A solution concept for housing market problems with externalities

Alfredo Salgado-Torres

Economics Bulletin, 2011, vol. 31, issue 1, 623-630

Abstract: Since the core of a housing market with externalities may be empty, we propose as a solution concept the set of allocations that satisfy two basic properties: Pareto efficiency and the No-regret condition. Our main result shows that for any instance of the housing market problem, there always exists at least one allocation that satisfies both properties.

Keywords: Housing markets; the core; externalities; Pareto efficiency; No-regret condition (search for similar items in EconPapers)
JEL-codes: C7 (search for similar items in EconPapers)
Date: 2011-02-17
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Citations: View citations in EconPapers (4)

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