply to their chosen courses. For each of their courses, universities have an intake target (the number of students to admit) and an access target (the number of disadvantaged students to...

The most successful human societies are those that have found better ways to promote cooperative behaviour. Yet, cooperation is individually costly and, therefore, it often breaks down, leading to enormous social costs. In this article, I review the literature on the mechanisms and interventions...