# Figure 10.15 shows a map of part of the Back Bay section of Boston. Suppose that the dark circles…

Figure 10.15 shows a map of part of the Back Bay section of Boston. Suppose that the dark circles labeled x, y, and z represent people living in apartments in Back Bay who want to rent parking spaces by the month for parking their cars. (Due to the density of buildings, these parking spaces may be a short walk from where they live, rather than right at their apartment.) The dark circles labeled a, b, and c represent parking spaces available for rent.

Let’s define the distance between a person and a parking space to be the number of blocks the person would have to walk from their apartment to the parking space.

Thus, for example, z is at a distance of 2 from space c, whereas y is at a distance of 5 from c and x is at a distance of 6 from c. (We ignore the fact that the block between Gloucester and Hereford is a bit shorter than the others; all blocks are treated as the same in counting distance.)

Suppose that a person has a valuation for a potential parking space equal to

(Notice that this formula gives higher valuations to closer parking spaces.) In terms of these valuations, we’d like to think about prices that could be charged for the parking spaces.

(a) Describe how you would set up this question as a matching market in the style of Chapter 10. Say who the sellers and buyers would be in your setup, as well as the valuation each buyer has for the item offered by each seller.

(b) Describe what happens if we run the bipartite-graph auction procedure from Chapter 10 on the matching market you set up in part (a) by saying what the prices are at the end of each round of the auction, including what the final market-clearing prices are when the auction comes to an end..

[Note: In some rounds, you may notice that there are multiple choices for the constricted set of buyers. Under the rules of the auction, you can choose any such constricted set. It’s interesting to consider – though not necessary for this question – how the eventual set of market-clearing prices depends on how one chooses among the possible constricted sets.]

(c) At a more informal level, how do the prices you determined for the parking spaces in part (b) relate to the intuitive “attractiveness” these spaces would have for the people in apartments x, y, and z? Explain.

Calculate the price
Pages (550 words)
\$0.00
*Price with a welcome 15% discount applied.
Pro tip: If you want to save more money and pay the lowest price, you need to set a more extended deadline.
We know how difficult it is to be a student these days. That's why our prices are one of the most affordable on the market, and there are no hidden fees.

Instead, we offer bonuses, discounts, and free services to make your experience outstanding.
How it works
Receive a 100% original paper that will pass Turnitin from a top essay writing service
step 1
Fill out the order form and provide paper details. You can even attach screenshots or add additional instructions later. If something is not clear or missing, the writer will contact you for clarification.
Pro service tips
How to get the most out of your experience with MyhomeworkGeeks
One writer throughout the entire course
If you like the writer, you can hire them again. Just copy & paste their ID on the order form ("Preferred Writer's ID" field). This way, your vocabulary will be uniform, and the writer will be aware of your needs.
The same paper from different writers
You can order essay or any other work from two different writers to choose the best one or give another version to a friend. This can be done through the add-on "Same paper from another writer."
Copy of sources used by the writer
Our college essay writers work with ScienceDirect and other databases. They can send you articles or materials used in PDF or through screenshots. Just tick the "Copy of sources" field on the order form.
Testimonials
See why 20k+ students have chosen us as their sole writing assistance provider
Check out the latest reviews and opinions submitted by real customers worldwide and make an informed decision.

Notice: Array to string conversion in /home/myhomeworkgeeks/myhomeworkgeeks.com/wp-content/themes/proxim-canyon/widgets/reviews.php on line 18
Array
The writer did not follow my choice of topic (Food/Water Insecurity, Hunger, & Poverty), the paper was instead written about Climate Change in Africa. However, the paper was still great and informative. Thank you!
Customer 0, January 28th, 2022

Notice: Array to string conversion in /home/myhomeworkgeeks/myhomeworkgeeks.com/wp-content/themes/proxim-canyon/widgets/reviews.php on line 18
Array
Although it took 2 revisions I am satisfied but I did receive it late because of that.
Customer 0, March 25th, 2021

Notice: Array to string conversion in /home/myhomeworkgeeks/myhomeworkgeeks.com/wp-content/themes/proxim-canyon/widgets/reviews.php on line 18
Array
Paper is great. Just only needed the one reference. Thank you
Customer 0, May 4th, 2022

Notice: Array to string conversion in /home/myhomeworkgeeks/myhomeworkgeeks.com/wp-content/themes/proxim-canyon/widgets/reviews.php on line 18
Array
Always great! My son has been in critical health these last few semesters. Many times I have thought he wasn't going to make it and thought about quitting or postponing school until he was healthier but it always happens to be in the middle of the semester. This service has been a lifesaver for my mindset in helping keep my grades up and keep my son alive at the same time. I don't know if I could have made it through this period without it.
Customer 0, June 6th, 2022

Notice: Array to string conversion in /home/myhomeworkgeeks/myhomeworkgeeks.com/wp-content/themes/proxim-canyon/widgets/reviews.php on line 18
Array
Customer 0, January 15th, 2022

Notice: Array to string conversion in /home/myhomeworkgeeks/myhomeworkgeeks.com/wp-content/themes/proxim-canyon/widgets/reviews.php on line 18
Array
awesome work
Customer 0, June 15th, 2022

Notice: Array to string conversion in /home/myhomeworkgeeks/myhomeworkgeeks.com/wp-content/themes/proxim-canyon/widgets/reviews.php on line 18
Array
Thank you very much for a good job done and a quick turn around time.
Customer 0, March 31st, 2021

Notice: Array to string conversion in /home/myhomeworkgeeks/myhomeworkgeeks.com/wp-content/themes/proxim-canyon/widgets/reviews.php on line 18
Array
Awesome paper in such a short amount of time. Was in a jam with another service who didn't deliver, but Theresa did the job correctly. I will use her again to do my essays for sure!
Customer 0, November 27th, 2021

Notice: Array to string conversion in /home/myhomeworkgeeks/myhomeworkgeeks.com/wp-content/themes/proxim-canyon/widgets/reviews.php on line 18
Array
N/A
Customer 0, May 23rd, 2022

Notice: Array to string conversion in /home/myhomeworkgeeks/myhomeworkgeeks.com/wp-content/themes/proxim-canyon/widgets/reviews.php on line 18
Array
The paper was not accused of plagiarism and was written very well. I will let you know the grade once it is graded. Thank you
Customer 0, April 26th, 2021

Notice: Array to string conversion in /home/myhomeworkgeeks/myhomeworkgeeks.com/wp-content/themes/proxim-canyon/widgets/reviews.php on line 18
Array
Paper much better compared to the one prior revision request. References need to be no more than the past 5 years.
Customer 0, July 20th, 2021

Notice: Array to string conversion in /home/myhomeworkgeeks/myhomeworkgeeks.com/wp-content/themes/proxim-canyon/widgets/reviews.php on line 18
Array
Thank you so much for your help! :)
Customer 0, May 11th, 2022
11,595
Customer reviews in total
96%
Current satisfaction rate
3 pages
Average paper length
37%
Customers referred by a friend
OUR GIFT TO YOU
15% OFF your first order
Use a coupon FIRST15 and enjoy expert help with any task at the most affordable price.
Claim my 15% OFF Order in Chat

Are You Looking For Assignment Help? We Can Certainly Assist You