>The central point is that efficiency and fairness were in conflict. Allowing trading would make the outcome a bit more efficient: some students would get a better outcome. But it would come at a price. The price is that the system would be less fair.
Wow. It never occurred to me before that efficiency could create unfairness.
Is that sarcasm? I mean, the most "efficient" algorithm for distributing surplus money to citizens' bank-accounts would be to transfer the entire sum into the first person you see..
Wow. It never occurred to me before that efficiency could create unfairness.