We revisit the classical object reallocation problem under strict preferences. When attention is constrained to the set of Pareto-efficient rules, it is known that top trading cycles (TTC) is the only rule that is strategy-proof and individually rational. We relax this constraint and consider...

In the allocation of indivisible objects under weak priorities, a common practice is to break the ties using a lottery and randomize over deterministic mechanisms. Such randomizations usually lead to unfairness and inefficiency ex-ante. We propose and study the concept of ex-ante fairness for...

We study the allocation of indivisible objects under the general endowment structures proposed by Pápai (2000) – the consistent inheritance structures – which specify the initial endowment of objects and also the inheritance of remaining objects after subsets of agents are matched and...

We examine a bargaining game in which players cannot make arbitrary offers. Instead, players alternately decide whether to accept or delay, and are rewarded with an indivisible portion and a perishable transfer that depends on the round. Our analysis demonstrates that when the initial transfer...

Several structural results for the set of competitive equilibria in trading networks with frictions are established: The lattice theorem, the rural hospitals theorem, the existence of side-optimal equilibria, and a group-incentive-compatibility result hold with imperfectly transferable utility...

We study the problem of when to sell an indivisible object. There is a monopolistic seller who owns an indivisible object and plans to sell it over a given span of time to the set of potential buyers whose valuations for the object evolve over time. We formulate the seller's problem as a dynamic...

I suggest that the aggregate implications of indivisible labor are few, and subtle. First, I model behavior in an 'indivisible labor' environment like those of Diamond and Mirrlees (1978, 1986), Hansen (1985), Rogerson (1988), Christiano and Eichenbaum (1992) and show that aggregate behavior in...

We revisit the classical object reallocation problem under strict preferences. When attention is constrained to the set of Pareto-efficient rules, it is known that TTC is the only rule that is strategyproof and individually-rational. We hence relax this constraint and consider pair-efficiency. A...

Several structural results for the set of competitive equilibria in trading networks with frictions are established: The lattice theorem, the rural hospitals theorem, the existence of side-optimal equilibria, and a group-incentive-compatibility result hold with imperfectly transferable utility...

Assume two players, A and B, must divide a set of indivisible items that each strictly ranks from best to worst. If the number of items is even, assume that the players desire that the allocations be balanced (each player gets half the items), item-wise envy-free (EF), and Pareto-optimal (PO)....

Suppose two players wish to divide a finite set of indivisible items, over which each distributes a specified number of points. Assuming the utility of a player’s bundle is the sum of the points it assigns to the items it contains, we analyze what divisions are fair. We show that if there is...

The neoclassical theory of production supports the identity i.e. the Output-Labor ratio equals wage-labor ratio plus profit labor ratio. Here profit is treated as capital. The variables wage to labor ratio and capital to labor ratio are considered real variables in the neoclassical theory; so...

Strategy‐proofness (SP) is a sought‐after property in social choice functions because it ensures that agents have no incentive to misrepresent their private information at both the interim and ex post stages. Group strategy‐proofness (GSP), however, is a notion that is applied to the ex...

We identify a natural counterpart of the standard GARP for demand data in which goods are all indivisible. We show that the new axiom (DARP, for “discrete axiom of revealed preference”) is necessary and sufficient for the rationalization of the data by a well-behaved utility function. Our...

There are several locations, each of which is endowed with a resource that is specific to that location. Examples include coastal fisheries, oil fields, etc. Each agent will go to a single location and harvest some of the resource there. Several agents may go to each location. We assign...