New axioms for top trading cycles

IF 0.8 4区经济学 Q3 ECONOMICS

Bulletin of Economic Research Pub Date : 2023-03-31 DOI:10.1111/boer.12393

Siwei Chen, Yajing Chen, Chia-Ling Hsu

引用次数: 0

Abstract

The school choice problem is of great importance both in theory and practice. This paper studies the (student-optimal) top trading cycles mechanism (TTCM) in an axiomatic way. We introduce two new axioms: MBG (mutual best group)-quota-rationality and MBG-robust efficiency. While stability implies MBG-quota rationality, MBG-robust efficiency is weaker than robust efficiency, which is stronger than the combination of efficiency and group strategy proofness. The TTCM is characterized by MBG-quota rationality and MBG-robust efficiency. Our results construct a new basis to compare the TTCM with the other school choice mechanisms, in terms of both fairness and incentive-related axioms.

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顶级交易周期的新公理

择校在理论和实践上都具有重要意义。本文以公理化的方法研究了（学生最优）顶部交易周期机制（TTCM）。我们引入了两个新的公理：MBG（互最佳群）-配额合理性和MBG鲁棒效率。稳定性意味着MBG配额的合理性，而MBG鲁棒效率弱于鲁棒效率，后者强于效率和群策略证明的组合。TTCM具有MBG配额合理性和MBG鲁棒有效性的特点。我们的结果为将TTCM与其他择校机制，特别是在Ergin而非Kesten非循环优先结构下的学生最优稳定机制进行比较提供了新的基础。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Bulletin of Economic Research ECONOMICS-

CiteScore

1.40

自引率

0.00%

发文量

期刊介绍： The Bulletin of Economic Research is an international journal publishing articles across the entire field of economics, econometrics and economic history. The Bulletin contains original theoretical, applied and empirical work which makes a substantial contribution to the subject and is of broad interest to economists. We welcome submissions in all fields and, with the Bulletin expanding in new areas, we particularly encourage submissions in the fields of experimental economics, financial econometrics and health economics. In addition to full-length articles the Bulletin publishes refereed shorter articles, notes and comments; authoritative survey articles in all areas of economics and special themed issues.