The Generalized Random Priority Mechanism with Budgets

東京大学大学院経済学研究科 学術交流棟(小島ホール)
1階 セミナー室

橋本理 氏
Stanford University

This paper studies allocation problems with and without monetary transfers, such as multi-unit auctions, school choice, and course assignment. For this class of problems, we introduce a generalized random priority mechanism with budgets (GRP). This mechanism is always ex-post incentive compatible and feasible. Moreover, as the market grows large, this mechanism can approximate any incentive compatible mechanism in the corresponding continuum economy. In particular, GRP can be used to approximate efficient and envy-free allocations, while preserving incentive compatibility and feasibility.

備考: Microworkshop共催