Microtheory Seminar Series. "An Axiomatization of the Random Priority Rule"
Published: 21 January 2025
25 February 2025. Dr Christian Basteck, WZB Berlin Social Science Center
Dr Christian Basteck, WZB Berlin Social Science Center
"An Axiomatization of the Random Priority Rule"
Tuesday, 25 February 2025. 16:00-17:30
Room 141A, Adam Smith Business School
Abstract
We study the problem of assigning indivisible objects to agents where each is to receive at most one. To ensure fairness in the absence of monetary compensation, we consider random assignments. Random Priority, also known as Random Serial Dictatorship, is characterized by symmetry, ex-post efficiency and probabilistic (Maskin) monotonicity -- whenever preferences change so that a given deterministic assignment is ranked weakly higher by all agents, the probability of that assignment being chosen by a rule should be weakly larger. Probabilistic monotonicity implies strategy-proofness (in a stochastic dominance sense); for deterministic rules it coincides with Maskin monotonicity.
Bio
Christian Basteck's research interest include game theory, mechanism & market design, social choice, and fair allocation. He studied mathematics and economics in Berlin, spent 3 years as a postdoc in Brussels, and now works at the WZB Berlin Social Science Center.
For further information, please contact business-seminar-series@glasgow.ac.uk.
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First published: 21 January 2025