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Alfredo Salgado-Torres
 
''A solution concept for housing market problems with externalities''
( 2011, Vol. 31 No.1 )
 
 
Since the core of a housing market with externalities may be empty, we propose as a solution concept the set of allocations that satisfy two basic properties: Pareto efficiency and the No-regret condition. Our main result shows that for any instance of the housing market problem, there always exists at least one allocation that satisfies both properties.
 
 
Keywords: Housing markets, the core, externalities, Pareto efficiency, No-regret condition
JEL: C7 - Game Theory and Bargaining Theory:General
 
Manuscript Received : Dec 24 2010 Manuscript Accepted : Feb 17 2011

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