A solution concept for housing market problems with externalities Articles uri icon

authors

  • SALGADO TORRES, ALFREDO

publication date

  • February 2011

start page

  • 623

end page

  • 630

issue

  • 1

volume

  • 31

International Standard Serial Number (ISSN)

  • 0029-1676

Electronic International Standard Serial Number (EISSN)

  • 1503-8831

abstract

  • 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.