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Public housing and the value of apartment quality to households

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  • Van Ommeren, Jos
  • Koopman, Marnix

Abstract

The application of hedonic price approaches to obtain estimates of the households' value of apartment characteristics is invalid for regulated housing markets such as public housing. We introduce and apply an alternative method that allows us to estimate the renters' marginal willingness to pay for apartment characteristics based on residential mobility. We focus on the households' marginal willingness to pay for quality of apartments. We find that, on average, households place a monetary value on quality which is close to the non-profit housing associations' costs of providing quality.

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Bibliographic Info

Article provided by Elsevier in its journal Regional Science and Urban Economics.

Volume (Year): 41 (2011)
Issue (Month): 3 (May)
Pages: 207-213

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Handle: RePEc:eee:regeco:v:41:y:2011:i:3:p:207-213

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Web page: http://www.elsevier.com/locate/regec

Related research

Keywords: Demand estimation Public housing Rental quality;

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References

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  1. Stephen Sheppard, 1998. "Hedonic Analysis of Housing Markets," Urban/Regional 9805001, EconWPA.
  2. Sims, David P., 2007. "Out of control: What can we learn from the end of Massachusetts rent control?," Journal of Urban Economics, Elsevier, vol. 61(1), pages 129-151, January.
  3. Häckner, Jonas & Nyberg, Sten, 1998. "Rent-Control and Prices of Owner Occupied Housing," Research Papers in Economics 1997:7, Stockholm University, Department of Economics.
  4. Janet Currie & Aaron Yelowitz, 1997. "Are Public Housing Projects Good for Kids?," NBER Working Papers 6305, National Bureau of Economic Research, Inc.
  5. Henley, Andrew, 1998. "Residential Mobility, Housing Equity and the Labour Market," Economic Journal, Royal Economic Society, vol. 108(447), pages 414-27, March.
  6. Jos Van Ommeren & Mihails Hazans, 2005. "The Workers' Value of the Remaining Employment Contract Duration," Tinbergen Institute Discussion Papers 05-069/3, Tinbergen Institute.
  7. Alan Manning, 2003. "The real thin theory: monopsony in modern labour markets," LSE Research Online Documents on Economics 20050, London School of Economics and Political Science, LSE Library.
  8. Ommeren, Jos van & Berg, Gerard J. van den & Gorter, Cees, 1998. "Estimating the marginal willingness to pay for commuting," Serie Research Memoranda 0046, VU University Amsterdam, Faculty of Economics, Business Administration and Econometrics.
  9. Edward L. Glaeser & Andrei Shleifer, 1998. "Not-For-Profit Entrepreneurs," Harvard Institute of Economic Research Working Papers 1852, Harvard - Institute of Economic Research.
  10. Gibbons, Stephen & Manning, Alan, 2006. "The incidence of UK housing benefit: Evidence from the 1990s reforms," Journal of Public Economics, Elsevier, vol. 90(4-5), pages 799-822, May.
  11. Richard Arnott, 1995. "Time for Revisionism on Rent Control?," Journal of Economic Perspectives, American Economic Association, vol. 9(1), pages 99-120, Winter.
  12. van Ommeren, Jos & Fosgerau, Mogens, 2008. "Workers' marginal costs of commuting," MPRA Paper 12010, University Library of Munich, Germany.
  13. Koning, Ruud H. & Ridder, Geert, 1997. "Rent assistance and housing demand," Journal of Public Economics, Elsevier, vol. 66(1), pages 1-31, October.
  14. Patrick Bajari & C. Lanier Benkard, 2005. "Demand Estimation with Heterogeneous Consumers and Unobserved Product Characteristics: A Hedonic Approach," Journal of Political Economy, University of Chicago Press, vol. 113(6), pages 1239-1276, December.
  15. Hosios, Arthur J, 1990. "On the Efficiency of Matching and Related Models of Search and Unemployment," Review of Economic Studies, Wiley Blackwell, vol. 57(2), pages 279-98, April.
  16. van den Berg, Gerard J, 1992. "A Structural Dynamic Analysis of Job Turnover and the Costs Associated with Moving to Another Job," Economic Journal, Royal Economic Society, vol. 102(414), pages 1116-33, September.
  17. Olsen, Edgar O. & Barton, David M., 1983. "The benefits and costs of public housing in New York City," Journal of Public Economics, Elsevier, vol. 20(3), pages 299-332, April.
  18. Moon, Choon-Geol & Stotsky, Janet G, 1993. "The Effect of Rent Control on Housing Quality Change: A Longitudinal Analysis," Journal of Political Economy, University of Chicago Press, vol. 101(6), pages 1114-48, December.
  19. Aki Kangasharju, 2010. "Housing Allowance and the Rent of Low-income Households," Scandinavian Journal of Economics, Wiley Blackwell, vol. 112(3), pages 595-617, 09.
  20. Timothy J. Gronberg & W. Robert Reed, 1994. "Estimating Workers' Marginal Willingness to Pay for Job Attributes Using Duration Data," Journal of Human Resources, University of Wisconsin Press, vol. 29(3), pages 911-931.
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Citations

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Cited by:
  1. Van Ommeren, Jos & Graaf-de Zijl, Marloes, 2013. "Estimating household demand for housing attributes in rent-controlled markets," Journal of Housing Economics, Elsevier, vol. 22(1), pages 11-19.
  2. Martijn B.W. Kobus & Jos N. van Ommeren & Hans R.A. Koster & Piet Rietveld, 2013. "Congestible Goods and Hoarding: A Test based on Students' Use of University Computers," Tinbergen Institute Discussion Papers 13-083/VIII, Tinbergen Institute.

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