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Room assignment-rent division: A market approach

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Author Info
Atila Abdulkadiroglu () (Department of Economics, Columbia University)
Tayfun Sonmez () (Boston College - Department of Economics)
M. Utku Unver () (The University of Pittsburgh)

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Abstract

A group of friends consider renting a house but they shall first agree on how to allocate its rooms and share the rent. We propose an auction mechanism for room assignment-rent division problems which mimics the market mechanism. Our auction mechanism is efficient, envy-free, individually-rational and it yields a non-negative price to each room whenever that is possible with envy-freeness.

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Paper provided by Columbia University, Department of Economics in its series Discussion Papers with number 0102-11.

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Length: 28 pages
Date of creation: 2002
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Handle: RePEc:clu:wpaper:0102-11

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  1. Shapley, Lloyd & Scarf, Herbert, 1974. "On cores and indivisibility," Journal of Mathematical Economics, Elsevier, vol. 1(1), pages 23-37, March. [Downloadable!] (restricted)
  2. Francis Su, . "Rental Harmony: Sperner's Lemma in Fair Division," Claremont Colleges Working Papers 1999-10, Claremont Colleges. [Downloadable!]
  3. Claus-Jochen Haake & Matthias G. Raith & Francis Edward Su, 2002. "Bidding for envy-freeness: A procedural approach to n-player fair-division problems," Social Choice and Welfare, Springer, vol. 19(4), pages 723-749. [Downloadable!] (restricted)
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  4. Roth, Alvin E. & Sotomayor, Marilda, 1992. "Two-sided matching," Handbook of Game Theory with Economic Applications, in: R.J. Aumann & S. Hart (ed.), Handbook of Game Theory with Economic Applications, edition 1, volume 1, chapter 16, pages 485-541 Elsevier. [Downloadable!] (restricted)
  5. Miyagawa, Eiichi, 2001. "House Allocation with Transfers," Journal of Economic Theory, Elsevier, vol. 100(2), pages 329-355, October. [Downloadable!] (restricted)
  6. Tadenuma, Koichi & Thomson, William, 1991. "No-Envy and Consistency in Economies with Indivisible Goods," Econometrica, Econometric Society, vol. 59(6), pages 1755-67, November. [Downloadable!] (restricted)
  7. Steven J. Brams & D. Marc Kilgour, 2001. "Competitive Fair Division," Journal of Political Economy, University of Chicago Press, vol. 109(2), pages 418-443, April. [Downloadable!] (restricted)
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  8. Flip Klijn, 2000. "An algorithm for envy-free allocations in an economy with indivisible objects and money," Social Choice and Welfare, Springer, vol. 17(2), pages 201-215. [Downloadable!] (restricted)
  9. Svensson, Lars-Gunnar, 1983. "Large Indivisibles: An Analysis with Respect to Price Equilibrium and Fairness," Econometrica, Econometric Society, vol. 51(4), pages 939-54, July. [Downloadable!] (restricted)
  10. Roth, Alvin E., 1982. "Incentive compatibility in a market with indivisible goods," Economics Letters, Elsevier, vol. 9(2), pages 127-132. [Downloadable!] (restricted)
  11. Demange, Gabrielle & Gale, David & Sotomayor, Marilda, 1986. "Multi-Item Auctions," Journal of Political Economy, University of Chicago Press, vol. 94(4), pages 863-72, August. [Downloadable!] (restricted)
  12. Alkan, Ahmet & Demange, Gabrielle & Gale, David, 1991. "Fair Allocation of Indivisible Goods and Criteria of Justice," Econometrica, Econometric Society, vol. 59(4), pages 1023-39, July. [Downloadable!] (restricted)
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  1. Helmuts Azacis, 2004. "Double Implementation in a Market for Indivisible Goods with a Price Constraint," UFAE and IAE Working Papers 623.04, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC). [Downloadable!]
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