The Combinatorial Assignment Problem: Approximate Competitive Equilibrium from Equal Incomes

The Combinatorial Assignment Problem: Approximate Competitive Equilibrium from Equal Incomes

Journal of Political Economy, (2011): 119, no. 6, 1061-1103. [PDF]

Abstract

This paper proposes a new mechanism for combinatorial assignment—for example, assigning schedules of courses to students—based on an approximation to competitive equilibrium from equal incomes (CEEI) in which incomes are unequal but arbitrarily close together. The main technical result is an existence theorem for approximate CEEI. The mechanism is approximately efficient, satisfies two new criteria of outcome fairness, and is strategyproof in large markets. Its performance is explored on real data, and it is compared to alternatives from theory and practice: all other known mechanisms are either unfair ex post or manipulable even in large markets, and most are both manipulable and unfair.

Earlier Version

2010 Working Paper Version

The Combinatorial Assignment Problem: Approximate Competitive Equilibrium from Equal Incomes.
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Related Works

Wikipedia entry: Course allocation

Cognomos

Wikipedia entry: A-CEEI

Wikipedia entry: EF1

Wikipedia entry: Maximin share

Implementation at Wharton

The Wharton School, University of Pennsylvania..

Slides

Slides, Jerusalem Summer School (Summer 2014)

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Slides, Economic Theory Seminar

May 13, 2010. [PDF]

Job Market Talk Slides (Feb 2009)

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