 Tiered Housing Allocation: an Experimental AnalysisJuan D. Carrillo and Saurabh Singhal No 8511, Working Paper from USC Lusk Center for Real Estate Abstract: We study in the laboratory, a variant of the house allocation with existing tenants problem where agents are partitioned into tiers with different privileges. Members of higher tiers receive their allocation before those in lower tiers and can also take the endowment of a member of a lower tier if they wish to. In this tiered environment, we evaluate the performance of the modified versions of three well-known mechanisms - the Top Trading Cycle (TTC), the Gale-Shapley (GS) and the Random Serial Dictatorship (RSD). For all three mechanisms, we find low rates of participation (around 40%), high rates of truthtelling conditional on participation (around 90%) and efficiency levels that are high (above 90%) but below full efficiency. Also, of the three novelties introduced in our experiment tiered structure, multiple matches and known priority queue- only the last one has an impact on choices, with subjects being significantly more likely to participate the higher their position in the queue. Finally, the majority of subjects who do not play according to the theory still follow discernible patterns of participation and preference revelation. Keywords: Housing; Tiered Housing; house allocation (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:luk:wpaper:8511 Access Statistics for this paper More papers in Working Paper from USC Lusk Center for Real Estate Contact information at EDIRC. |
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