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The coordinate-wise core for multiple-type housing markets is second-best incentive compatible

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  • Klaus, B.E.

    (Microeconomics & Public Economics)

Abstract

We consider the generalization of Shapley and Scarf's (1974) [Shapley, L., Scarf's, H., 1974. On cores and indivisibility. Journal of Mathematical Economics 1, 23-37.] model of trading indivisible objects (houses) to so-called multiple-type housing markets. We show that the prominent solution for these markets, the coordinate-wise core rule, is second-best incentive compatible.
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  • Klaus, B.E., 2005. "The coordinate-wise core for multiple-type housing markets is second-best incentive compatible," Research Memorandum 019, Maastricht University, Maastricht Research School of Economics of Technology and Organization (METEOR).
    • Handle: RePEc:unm:umamet:2005019
    DOI: 10.26481/umamet.2005019
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    Cited by:

    1. Di Feng & Bettina Klaus, 2022. "Preference revelation games and strict cores of multiple‐type housing market problems," International Journal of Economic Theory, The International Society for Economic Theory, vol. 18(1), pages 61-76, March.
    2. Klaus, Bettina & Bochet, Olivier & Walzl, Markus, 2011. "A dynamic recontracting process for multiple-type housing markets," Journal of Mathematical Economics, Elsevier, vol. 47(1), pages 84-98, January.
    3. Biró, Péter & Klijn, Flip & Pápai, Szilvia, 2022. "Serial Rules in a Multi-Unit Shapley-Scarf Market," Games and Economic Behavior, Elsevier, vol. 136(C), pages 428-453.
    4. Hidekazu Anno & Hiroo Sasaki, 2013. "Second-best efficiency of allocation rules: strategy-proofness and single-peaked preferences with multiple commodities," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 54(3), pages 693-716, November.
    5. Monte, Daniel & Tumennasan, Norovsambuu, 2015. "Centralized allocation in multiple markets," Journal of Mathematical Economics, Elsevier, vol. 61(C), pages 74-85.
    6. Anno, Hidekazu & Kurino, Morimitsu, 2016. "On the operation of multiple matching markets," Games and Economic Behavior, Elsevier, vol. 100(C), pages 166-185.
    7. Feng, Di & Klaus, Bettina & Klijn, Flip, 2024. "Characterizing the typewise top-trading-cycles mechanism for multiple-type housing markets," Games and Economic Behavior, Elsevier, vol. 146(C), pages 234-254.
    8. Tayfun Sönmez & M. Utku Ünver, 2024. "Matching under Non-transferable Utility: Theory," Boston College Working Papers in Economics 1068, Boston College Department of Economics.
    9. BOCHET, Olivier & KLAUS, Bettina & WALZL, Markus, 2007. "Dynamic recontracting processes with multiple indivisible goods," LIDAM Discussion Papers CORE 2007061, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    10. William Thomson, 2018. "On the terminology of economic design: a critical assessment and some proposals," Review of Economic Design, Springer;Society for Economic Design, vol. 22(1), pages 67-99, June.
    11. Farooq, Bilal & Miller, Eric J., 2012. "Towards integrated land use and transportation: A dynamic disequilibrium based microsimulation framework for built space markets," Transportation Research Part A: Policy and Practice, Elsevier, vol. 46(7), pages 1030-1053.
    12. Di Feng & Bettina Klaus & Flip Klijn, 2022. "A Characterization of the Coordinate-Wise Top-Trading-Cycles Mechanism for Multiple-Type Housing Markets," Cahiers de Recherches Economiques du Département d'économie 22.06, Université de Lausanne, Faculté des HEC, Département d’économie.
    13. Di Feng, 2023. "Endowments-swapping-proofness and Efficiency in Multiple-Type Housing Markets," Discussion Paper Series DP2023-14, Research Institute for Economics & Business Administration, Kobe University.
    14. Di Feng, 2023. "Efficiency in Multiple-Type Housing Markets," Papers 2308.14989, arXiv.org, revised Dec 2023.
    15. Altuntaş, Açelya & Phan, William & Tamura, Yuki, 2023. "Some characterizations of Generalized Top Trading Cycles," Games and Economic Behavior, Elsevier, vol. 141(C), pages 156-181.
    16. Manjunath, Vikram & Westkamp, Alexander, 2021. "Strategy-proof exchange under trichotomous preferences," Journal of Economic Theory, Elsevier, vol. 193(C).
    17. Kawasaki, Ryo, 2015. "Roth–Postlewaite stability and von Neumann–Morgenstern stability," Journal of Mathematical Economics, Elsevier, vol. 58(C), pages 1-6.

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