On the integration of Shapley-Scarf housing markets

• Tác giả: Rajnish Kunar, Kriti Manocha, Josue Ortega
• Ngôn ngữ: eng
• Ký hiệu phân loại: 307.336 *Residential use
• Thông tin xuất bản: 2020
• Bộ sưu tập: Metadata
• ID: 164245

Tóm tắt

Comment: Journal of Mathematical Economics, 2022We study the welfare consequences of merging Shapley--Scarf markets. Market integration can lead to large welfare losses and make the vast majority of agents worse-off, but is on average welfare-enhancing and makes all agents better off ex-ante. The number of agents harmed by integration is a minority when all markets are small or agents' preferences are highly correlated.