Consider the following house allocation problem. pl: B > A>C p2 : C>A>B p3: BCA Find...

Question

Question

Consider the following house allocation problem. pl: B > A>C p2 : C>A>B p3: BCA Find ALL Pareto efficient assignments of hous

Answer 1

Answer #1

Pareto efficient allocation are of many types :

HOUSE ALLOCATION

> where there are N agent and N houses

> Each agent has strict preferences of the house.

DESIRABLE ALLOCATION

> 3 agents 1 ,2 ,3 and 3 houses A , B, C

Diagram Explanation : -

PI: Pz : Pz : B c B > A G > A > B > C > A . 2

EFFICIENT ALLOCATION:-

In this allocationn the one get exhaused all the gain from the trade.

> Individual Responsibility

Diagram Explanation:-

ЯА Р: В 7 Az C P. cz A7 В з: в СА

Answer 2

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