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Top Trading Cycles, Consistency, and Acyclic Priorities for House Allocation with Existing Tenants

Schlegel, J. C. ORCID: 0000-0002-8385-8349, Klaus, B. and Karakaya, M. (2019). Top Trading Cycles, Consistency, and Acyclic Priorities for House Allocation with Existing Tenants. Journal of Economic Theory, 104948.. doi: 10.1016/j.jet.2019.104948

Abstract

We study the house allocation with existing tenants model (Abdulkadiroğlu and Sönmez, 1999) and consider rules that allocate houses based on priorities. We introduce a new acyclicity requirement and show that for house allocation with existing tenants a top trading cycles (TTC) rule is consistent if and only if its underlying priority structure satisfies our acyclicity condition. Next we give an alternative description of TTC rules based on ownership-adapted acyclic priorities in terms of two specific rules, YRMH-IGYT (you request my house - I get your turn) and efficient priority rules, that are applied in two steps. Moreover, even if no priority structure is a priori given, we show that a rule is a top trading cycles rule based on ownership-adapted acyclic priorities if and only if it satisfies Pareto-optimality, individual-rationality, strategy-proofness, consistency, and either reallocation-proofness or non-bossiness.

Publication Type: Article
Additional Information: © 2019 Elsevier. This manuscript version is made available under the CC-BY-NC-ND 4.0 license http://creativecommons.org/licenses/by-nc-nd/4.0/
Publisher Keywords: Consistency, House allocation, Matching, Strategy-proofness, Top trading cycles
Subjects: H Social Sciences > HB Economic Theory
H Social Sciences > HC Economic History and Conditions
Departments: School of Arts & Social Sciences > Economics
URI: https://openaccess.city.ac.uk/id/eprint/23022
[img] Text - Accepted Version
This document is not freely accessible until 10 April 2021 due to copyright restrictions.
Available under License Creative Commons Attribution Non-commercial No Derivatives.

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