A solution concept for housing market problems with externalities Articles
- Economics Bulletin Journal
- February 2011
International Standard Serial Number (ISSN)
Electronic International Standard Serial Number (EISSN)
- 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.