Transferring Ownership of Public Housing to Existing Tenants: A Market Design Approach

Tommy Andersson, Lars Ehlers and Lars-Gunnar Svensson ()
Additional contact information
Lars-Gunnar Svensson : Department of Economics, Lund University, Postal: Department of Economics, School of Economics and Management, Lund University, Box 7082, S-220 07 Lund, Sweden, http://www.nek.lu.se/en/contact/senior

No 2015:12, Working Papers from Lund University, Department of Economics

Abstract: This paper explores a housing market with an existing tenant in each house and where the existing tenants initially rent their houses. The idea is to identify equilibrium prices for the housing market given the prerequisite that a tenant can buy any house on the housing market, including the one that he currently is possessing, or continue renting the house he currently is occupying. The main contribution is the identification of an individually rational, equilibrium selecting, and group non-manipulable price mechanism in a restricted preference domain that contains almost all preference profiles. In this restricted domain, the identified mechanism is the equilibrium selecting mechanism that transfers the maximum number of ownerships to the existing tenants. We also argue that the theoretical model represents an extension and an improvement of the U.K. Housing Act 1980 whose main objective is to transfer the ownership of the houses to the existing tenants.

Keywords: Existing tenants; equilibrium; minimum equilibrium prices; maximum trade; group non-manipulability; dynamic price process (search for similar items in EconPapers)
JEL-codes: C71 C78 D71 D78 (search for similar items in EconPapers)
Pages: 34 pages
Date: 2015-04-24
New Economics Papers: this item is included in nep-gth and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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http://project.nek.lu.se/publications/workpap/papers/wp15_12.pdf (application/pdf)

Related works:
Journal Article: Transferring ownership of public housing to existing tenants: A market design approach (2016)
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