Welfare theorems for random assignments with priorities

Schlegel, J. C. & Mamageishvili, A. (2017). Welfare theorems for random assignments with priorities (17/05). London, UK: Department of Economics, City, University of London.

Abstract

Motivated by the application of designing fair and efficient school choice lotteries, we consider constrained efficiency notions for random assignments under priorities. We provide a constrained (priority respecting) version of the ordinal efficiency welfare theorem for random assignments. Moreover, we show that a constrained version of a cardinal second welfare theorem fails to hold.

Publication Type:	Monograph (Discussion Paper)
Additional Information:	Copyright 2017, the authors.
Publisher Keywords:	Matching; Random Assignments; Priority-based Allocation; Constrained Efficiency; Pseudo-Market
Departments:	School of Policy & Global Affairs > Economics > Discussion Paper Series