Top trading cycles with reordering: improving match priority in school choice

School districts commonly ration public school seats based on students’ preferences and schools’ priorities. Priorities reflect the school districts’ objectives for reducing busing costs (walk-zone priority) or utilizing siblings’ learning spillovers (sibling priority). I develop a simple modification of the well-studied Top Trading Cycles mechanism that matches schools to higher priority students while preserving the mechanism’s desirable efficiency and incentives properties.