Efficient mixtures of priority rules for assigning objects

Patrick Harless and William Phan

Games and Economic Behavior, 2022, vol. 132, issue C, 73-89

Abstract: Equity motivates randomization, but often comes at the cost of efficiency. We study the tradeoff within the strategy-proof family of priority rules. Although randomization over all priority orders is incompatible with efficiency, we characterize the maximal subsets of priority for which randomization preserves efficiency: free-agent and adjacent-three families. Introducing equity measures for asymmetric rules, we show that mixtures within these subfamilies admit probabilistic guarantees that priority rules cannot deliver.

Keywords: Object allocation; Priority rules; Convex combinations; Efficiency; Guarantee (search for similar items in EconPapers)
JEL-codes: D63 D70 (search for similar items in EconPapers)
Date: 2022
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:gamebe:v:132:y:2022:i:c:p:73-89

DOI: 10.1016/j.geb.2021.11.009

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