Incentives in the probabilistic serial mechanism |
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Authors: | Fuhito Kojima Mihai Manea |
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Institution: | a Department of Economics, Stanford University, United States b Department of Economics, MIT, United States |
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Abstract: | The probabilistic serial mechanism (Bogomolnaia and Moulin, 2001 9]) is ordinally efficient but not strategy-proof. We study incentives in the probabilistic serial mechanism for large assignment problems. We establish that for a fixed set of object types and an agent with a given expected utility function, if there are sufficiently many copies of each object type, then reporting ordinal preferences truthfully is a weakly dominant strategy for the agent (regardless of the number of other agents and their preferences). The non-manipulability and the ordinal efficiency of the probabilistic serial mechanism support its implementation instead of random serial dictatorship in large assignment problems. |
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Keywords: | C70 D61 D63 |
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