Axiomatic characterizations of the constrained probabilistic serial mechanism
Afacan (Games and Economic Behavior 110: 71-89, 2018) introduces an object allocation with random priorities problem. He proposes the constrained probabilistic serial (CPS) mechanism. This study, for the first time in the literature, provides axiomatic characterizations of CPS. The first result characterizes it via non-wastefulness, claimwise stability, constrained ordinal fairness, and surplus invariance to truncations. The other axiomatizes CPS via constrained stochastic efficiency, claimwise stability, and constrained ordinal fairness. The independence of the axioms is provided.
Other Information
Published in: Theory and Decision
License: https://creativecommons.org/licenses/by/4.0
See article on publisher's website: https://dx.doi.org/10.1007/s11238-023-09925-z
Funding
Open Access funding provided by the Qatar National Library.
History
Language
- English
Publisher
Springer NaturePublication Year
- 2023
License statement
This Item is licensed under the Creative Commons Attribution 4.0 International License.Institution affiliated with
- Qatar University
- College of Business and Economics - QU
