Shapley-Scarf住房市场一体化
On the integration of Shapley-Scarf housing markets
摘要：
我们研究的福利后果合并Shapley-Scarf市场。市场一体化可能导致大量的福利损失，使绝大多数代理人的情况更糟，但平均而言，福利提高，使所有代理人事前更好。当所有市场都很小或代理人的偏好高度相关时，受整合伤害的代理人数量是少数。
英文摘要：
We study the welfare consequences of merging Shapley--Scarf markets. Market integration can lead to large welfare losses and make the vast majority of agents worse-off, but is on average welfare-enhancing and makes all agents better off ex-ante. The number of agents harmed by integration is a minority when all markets are small or agents' preferences are highly correlated.
机构、总结、中文摘要均由AI分析而来，可能存在错误，请以论文正文为准。
