e. Next, suppose that the way rent-controlled apartments are allocated is through a lottery. Whoever wants to
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e. Next, suppose that the way rent-controlled apartments are allocated is through a lottery. Whoever wants to rent a rent-controlled apartment can enter his or her name in the lottery, and the mayor picks randomly as many names as there are apartments. Suppose the winners can sell their right to live in a rent-controlled apartment to anyone who agrees to buy that right at whatever price they can agree on. Who do you think will end up living in the rent-controlled apartments (compared to who lived there under the previous policies)?
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Related Book For
Microeconomics An Intuitive Approach With Calculus
ISBN: 9781337335652,9781337027632
2nd Edition
Authors: Thomas Nechyba
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