How to efficiently allocate houses under price controls?

We examine a housing market with price controls and show how the allocation problem can be solved through a price system. We demonstrate that the auction of Talman and Yang (2008) always generates a core allocation, thus resulting in a Pareto efficient and stable outcome.

MoreLess

Year of publication:	2015
Authors:	Andersson, Tommy ; Yang, Zaifu ; Zhang, Dongmo
Published in:	Economics Letters. - Elsevier, ISSN 0165-1765. - Vol. 130.2015, C, p. 97-99
Publisher:	Elsevier
Subject:	Ascending auction \| Price controls \| Core \| Pareto efficiency

More details

Type of publication:	Article
Classification:	C71 - Cooperative Games ; D44 - Auctions
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10011263423