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Porträtt av Tommy Andersson. Foto.

Tommy Andersson

Professor

Porträtt av Tommy Andersson. Foto.

Sequential Rules for House Allocation with Price Restrictions

Författare

  • Tommy Andersson
  • Lars-Gunnar Svensson

Summary, in English

This paper considers a housing market with price restrictions. On such markets, the existence of a unique minimum rationing equilibrium price vector has been established for each preference profile on a general preference domain that contains almost all preference profiles. This vector can be used as a key ingredient in a direct and strategy-proof allocation mechanism. The main contribution of this paper is to provide two price sequences, one with increasing prices and one with decreasing prices, that both terminate to a minimal rationing equilibrium price vector in a finite number of steps. These sequences are demonstrated to play key-roles in an English auction and a Dutch auction, respectively, for the considered housing market with price restrictions.

Avdelning/ar

  • Nationalekonomiska institutionen

Publiceringsår

2015

Språk

Engelska

Publikation/Tidskrift/Serie

Working Paper / Department of Economics, School of Economics and Management, Lund University

Issue

18

Dokumenttyp

Working paper

Förlag

Department of Economics, Lund University

Ämne

  • Economics

Nyckelord

  • Price sequence
  • auction rules
  • rationing
  • rationing equilibrium price

Status

Published