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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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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- Thomas. J. Nechyba, 1997.
"Existence of equilibrium and stratification in local and hierarchical Tiebout economies with property taxes and voting,"
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- Thomas J. Nechyba, 1996. "Existence of Equilibrium and Stratification in Local and Hierarchical Tiebout Economies with Property Taxes and Voting," NBER Technical Working Papers 0190, National Bureau of Economic Research, Inc.
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- Luis Corchón & Simon Wilkie, 1995. "Implementation Of The Walrasian Correspondence By Market Games," Working Papers. Serie AD 1995-02, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
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