- Journal Article
We introduce new notions of priority-constrained efficiency and provide priority-constrained versions of the ordinal efficiency welfare theorem for school choice lotteries. Moreover, we show that a priority-constrained version of a cardinal second welfare theorem fails to hold, but can be restored for a relaxed notion of equilibrium with priority-specific prices. © 2020 Elsevier Inc. Show more
Journal / seriesGames and Economic Behavior
Pages / Article No.
SubjectMatching; Random assignments; Priority-based allocation; Constrained efficiency; Pseudo-Market
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