A characterization of the top-trading-cycles mechanism for housing markets via respecting-improvement

IF 2.1 4区经济学 Q2 ECONOMICS

Economics Letters Pub Date : 2025-02-01 DOI:10.1016/j.econlet.2024.112145

Bettina Klaus , Flip Klijn , Jay Sethuraman

引用次数: 0

Abstract

We provide the first characterization of the prominent top-trading-cycles (TTC) mechanism in the Shapley–Scarf housing market model (Shapley and Scarf, 1974) that uses respecting-improvement. Specifically, we show that for strict preferences, the TTC mechanism is the unique mechanism satisfying pair-efficiency, respecting-improvement, and strategy-proofness.

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来源期刊

Economics Letters ECONOMICS-

CiteScore

3.20

自引率

5.00%

发文量

348

审稿时长

30 days

期刊介绍： Many economists today are concerned by the proliferation of journals and the concomitant labyrinth of research to be conquered in order to reach the specific information they require. To combat this tendency, Economics Letters has been conceived and designed outside the realm of the traditional economics journal. As a Letters Journal, it consists of concise communications (letters) that provide a means of rapid and efficient dissemination of new results, models and methods in all fields of economic research.