Abstract
Yu and Zhang (2020) propose a job rotation model to study rotation schemes that widely exist in real life. In the model agents’ rights to consume own endowments are restricted, but their rights to trade endowments are unrestricted. This poses an interesting contrast with the housing market model of Shapley and Scarf (1974). Recognizing restricted property right in the job rotation model, in this paper we define a solution called the rotation core in the same flavor of the core in the housing market model. It turns out that the rotation core is nonempty, single-valued, and found by a strategy-proof variant of Top Trading Cycle (TTC). This generalizes the well-known result that TTC finds the unique core allocation in the housing market model.
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