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Efficiency, Justified Envy, and Incentives in Priority-Based Matching

Author

Listed:
  • Atila Abdulkadiroğlu
  • Yeon-Koo Che
  • Parag A. Pathak
  • Alvin E. Roth
  • Olivier Tercieux

    (PSE - Paris School of Economics - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement, PJSE - Paris Jourdan Sciences Economiques - UP1 - Université Paris 1 Panthéon-Sorbonne - ENS-PSL - École normale supérieure - Paris - PSL - Université Paris Sciences et Lettres - EHESS - École des hautes études en sciences sociales - ENPC - École des Ponts ParisTech - CNRS - Centre National de la Recherche Scientifique - INRAE - Institut National de Recherche pour l’Agriculture, l’Alimentation et l’Environnement)

Abstract

Top trading cycles (TTC) is Pareto efficient and strategy-proof in priority-based matching, but so are other mechanisms including serial dictatorship. We show that TTC minimizes justified envy among all Pareto efficient and strategy-proof mechanisms in one-to-one matching. In many-to-one matching, TTC admits less justified envy than serial dictatorship in an average sense. Empirical evidence from New Orleans OneApp and Boston Public Schools shows that TTC has significantly less justified envy than serial dictatorship.

Suggested Citation

  • Atila Abdulkadiroğlu & Yeon-Koo Che & Parag A. Pathak & Alvin E. Roth & Olivier Tercieux, 2020. "Efficiency, Justified Envy, and Incentives in Priority-Based Matching," PSE-Ecole d'économie de Paris (Postprint) halshs-03029897, HAL.
    • Handle: RePEc:hal:pseptp:halshs-03029897
    DOI: 10.1257/aeri.20190307
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    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

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