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Social and Behavioral Sciences Commons™
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Full-Text Articles in Social and Behavioral Sciences
Allocating Vehicle Registration Permits, Massimiliano Landi, Domenico Menicucci
Allocating Vehicle Registration Permits, Massimiliano Landi, Domenico Menicucci
Research Collection School Of Economics
We compare social welfare, consumer surplus and profits in two different institutional settings in which an item whose quantity is fixed and controlled (vehicle registration permit) is allocated to the buyers of a complementary good (car). In the first setting, which resembles the way in which vehicle registration permits are allocated in Singapore, the central planner runs a uniform price auction for permits in which the consumers who bid the highest receive the permits and pay the highest losing bid. Then each winning consumer purchases a car from a seller. In the alternative setting, the central planner first allocates the …
Housing Markets Since Shapley And Scarf, Mustafa Oguz Afacan, Gaoji Hu, Jiangtao Li
Housing Markets Since Shapley And Scarf, Mustafa Oguz Afacan, Gaoji Hu, Jiangtao Li
Research Collection School Of Economics
Shapley and Scarf (1974) appeared in the first issue of the Journal of Mathematical Economics, and is one of the journal’s most impactful publications. As we approach the remarkable milestone of the journal’s 50th anniversary (1974–2024), this article serves as a commemorative exploration of Shapley and Scarf (1974) and the extensive body of literature that follows it.