The Journal of Real Estate Finance and Economics
Volume 14, Issue 3, Article 6 (Abstract)
Title:	Multiple Listing Service Subsidies and Economic Efficiency
Author:	Geoffrey K. Turnbull
Abstract:	In an earlier article in this journal Sefton and Yavas (1995) conclude that subsidizing a monopoly multiple listing service (MLS) can be efficient when the curvature of the representative consumer's demand function leads to over-shifting. This paper extends their analysis to a multiple-consumer demand model. It shows that, for the generalized demand configuration considered here, there is in general no Pareto superior MLS subsidy supportable by nondiscriminatory MLS consumer taxes when the Pareto ranking is imposed without the Hicks-Kaldor compensation principle.
Keywords:	multiple listing service, efficient subsidy