Distributional Preferences for Market Design
Research Seminars: Virtual Market Design SeminarInstitutions selecting students, employees, or members value both about who is selected and the resulting group’s composition. The paper presented in this Virtual Market Design Seminar studies “distributional” preferences over group composition, and identifies an upper-bound property and two exchange prop erties. With the upper-bound property, the exchange properties are necessary and sufficient for two results: the greedy rule is the unique choice rule that is non-wasteful, distributionally maximal, and free of justified envy; it is also path independent. In matching markets, deferred acceptance is the unique mechanism satisfying the three axioms, individual rationality, and strategy-proofness. The authors' framework accommodates intersectional identities and subsumes models based on reserves and matroids.
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