Stable and envy-free lottery allocations for affordable housing
Affordable housing lotteries often enforce a rule preventing duplicate lottery entries that makes the model in Hylland and Zeckhauser (1979) (HZ) inapplicable. We revisit HZ and propose a new individually stable (IS) allocation that can be achieved by a Tickets algorithm and accommodate the rule. A...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
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Society for the Promotion of Mechanism and Institution Design
2023-12-01
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| Series: | Journal of Mechanism and Institution Design |
| Subjects: | |
| Online Access: |
http://www.mechanism-design.org/arch/v008-1/p_01.pdf
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| _version_ | 1827398252747554816 |
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| author | Zhan Wang Jinpeng Ma Hongwei Zhang |
| author_facet | Zhan Wang Jinpeng Ma Hongwei Zhang |
| author_sort | Zhan Wang |
| collection | DOAJ |
| description | Affordable housing lotteries often enforce a rule preventing duplicate lottery entries that makes the model in Hylland and Zeckhauser (1979) (HZ) inapplicable. We revisit HZ and propose a new individually stable (IS) allocation that can be achieved by a Tickets algorithm and accommodate the rule. A strictly envy-free (SEF) allocation is shown to be the unique IS and Pareto-optimal allocation, the outcome of the unique strong Nash equilibrium of a congestion game, and the unique Pseudo market equilibrium allocation in HZ. The algorithm always obtains the unique SEF allocation (if any) and fixes a designed flaw of existing lotteries. |
| first_indexed | 2024-03-08T19:26:53Z |
| format | Article |
| id | doaj.art-cce5528a1bae4f129a76901feb4f33a8 |
| institution | Directory Open Access Journal |
| issn | 2399-844X 2399-8458 |
| language | English |
| last_indexed | 2024-03-08T19:26:53Z |
| publishDate | 2023-12-01 |
| publisher | Society for the Promotion of Mechanism and Institution Design |
| record_format | Article |
| series | Journal of Mechanism and Institution Design |
| spelling | doaj.art-cce5528a1bae4f129a76901feb4f33a82023-12-26T08:27:26ZengSociety for the Promotion of Mechanism and Institution DesignJournal of Mechanism and Institution Design2399-844X2399-84582023-12-018115510.22574/jmid.2023.12.001jmi-v8i1a1Stable and envy-free lottery allocations for affordable housingZhan Wang0Jinpeng Ma1Hongwei Zhang2 Southwestern University of Finance and Economics, China Rutgers University-Camden, USA Sichuan University, China Affordable housing lotteries often enforce a rule preventing duplicate lottery entries that makes the model in Hylland and Zeckhauser (1979) (HZ) inapplicable. We revisit HZ and propose a new individually stable (IS) allocation that can be achieved by a Tickets algorithm and accommodate the rule. A strictly envy-free (SEF) allocation is shown to be the unique IS and Pareto-optimal allocation, the outcome of the unique strong Nash equilibrium of a congestion game, and the unique Pseudo market equilibrium allocation in HZ. The algorithm always obtains the unique SEF allocation (if any) and fixes a designed flaw of existing lotteries. http://www.mechanism-design.org/arch/v008-1/p_01.pdf affordable housinglottery allocationstickets algorithm |
| spellingShingle | Zhan Wang Jinpeng Ma Hongwei Zhang Stable and envy-free lottery allocations for affordable housing Journal of Mechanism and Institution Design affordable housing lottery allocations tickets algorithm |
| title | Stable and envy-free lottery allocations for affordable housing |
| title_full | Stable and envy-free lottery allocations for affordable housing |
| title_fullStr | Stable and envy-free lottery allocations for affordable housing |
| title_full_unstemmed | Stable and envy-free lottery allocations for affordable housing |
| title_short | Stable and envy-free lottery allocations for affordable housing |
| title_sort | stable and envy free lottery allocations for affordable housing |
| topic | affordable housing lottery allocations tickets algorithm |
| url |
http://www.mechanism-design.org/arch/v008-1/p_01.pdf
|
| work_keys_str_mv | AT zhanwang stableandenvyfreelotteryallocationsforaffordablehousing AT jinpengma stableandenvyfreelotteryallocationsforaffordablehousing AT hongweizhang stableandenvyfreelotteryallocationsforaffordablehousing |