Housing market models with consumption externalities

Maria Graziano, Claudia Meo () and Nicholas C. Yannelis ()
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Claudia Meo: Università di Napoli Federico II
Nicholas C. Yannelis: University of Iowa

CSEF Working Papers from Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy

Abstract: We analyze housing market models à la Shapley and Scarf with externalities in consumption; that is, agents care about others and their preferences are defined over allocations rather than over single indivisible goods. After collecting some negative results about the existence of several cooperative solutions, we focus on stable allocations and search for special domains of preferences that can guarantee that they both exist and form a stable set à la von Neumann and Morgenstern.

Keywords: Indivisible goods; other-regarding preferences; core; stable allocations; stable sets. (search for similar items in EconPapers)
JEL-codes: C70 C78 D51 D62 D64 (search for similar items in EconPapers)
Date: 2018-06-09
New Economics Papers: this item is included in nep-des and nep-gth
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