【 The Digital Star Seminar Series No.19 】The Core in Housing Markets with Indifferent Preferences

Date: 13 May 2022 (Fri) 
Time: 3:00pm - 4:30pm (Hong Kong Time, UTC+8)
Platform: Tencent Meeting (ID 356-473-582)

Host: Prof. Miaojun Wang (School of Economics, Zhejiang University)

Presenter: Prof. Jun Zhang (The Nanjing Audit University)

Abstract：

In the housing market model, Shapley & Scarf (1974) and Roth & Postlewaite (1977) show that when agents’ preferences are not strict, the strong core may be empty, while the nonempty weak core may be inefficient and larger than the set of intuitively reasonable allocations. We solve this problem by proposing two new core concepts through rectifying behavioral assumptions on the participation of unaffected agents in blocking coalitions. The two cores are nonempty, efficient, and coincide with the strong core whenever the strong core is nonempty. We also generalize the concept of competitive allocations, and show that there exist competitive allocations in the two cores.

Intro to the Presenter:

Jun Zhang is a professor of economics at the Institute of social and economic studies of Nanjing Audit University and a doctor of economics at the California Institute of technology. His research fields are game theory, market design and behavioral economics. His research results have been published in American Economic Review, Journal of Economic Theory, Games and Economic Behavior, Economic Letters and other journals.

Organization：

- The Chinese University of Hong Kong-Zhejiang University Joint Research Center for Digital Economy

- China Digital Economy Research Center of School of Economics, Zhejiang University

- Zhejiang University Digital Economy Innovation Research Team

Intro to The Digital Star Seminar Series：

The Digital Star Seminar Series is co-hosted by the China Digital Economy Research Center of School of Economics, Zhejiang University, and the Chinese University of Hong Kong-Zhejiang University Joint Research Center for Digital Economy. This series of seminars will study the development of the digital economy and China's economic transformation based on the practice of China's digital transformation. We will invite domestic and overseas scholars to share and discuss the latest research on the digital economy and the Chinese economy. We hope that this academic platform can become a paradise for the study of the digital economy. More importantly, it can generate insights that significantly impact the digital economy and Chinese economy, which will help promote digital transformation and high-quality economic development in Chinese society.