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Characterizing the TTC rule via pair-efficiency: A short proof

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  • Ekici, Özgün
  • Sethuraman, Jay

Abstract

In the object reallocation problem, Ekici (2023) showed that Top Trading Cycles (TTC) is the unique rule that is strategyproof, individual-rational, and pair-efficient. We provide a short proof of this characterization result.

Suggested Citation

  • Ekici, Özgün & Sethuraman, Jay, 2024. "Characterizing the TTC rule via pair-efficiency: A short proof," Economics Letters, Elsevier, vol. 234(C).
    • Handle: RePEc:eee:ecolet:v:234:y:2024:i:c:s0165176523004858
    DOI: 10.1016/j.econlet.2023.111459
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    References listed on IDEAS

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    1. Szilvia Papai, 2000. "Strategyproof Assignment by Hierarchical Exchange," Econometrica, Econometric Society, vol. 68(6), pages 1403-1434, November.
    2. Ehlers, Lars, 2014. "Top trading with fixed tie-breaking in markets with indivisible goods," Journal of Economic Theory, Elsevier, vol. 151(C), pages 64-87.
    3. Pycia, Marek & Unver, Utku, 2017. "Incentive compatible allocation and exchange of discrete resources," Theoretical Economics, Econometric Society, vol. 12(1), January.
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    6. Karakaya, Mehmet & Klaus, Bettina & Schlegel, Jan Christoph, 2019. "Top trading cycles, consistency, and acyclic priorities for house allocation with existing tenants," Journal of Economic Theory, Elsevier, vol. 184(C).
    7. Ekici, Özgün, 2024. "Pair-efficient reallocation of indivisible objects," Theoretical Economics, Econometric Society, vol. 19(2), May.
    8. Ma, Jinpeng, 1994. "Strategy-Proofness and the Strict Core in a Market with Indivisibilities," International Journal of Game Theory, Springer;Game Theory Society, vol. 23(1), pages 75-83.
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    11. Afacan, Mustafa Oğuz, 2023. "A characterization of Top Trading Cycles under trading networks," Economics Letters, Elsevier, vol. 233(C).
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Indivisible object; Pair-efficient; Strategyproof; Individually-rational; Top trading cycles;
    All these keywords.

    JEL classification:

    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D61 - Microeconomics - - Welfare Economics - - - Allocative Efficiency; Cost-Benefit Analysis
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • D82 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Asymmetric and Private Information; Mechanism Design

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