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Characterizations of the cumulative offer process

Afacan, Mustafa Oğuz Characterizations of the cumulative offer process. Social Choice and Welfare . ISSN 0176-1714 (Print) 1432-217X (Online) Published Online First http://dx.doi.org/10.1007/s00355-016-0981-0

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Official URL: http://dx.doi.org/10.1007/s00355-016-0981-0

Abstract

In the matching with contracts setting, we provide new axiomatic characterizations of the “cumulative offer process” ( COPCOP ) in the domain of hospital choice functions that satisfy “unilateral substitutes” and “irrelevance of rejected contracts.” We say that a mechanism is truncation-proof if no doctor can ever benefit from truncating his preferences. Our first result shows that the COPCOP is the unique stable and truncation-proof mechanism. Next, we say that a mechanism is invariant to lower-tail preference change if no doctor’s assignment changes after he changes his preferences over the contracts that are worse than his assignment. Our second result shows that a mechanism is stable and invariant to lower-tail preference change if and only if it is the COPCOP . Lastly, by extending Kojima and Manea’s (Econometrica 78:633–653, 2010) result, we show that the COPCOP is the unique stable and weakly Maskin monotonic mechanism. I am grateful to the associate editor and the anonymous referee for their through comments and suggestions. I thank Bertan Turhan for his comments. The author gratefully acknowledges the Marie Curie International Reintegration Grant (No: 618263) within the European Community Framework Programme and TÜBİTAK (The Scientific and Technological Research Council of Turkey) Grant (No: 113K763) within the National Career Development Program.

Item Type:Article
Subjects:H Social Sciences > HB Economic Theory > HB135-147 Mathematical economics. Quantitative methods
ID Code:29472
Deposited By:Mustafa Oğuz Afacan
Deposited On:03 Aug 2016 11:19
Last Modified:11 Nov 2016 22:08

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