Sequential Rules for House Allocation with Price Restrictions

Tommy Andersson and Lars-Gunnar Svensson ()
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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 2015:18, Working Papers from Lund University, Department of Economics

Abstract: This paper considers a housing market with price restrictions. On such market, price equilibrium may be excluded for certain preference profiles. However, the existence of a unique minimal rationing price equilibrium has previously been established on a general preference domain that contains “almost all” preference profiles. This type of equilibrium has been demonstrated to be an important ingredient in a direct and strategy-proof allocation mechanism for housing markets with price restrictions. The main contribution of this paper is to provide a finite ascending price sequence that terminates to a minimal rationing price equilibrium. This sequence is demonstrated to play a key-role in an Iterative English Auction Rule for housing markets with price restrictions.

Keywords: Rationing Price Equilibrium; (Extended) English Price Sequences; Iterative English Auction Rule (search for similar items in EconPapers)
JEL-codes: C78 D44 D45 (search for similar items in EconPapers)
Pages: 36 pages
Date: 2015-06-10, Revised 2017-10-11
New Economics Papers: this item is included in nep-gth and nep-ure
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Journal Article: Sequential rules for house allocation with price restrictions (2018)
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Persistent link: https://EconPapers.repec.org/RePEc:hhs:lunewp:2015_018

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