A characterization of the Vickery rule in slot allocation problems

ISER DP No. 1120

15 Pages Posted: 5 Mar 2021

See all articles by Yu Zhou

Yu Zhou

affiliation not provided to SSRN; Graduate School of Economics, Kyoto University

Youngsub Chun

Seoul National University - School of Economics

Shigehiro Serizawa

Osaka University - Institute of Social and Economic Research (ISER)

Date Written: March 1, 2021

Abstract

We study the slot allocation problem where agents have quasi-linear single-peaked preferences over slots and identify the rules satisfying efficiency, strategy-proofness, and individual rationality. Since the quasi-linear single-peaked domain is not connected, the famous characterization of the Vickrey rule in terms of the three properties in Holmstrom (1979) cannot be applied. However, we are able to establish that on the quasi-linear single-peaked domain, the Vickrey rule is still the only rule satisfying efficiency, strategy-proofness, and individual rationality.

Keywords: Slot allocation problem, single-peakedness, efficiency, strategy-proofness, individual rationality, Vickrey rule

JEL Classification: C78, D44, D71

Suggested Citation

Zhou, Yu and Zhou, Yu and Chun, Youngsub and Serizawa, Shigehiro, A characterization of the Vickery rule in slot allocation problems (March 1, 2021). ISER DP No. 1120, Available at SSRN: https://ssrn.com/abstract=3798107 or http://dx.doi.org/10.2139/ssrn.3798107

Yu Zhou

affiliation not provided to SSRN

Graduate School of Economics, Kyoto University ( email )

Yoshida-Honmachi, Sakyo-ku, Kyoto
Kyoto, 606-8501
Japan

Youngsub Chun

Seoul National University - School of Economics ( email )

San 56-1, Silim-dong, Kwanak-ku
Seoul 151-742
Korea

Shigehiro Serizawa (Contact Author)

Osaka University - Institute of Social and Economic Research (ISER) ( email )

6-1 Mihogaoka
Ibaraki, Osaka 567-0047
Japan
+81 6 6879 8558 (Phone)
+81 6 6878 2766 (Fax)

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