A solution concept for housing market problems with externalities

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.

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Year of publication:	2011
Authors:	Salgado-Torres, Alfredo
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 31.2011, 1, p. 623-630
Publisher:	AccessEcon
Subject:	Housing markets \| the core \| externalities \| Pareto efficiency \| No-regret condition

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	C7 - Game Theory and Bargaining Theory
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10008838386