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House allocation with existing tenants: an equivalence

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  • Sonmez, Tayfun
  • Utku Unver, M.

Abstract

In this paper we analyze two house allocation mechanisms each of which is designed to eliminate inefficiencies in real-life house allocation problems where there are both existing tenants and newcomers. The first mechanism chooses the unique core allocation of a "sister" exchange economy which is constructed by assigning each existing tenant her current house and randomly assigning each newcomer a vacant house. The second mechanism -top trading cycles mechanism- first chooses an ordering from a given distribution and next determines the final outcome as follows: Assign first agent her top choice, next agent her top choice among remaining houses and so on, until someone demands house of an existing tenant who is still in the line. At that point modify the queue by inserting her at the top and proceed. Similarly, insert any existing tenant who is not already served at the top of the queue once her house is demanded. Whenever a loop of existing tenants forms, assign each of them the house she demands and proceed. Our main result is that the core based mechanism is equivalent to an extreme case of the top trading cycles mechanism which orders newcomers before the existing tenants.

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Bibliographic Info

Article provided by Elsevier in its journal Games and Economic Behavior.

Volume (Year): 52 (2005)
Issue (Month): 1 (July)
Pages: 153-185

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Handle: RePEc:eee:gamebe:v:52:y:2005:i:1:p:153-185

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Web page: http://www.elsevier.com/locate/inca/622836

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  1. Ehlers, Lars & Klaus, Bettina & Papai, Szilvia, 2002. "Strategy-proofness and population-monotonicity for house allocation problems," Journal of Mathematical Economics, Elsevier, vol. 38(3), pages 329-339, November.
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Citations

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Cited by:
  1. M.Utku Unver, 2006. "Kidney Exchange with Good Samaritan Donors: A Characterization," Working Papers 255, University of Pittsburgh, Department of Economics, revised Jan 2006.
  2. Gershkov, Alex & Schweinzer, Paul, 2006. "When queueing is better than push and shove," Discussion Paper Series of SFB/TR 15 Governance and the Efficiency of Economic Systems 144, Free University of Berlin, Humboldt University of Berlin, University of Bonn, University of Mannheim, University of Munich.
  3. Yuji Fujinaka & Takuma Wakayama, 2008. "Secure Implementation in Shapley-Scarf Housing Markets," ISER Discussion Paper 0727, Institute of Social and Economic Research, Osaka University, revised Feb 2009.
  4. Alvin E. Roth, 2007. "Deferred Acceptance Algorithms: History, Theory, Practice, and Open Questions," NBER Working Papers 13225, National Bureau of Economic Research, Inc.
  5. Thomson, William, 2011. "Chapter Twenty-One - Fair Allocation Rules," Handbook of Social Choice and Welfare, in: K. J. Arrow & A. K. Sen & K. Suzumura (ed.), Handbook of Social Choice and Welfare, edition 1, volume 2, chapter 21, pages 393-506 Elsevier.
  6. Klaus, Bettina, 2008. "The coordinate-wise core for multiple-type housing markets is second-best incentive compatible," Journal of Mathematical Economics, Elsevier, vol. 44(9-10), pages 919-924, September.
  7. YIlmaz, Özgür, 2010. "The probabilistic serial mechanism with private endowments," Games and Economic Behavior, Elsevier, vol. 69(2), pages 475-491, July.
  8. Ekici, Özgün, 2013. "Reclaim-proof allocation of indivisible objects," Games and Economic Behavior, Elsevier, vol. 81(C), pages 1-10.
  9. John Hatfield, 2009. "Strategy-proof, efficient, and nonbossy quota allocations," Social Choice and Welfare, Springer, vol. 33(3), pages 505-515, September.
  10. Mihai Manea, 2008. "Random serial dictatorship and ordinally efficient contracts," International Journal of Game Theory, Springer, vol. 36(3), pages 489-496, March.
  11. Yan Chen & Tayfun S�nmez, 2002. "Improving Efficiency of On-Campus Housing: An Experimental Study," American Economic Review, American Economic Association, vol. 92(5), pages 1669-1686, December.
  12. YIlmaz, Özgür, 2011. "Kidney exchange: An egalitarian mechanism," Journal of Economic Theory, Elsevier, vol. 146(2), pages 592-618, March.
  13. YIlmaz, Özgür, 2009. "Random assignment under weak preferences," Games and Economic Behavior, Elsevier, vol. 66(1), pages 546-558, May.
  14. Ünver, M. Utku & Kesten, Onur & Kurino, Morimitsu & Hashimoto, Tadashi & Hirata, Daisuke, 2014. "Two axiomatic approaches to the probabilistic serial mechanism," Theoretical Economics, Econometric Society, vol. 9(1), January.

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