What money can't buy: allocations with priority lists, lotteries and queues

Research, Preprint OPEN
Condorelli, Daniele;
(2009)
  • Publisher: Evanston, IL: Northwestern University, Kellogg School of Management, Center for Mathematical Studies in Economics and Management Science
  • Subject: D45 | rationing | queues | H42 | rationing; queues; priority lists; lotteries. | lotteries | D82 | priority lists
    • jel: jel:H42 | jel:D45 | jel:D82
      ddc: ddc:330

I study the welfare optimal allocation of a number of identical and indivisible objects to a set of heterogeneous risk-neutral agents under the hypothesis that money is not available. Agents have independent private values, which represent the maximum time that they are... View more
  • References (15)
    15 references, page 1 of 2

    Calabresi, Guido and Philip Bobbit, Tragic Choices, New York: W. W. Norton & Company, 1978.

    Chakravarty, Surajeet and Todd Kaplan, \Manna from Heaven or Forty Years in the Desert: Optimal Allocation without Transfer Payments," mimeo, University of Exeter, 2006.

    Condorelli, Daniele, \Value, Willingness to Pay and the Allocation of Scarce Resources," mimeo, Northwestern University, 2008.

    Elster, Jon, Solomonic Judgements, Cambridge, UK: Cambridge University Press, 1989.

    Hartline, Jason and Tim Roughgarden, \Optimal Mechanism Design and Money Burning," STOC 2008 Conference proceedings, 2008.

    Holmstrom, Bengt and Roger Myerson, \E±cient and Durable Decision Rules with Incomplete Information," Econometrica, 1983, 51, 1799{ 1819.

    Holt, Charles and Roger Sherman, \Waiting-Line Auctions," Journal of Political Economy, April 1982, 90 (2), 280{294.

    Kahneman, Daniel, Jack Knetsch, and Richard Thaler, \Fairness as a Constraint on Pro¯t-seeking: Entitlements in the Market," American Economic Review, September 1986, 76 (4), 728{741.

    Koh, Winston, Zhenlin Yang, and Lijing Zhu, \Lottery rather than waiting-line auction," Social Choice and Welfare, 2006, 27, 289{310.

    McAfee, Preston and John McMillan, \Bidding Rings," American Economic Review, 1992, 82 (3), 579{99.

  • Metrics
Share - Bookmark