Crès, H. and Moulin, H. (2001) Scheduling with opting out: improving upon random priority. Operations Research, 49(4), pp. 565-577.
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Publisher's URL: http://www.jstor.org/stable/3088587
Abstract
In a scheduling problem where agents can opt out, we show that the familiar Random Priority (RP) a rule can be improved upon by another mechanism dubbed Probabilistic Serial (PS). Both mechanisms are nonmanipulable in a strong sense, but the latter is Pareto superior to the former and serves a larger (expected number of agents. The PS equilibrium outcome is easier to compute than the RP outcome; on the other hand RP is easier to implement than PS. We show that the improvement of PS over RP is significant but small: at most a couple of percentage points in the relative welfare gain and the relative difference in quantity served. We conjecture that the latter never exceeds 8.33 %. Both gains vanish when the number of agents is large.
Item Type: | Articles |
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Status: | Published |
Refereed: | Yes |
Glasgow Author(s) Enlighten ID: | Moulin, Professor Herve |
Authors: | Crès, H., and Moulin, H. |
College/School: | College of Social Sciences > Adam Smith Business School > Economics |
Journal Name: | Operations Research |
ISSN: | 0030-364X |
ISSN (Online): | 1526-5463 |
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