Comparative statics in markets for indivisible goods
By: Andrew Caplin, John V. Leahy
Contributors: Leahy, John V.; National Bureau of Economic Research
Series: NBER working paper series -- working paper 16285; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 16285.
Publisher: National Bureau of Economic Research
Published: 2010
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "We complete the study of comparative statics initiated in Caplin and Leahy [2010], which introduced a new mathematical apparatus for understanding NTU allocation markets, as such covering the housing market and other markets for large indivisible goods.  We introduce homotopy methods to characterize how equilibrium changes in response to arbitrary parameter changes.  Generically, we show that there can be five and only five qualitatively distinct forms of market transition: Graft; Prune and Plant; Prune and Graft; Cycle and Reverse; and Shift and Replant.  Our path-following methods identify new algorithms for computing market equilibria"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 9/28/2010.

Includes bibliographical references.

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