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Creators/Authors contains: "Yan, Jianye"

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  1. ; ; ; (, American Economic Journal: Microeconomics)
    null (Ed.)
    We propose a pseudo-market mechanism for no-monetary-transfer allocation of indivisible objects based on priorities such as those in school choice. Agents are given token money, face priority-specific prices, and buy utility-maximizing random assignments. The mechanism is asymptotically incentive compatible, and the resulting assignments are fair and constrained Pareto efficient. Hylland and Zeckhauser’s (1979) position-allocation problem is a special case of our framework, and our results on incentives and fairness are also new in their classical setting. (JEL D63, D82, H75, I21, I28) 
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