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Contribution Details

Type Working Paper
Scope Discipline-based scholarship
Title Swaps on networks
Organization Unit
  • Marek Pycia
  • English
Institution SSRN eLibrary
Series Name SSRN
Number 2735524
ISSN 1556-5068
Number of Pages 6
Date 2016
Abstract Text A group of agents exchange discrete resources on a network without recourse to monetary transfers. Allowing for an arbitrary network structure, we show that there is a unique core outcome in the exchange problem. This unique outcome may be implemented via a natural extension of Gale’s Top Trading Cycle mechanism, which is shown to be the unique mechanism that is individually strategy-proof, Pareto efficient, and individually rational.
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Digital Object Identifier 10.2139/ssrn.2735524
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Keywords Networks, Top Trading Cycles, individual strategy-proofness, group strategy-proofness, Pareto efficiency, exchange without transfers