G2TT
来源类型Discussion paper
规范类型论文
来源IDDP15161
DP15161 Foundations of Pseudomarkets: Walrasian Equilibria for Discrete Resources
Antonio Miralles; Marek Pycia
发表日期2020-08-12
出版年2020
语种英语
摘要We study the assignment of objects in environments without transfers allowing for single-unit and general multi-unit demands, and any linear constraints, thus covering a wide range of applied environments, from school choice to course allocation. We establish the Second Welfare Theorem for these environments despite them failing the local non-satiation condition that previous studies of the Second Welfare Theorem relied on. We also prove a strong version of the First Welfare Theorem. We thus show that the link between efficiency and decentralization through prices is valid in environments without transfers, and hence provide a foundation for pseudomarket- based market design by showing that the restriction to such mechanisms is without loss of generality.
主题Industrial Organization
URLhttps://cepr.org/publications/dp15161
来源智库Centre for Economic Policy Research (United Kingdom)
资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/544129
推荐引用方式
GB/T 7714
Antonio Miralles,Marek Pycia. DP15161 Foundations of Pseudomarkets: Walrasian Equilibria for Discrete Resources. 2020.
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