Econometrica Vol. 94 No. 5 2026

The Random Priority Mechanism Is Uniquely Simple, Efficient, and Fair

Marek Pycia¹; Peter Troyan²

¹ Department of Economics, University of Zurich () · ² Department of Economics, University of Virginia

Abstract

Random Priority is a popular mechanism used to allocate a set of objects to a set of agents without the use of monetary transfers. Random Priority is appealing because it satisfies desirable efficiency, fairness, and incentive properties. Is it the only mechanism with these properties? We answer this long‐standing question in the positive: Random Priority is the unique mechanism that is Pareto efficient, symmetric, and obviously strategy‐proof.

DOI

10.3982/ecta23230

Volume

94

Issue

5

Pages

1603-1650

Language

en

Sources

crossref

Cite

APA 7 MLA 9 Chicago (author–date) Harvard Elsevier Harvard (JFE, JBF…) The Accounting Review Academy of Management American Marketing Association INFORMS (Management Science) Copy citation Copied ✓