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Transferring Ownership of Public Housing to Existing Tenants: A Market Design Approach

Listed author(s):
  • Andersson , Tommy

    ()

    (Department of Economics, Lund University)

  • Ehlers, Lars

    ()

    (Département de sciences économiques, Université de Montréal)

  • Svensson , Lars-Gunnar

    ()

    (Department of Economics, Lund University)

This paper explores a housing market with an existing tenant in each house and where the existing tenants initially rent their houses. The idea is to identify equilibrium prices for the housing market given the prerequisite that a tenant can buy any house on the housing market, including the one that he currently is possessing, or continue renting the house he currently is occupying. The main contribution is the identification of an individually rational, equilibrium selecting, and group non-manipulable price mechanism in a restricted preference domain that contains almost all preference profiles. In this restricted domain, the identified mechanism is the equilibrium selecting mechanism that transfers the maximum number of ownerships to the existing tenants. We also argue that the theoretical model represents an extension and an improvement of the U.K. Housing Act 1980 whose main objective is to transfer the ownership of the houses to the existing tenants.

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File URL: http://project.nek.lu.se/publications/workpap/papers/wp15_12.pdf
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Paper provided by Lund University, Department of Economics in its series Working Papers with number 2015:12.

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Length: 34 pages
Date of creation: 24 Apr 2015
Handle: RePEc:hhs:lunewp:2015_012
Contact details of provider: Postal:
Department of Economics, School of Economics and Management, Lund University, Box 7082, S-220 07 Lund,Sweden

Phone: +46 +46 222 0000
Fax: +46 +46 2224613
Web page: http://www.nek.lu.se/en

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  7. Tommy ANDERSSON & Lars EHLERS & Lars-Gunnar SVENSSON, 2014. "Transferring Ownership of Public Housing to Existing Tenants : A Mechanism Design Approach," Cahiers de recherche 09-2014, Centre interuniversitaire de recherche en économie quantitative, CIREQ.
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  19. Alkan, Ahmet & Demange, Gabrielle & Gale, David, 1991. "Fair Allocation of Indivisible Goods and Criteria of Justice," Econometrica, Econometric Society, vol. 59(4), pages 1023-1039, July.
  20. ANDERSSON, Tommy & EHLERS, Lars & LARS-GUNNAR, Svensson, 2014. "Transferring ownership of public housing to existing tenants: a mechanism design," Cahiers de recherche 2014-05, Universite de Montreal, Departement de sciences economiques.
  21. Miyagawa, Eiichi, 2001. "House Allocation with Transfers," Journal of Economic Theory, Elsevier, vol. 100(2), pages 329-355, October.
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