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Secure Implementation in Shapley-Scarf Housing Markets

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  • Yuji Fujinaka
  • Takuma Wakayama

Abstract

This paper considers the object allocation problem introduced by Shapley and Scarf (1974). We study secure implementation (Saijo, Sjostrom, and Yamato, 2007), that is, double implementation in dominant strategy and Nash equilibria. We prove that (i) an individually rational solution is securely implementable if and only if it is the no-trade solution, (ii) a neutral solution is securely implementable if and only if it is a serial dictatorship, and (iii) an efficient solution is securely implementable if and only if it is a sequential dictatorship. Furthermore, we provide a complete characterization of securely implementable solutions in the two-agent case.

Suggested Citation

  • Yuji Fujinaka & Takuma Wakayama, 2008. "Secure Implementation in Shapley-Scarf Housing Markets," ISER Discussion Paper 0727r, Institute of Social and Economic Research, The University of Osaka, revised Feb 2009.
    • Handle: RePEc:dpr:wpaper:0727r
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