Transferring Ownership of Public Housing to Existing Tenants: A Market Design Approach
(2015) In Working Paper / Department of Economics, School of Economics and Management, Lund University- Abstract
- 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... (More)
- 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. (Less)
Please use this url to cite or link to this publication:
https://lup.lub.lu.se/record/5364070
- author
- Andersson, Tommy LU ; Ehlers, Lars and Svensson, Lars-Gunnar LU
- organization
- publishing date
- 2015
- type
- Working paper/Preprint
- publication status
- published
- subject
- keywords
- Existing tenants, equilibrium, minimum equilibrium prices, maximum trade, group non-manipulability, dynamic price process
- in
- Working Paper / Department of Economics, School of Economics and Management, Lund University
- issue
- 12
- pages
- 34 pages
- publisher
- Department of Economics, Lund University
- language
- English
- LU publication?
- yes
- id
- a36bf237-1006-4f05-a2f1-3ba989ba3dc3 (old id 5364070)
- alternative location
- http://swopec.hhs.se/lunewp/abs/lunewp2015_012.htm
- date added to LUP
- 2016-04-04 11:21:40
- date last changed
- 2018-11-21 21:04:20
@misc{a36bf237-1006-4f05-a2f1-3ba989ba3dc3, abstract = {{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.}}, author = {{Andersson, Tommy and Ehlers, Lars and Svensson, Lars-Gunnar}}, keywords = {{Existing tenants; equilibrium; minimum equilibrium prices; maximum trade; group non-manipulability; dynamic price process}}, language = {{eng}}, note = {{Working Paper}}, number = {{12}}, publisher = {{Department of Economics, Lund University}}, series = {{Working Paper / Department of Economics, School of Economics and Management, Lund University}}, title = {{Transferring Ownership of Public Housing to Existing Tenants: A Market Design Approach}}, url = {{http://swopec.hhs.se/lunewp/abs/lunewp2015_012.htm}}, year = {{2015}}, }