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investigates this specific tradeoff and identifies an allocation rule that is individually rational, equilibrium selecting, and … domain, the identified rule is the equilibrium selecting rule that transfers the maximum number of ownerships from the public …
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organizations. Unlike other equilibrium concepts in the literature, the largest number of organizations that is split up stable …
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For both policy makers and academic researchers it is an important concern whether or not low-income housing will become slum. The central issue of slum in both developing countries and developed countries is the lack of some local public goods such as security and sanitation. Hence, we propose...
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This paper develops a theoretical framework for analyzing the governance of low-income housing in the city. We focus on the provision of local public goods as the central issue for the governance of low-income housing. Governmental intervention in various forms is discussed. Factors that affect...
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-- lead to identical outcomes in equilibrium. Both approaches encourage agents to accept items that are marginal fits. We show …
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