Pair-efficient reallocation of indivisible objects

Özgün Ekici

Theoretical Economics, 2024, vol. 19, issue 2

Abstract: We revisit the classical object reallocation problem under strict preferences. When attention is constrained to the set of Pareto-efficient rules, it is known that top trading cycles (TTC) is the only rule that is strategyproof and individually-rational. We relax this constraint and consider pair-efficiency. A rule is pair-efficient if it never induces an allocation at which a pair of agents gain from trading their assigned objects. Remarkably, even in the larger set of pair-efficient rules, we find that TTC is still the only rule that is strategyproof and individually-rational. Our characterization result gives strong support to the use of TTC in object reallocation problems.

Keywords: Indivisible object; pair-efficient; strategyproof; individually-rational; Top trading cycles (search for similar items in EconPapers)
JEL-codes: C78 D61 D63 D82 (search for similar items in EconPapers)
Date: 2024-05-13
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Citations: View citations in EconPapers (7)

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