Equity in strategic exchange

Peng Liu and Huaxia Zeng

Papers from arXiv.org

Abstract: New fairness notions aligned with the merit principle are proposed for designing exchange rules. We show that for an obviously strategy-proof, efficient and individually rational rule, (i) an agent receives her favorite object when others unanimously perceive her object the best, if and only if preferences are single-peaked, and (ii) an upper bound on fairness attainable is that, if two agents' objects are considered the best by all agents partitioned evenly into two groups, it is guaranteed that one, not both, gets her favorite object. This indicates an unambiguous trade-off between incentives and fairness in the design of exchange rules.

Date: 2025-04, Revised 2025-09
New Economics Papers: this item is included in nep-des and nep-mic
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