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House Allocation with Overlapping Agents: A Dynamic Mechanism Design Approach

Author

Listed:
  • Morimitsu Kurino

    () (Max Planck Institute of Economics, Jena, Germany)

Abstract

Many real-life applications of house allocation problems are dynamic. For example, in the case of on-campus housing for college students, each year freshmen apply to move in and graduating seniors leave. Each student stays on campus for a few years only. A student is a "newcomer" in the beginning and then becomes an "existing tenant". Motivated by this observation, we introduce a model of house allocation with overlapping agents. In terms of dynamic mechanism design, we examine two representative static mechanisms of serial dictatorship (SD) and top trading cycles (TTC), both of which are based on an ordering of agents and give an agent with higher order an opportunity to obtain a better house. We show that for SD mechanisms, the ordering that favors existing tenants is better than the one that favors newcomers in terms of Pareto efficiency. Meanwhile, this result holds for TTC mechanisms under time-invariant preferences in terms of Pareto efficiency and strategy-proofness. We provide another simple dynamic mechanism that is strategy-proof and Pareto efficient.

Suggested Citation

  • Morimitsu Kurino, 2009. "House Allocation with Overlapping Agents: A Dynamic Mechanism Design Approach," Jena Economic Research Papers 2009-075, Friedrich-Schiller-University Jena.
  • Handle: RePEc:jrp:jrpwrp:2009-075
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    File URL: http://zs.thulb.uni-jena.de/receive/jportal_jparticle_00156979
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    Cited by:

    1. Francis Bloch & David Cantala, 2013. "Markovian assignment rules," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 40(1), pages 1-25, January.

    More about this item

    Keywords

    house allocation; overlapping agents; dynamic mechanism; top trading cycles; serial dictatorship;

    JEL classification:

    • C71 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Cooperative Games
    • C78 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Bargaining Theory; Matching Theory
    • D71 - Microeconomics - - Analysis of Collective Decision-Making - - - Social Choice; Clubs; Committees; Associations
    • D78 - Microeconomics - - Analysis of Collective Decision-Making - - - Positive Analysis of Policy Formulation and Implementation

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