Housing Market with Indivisibility
AbstractIn this paper we present a model of rental housing market in which houses are treated as indivisible commodities. We provide a recursive equation which determines a competitive equilibrium and argue that we can regard the competitive equilibrium as a representative of the set of all competitive equilibria. Using this representative equilibrium, we provide several propositions on comparative statics, that is, we consider how the competitive rents change when certain parameters of the model change.
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Bibliographic InfoPaper provided by Cowles Foundation for Research in Economics, Yale University in its series Cowles Foundation Discussion Papers with number 571.
Length: 44 pages
Date of creation: Dec 1980
Date of revision:
Publication status: Published in Journal of Urban Economics (1983), 13: 22-50
Note: CFP 571.
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Postal: Yale University, Box 208281, New Haven, CT 06520-8281 USA
Phone: (203) 432-3702
Fax: (203) 432-6167
Web page: http://cowles.econ.yale.edu/
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Postal: Cowles Foundation, Yale University, Box 208281, New Haven, CT 06520-8281 USA
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- Luis Corchón & Simon Wilkie, 1995.
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