文献类型：期刊文献

英文题名：New axioms for top trading cycles

作者：Chen, Siwei[1]; Chen, Yajing[2]; Hsu, Chia-Ling[3]

机构：[1] Lingnan College, Sun Yat-sen University, Guangzhou, China; [2] School of Business, East China University of Science and Technology, Shanghai, China; [3] School of Economics, Southwestern University of Finance and Economics, Chengdu, China

年份：2021

外文期刊名：arXiv

收录：EI(收录号：20210094112)

语种：英文

外文关键词：Efficiency - Students

摘要：School choice is of great importance both in theory and practice. This paper studies the (student-optimal) top trading cycles mechanism (TTCM) in an axiomatic way. We introduce two new axioms: MBG (mutual best group)-quota-rationality and MBG-robust efficiency. While stability implies MBG-quota-rationality, MBG-robust efficiency is weaker than robust efficiency, which is stronger than the combination of efficiency and group strategy-proofness. The TTCM is characterized by MBG-quota-rationality and MBG-robust efficiency. Our results construct a new basis to compare the TTCM with the other school choice mechanisms, especially the student-optimal stable mechanism under Ergin but not Kesten-acyclic priority structures. ? 2021, CC BY-NC-ND.