Farsighted house allocation
AbstractIn this note we study von Neumann-Morgenstern farsightedly stable sets for Shapley and Scarf (1974) housing markets. Kawasaki (2010) shows that the set of competitive allocations coincides with the unique von Neumann-Morgenstern stable set based on a farsighted version of antisymmetric weak dominance (cf., Wako, 1999). We demonstrate that the set of competitive allocations also coincides with the unique von Neumann-Morgenstern stable set based on a farsighted version of strong dominance (cf., Roth and Postlewaite, 1977) if no individual is indifferent between his endowment and the endowment of someone else.
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Bibliographic InfoArticle provided by Elsevier in its journal Journal of Mathematical Economics.
Volume (Year): 46 (2010)
Issue (Month): 5 (September)
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Web page: http://www.elsevier.com/locate/jmateco
Housing markets Indivisible goods Farsightedness von Neumann-Morgenstern stable sets Top trading cycles Competitive allocations;
Other versions of this item:
- Bettina-Elisabeth Klaus & Flip Klijn & Markus Walzl, 2009. "Farsighted House Allocation," Harvard Business School Working Papers 09-129, Harvard Business School.
- Bettina Klaus & Flip Klijn & Markus Walzl, 2009. "Farsighted House Allocation," Working Papers 384, Barcelona Graduate School of Economics.
- D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
- D70 - Microeconomics - - Analysis of Collective Decision-Making - - - General
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