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Un modelo logit mixto de tenencia de vivienda en Canarias

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  • RODRÍGUEZ HERNÁNDEZ, J.E.

    ()
    (Departamento de Economía Aplicada. Facultad de CC.EE. y Empresariales. Universidad de La Laguna.)

  • BARRIOS GARCÍA, J.A.

    ()
    (Departamento de Economía Aplicada. Facultad de CC.EE. y Empresariales. Universidad de La Laguna.)

Abstract

En este trabajo, empleando datos de corte transversal procedentes de la Encuesta de Presupuestos Familiares 1990/91, desarrollamos un modelo que persigue explicar las decisiones que adoptan los individuos de las Islas Canarias en materia de tenencia de vivienda, considerándose esta bajo cuatro supuestos: propiedad en el mercado libre, propiedad en el mercado de protección oficial, alquiler en el mercado libre, y, alquiler en el mercado de protección oficial. Para ello se elabora en primer lugar un modelo de precios hedónicos que no permite obtener una estimación de la valoración subjetiva que realiza la población sobre las diferentes características de la vivienda. Basándonos en este, procedemos a la estimación de un modelo logit mixto que aproxima las variables fundamentales que determinan la elección del régimen de tenencia. Los resultados obtenidos permiten superar los supuestos simplificadores propios de la familia de modelos logit más ampliamente utilizados hasta el momento en la modelización de la elección de tenencia de vivienda, el logit multinomial y anidado, y que se corresponden con las hipótesis de independencia de alternativas irrelevantes y homoscedasticidad. In this paper, using cross sectional data from the Encuesta de Presupuestos Familiares 1990/91, we develop a model that seeks to explain the individual decisions in housing tenure choice at the Canary Islands, being considered this one under four types: homeownership in the free-market, homeownership in the subsidised housing market, rent in the free-market, and, rent in the subsidised housing market. With this aim, we first elaborate a hedonic price model that allows us to obtain an estimation of the subjective valuation carried by the people on the different housing characteristics. After that, we proceed to estimate a mixed logit model to approximate the fundamental variables that determine the housing tenure choice. The results obtained permit us to overcome the simplifying assumptions underlying the family of logit models most widely utilized nowadays in the modelization of housing tenure choice, these are the multinomial and nested logit, in particular, the independence of irrelevant alternatives and the homoscedasticity hypotheses.

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Bibliographic Info

Article provided by Estudios de Economía Aplicada in its journal Estudios de Economía Aplicada.

Volume (Year): 21 (2003)
Issue (Month): (Abril)
Pages: 173-191

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Handle: RePEc:lrk:eeaart:21_1_1

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Related research

Keywords: Housing market; housing tenure choice; mixed logit.;

References

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  1. Henderson, J Vernon & Ioannides, Yannis M, 1983. "A Model of Housing Tenure Choice," American Economic Review, American Economic Association, American Economic Association, vol. 73(1), pages 98-113, March.
  2. V.A. Hajivassiliou & P. A. Ruud, 1993. "Classical Estimation Methods for LDV Models Using Simulation," Econometrics, EconWPA 9311002, EconWPA.
  3. Kenneth Train, 2003. "Discrete Choice Methods with Simulation," Online economics textbooks, SUNY-Oswego, Department of Economics, SUNY-Oswego, Department of Economics, number emetr2, Spring.
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  5. Daniel McFadden & Kenneth Train, 2000. "Mixed MNL models for discrete response," Journal of Applied Econometrics, John Wiley & Sons, Ltd., John Wiley & Sons, Ltd., vol. 15(5), pages 447-470.
  6. Brownstone, David & Train, Kenneth, 1999. "Forecasting new product penetration with flexible substitution patterns," University of California Transportation Center, Working Papers qt1j6814b3, University of California Transportation Center.
  7. Mervyn A. King, 1980. "An econometric model of tenure choice and demand for housing as a joint decision," NBER Chapters, National Bureau of Economic Research, Inc, in: Econometric Studies in Public Finance, pages 137-159 National Bureau of Economic Research, Inc.
  8. Bourassa Steven C., 1995. "A Model of Housing Tenure Choice in Australia," Journal of Urban Economics, Elsevier, vol. 37(2), pages 161-175, March.
  9. Lee, Lung-Fei & Trost, Robert P., 1978. "Estimation of some limited dependent variable models with application to housing demand," Journal of Econometrics, Elsevier, Elsevier, vol. 8(3), pages 357-382, December.
  10. Haurin Donald R. & Hendershott Patric H. & Kim Dongwook, 1994. "Housing Decisions of American Youth," Journal of Urban Economics, Elsevier, vol. 35(1), pages 28-45, January.
  11. David Hensher, 2001. "The valuation of commuter travel time savings for car drivers: evaluating alternative model specifications," Transportation, Springer, Springer, vol. 28(2), pages 101-118, May.
  12. King, Mervyn A., 1980. "An econometric model of tenure choice and demand for housing as a joint decision," Journal of Public Economics, Elsevier, Elsevier, vol. 14(2), pages 137-159, October.
  13. Borsch-Supan, Axel & Pollakowski, Henry O., 1990. "Estimating housing consumption adjustments from panel data," Journal of Urban Economics, Elsevier, vol. 27(2), pages 131-150, March.
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Cited by:
  1. Rodriguez, J. & Barrios, J., 2004. "Politica fiscal de vivienda en España y forma de tenencia de la vivienda habitual: una valoracion empirica a nivel provincial," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, Euro-American Association of Economic Development, vol. 4(2).
  2. Rodríguez Hernández, José E. & Barrios García, Javier A., 2007. "Estimación Microeconométrica de la Tenencia y Demanda de Vivienda en España según la Localización/Microeconometric Estimation of Tenune and Housing Demand in Spain Accoding to Location," Estudios de Economía Aplicada, Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 25, pages 453-484, Abril.

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