Abstract
In the context of priority-based allocation of objects, we formulate methods to compare assignments in terms of their stability. We introduce three basic properties that a reasonable stability comparison should satisfy. We show that, for any stability comparison satisfying the three properties, the top trading cycles mechanism is minimally unstable among efficient and strategy-proof mechanisms when objects have unit capacities. Our unifying approach covers basically all natural stability comparisons and establishes the robustness of a recent result by Abdulkadiroǧlu et al. (2020). When objects have non-unit capacities, we characterize the capacity-priority structures for which our result is preserved.
Original language | English |
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Pages (from-to) | 556-582 |
Number of pages | 26 |
Journal | American Economic Journal: Microeconomics |
Volume | 14 |
Issue number | 4 |
DOIs | |
Publication status | Published - 1 Nov 2022 |
Research Groups and Themes
- ECON Microeconomic Theory