<p>We study the classical reallocation problem (Shapley and Scarf in J Math Econ 1:23–37, 1974) and introduce a large class of exchange rules, each of which is strategy-proof, efficient, and individually rational on the domain of single-peaked preferences. These rules are generalizations of Gale’s top trading cycles: In each step, a subset of neighboring objects are available for exchange and the next subset of available objects may depend on the exchanges performed previously, where the neighborhood is defined by the order that justifies single-peakedness.</p>

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Neighborhood top trading cycles

  • Peng Liu

摘要

We study the classical reallocation problem (Shapley and Scarf in J Math Econ 1:23–37, 1974) and introduce a large class of exchange rules, each of which is strategy-proof, efficient, and individually rational on the domain of single-peaked preferences. These rules are generalizations of Gale’s top trading cycles: In each step, a subset of neighboring objects are available for exchange and the next subset of available objects may depend on the exchanges performed previously, where the neighborhood is defined by the order that justifies single-peakedness.