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Housing Market with Indivisibility

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  • Mamoru Kaneko

    (University of Tsukuba)

Abstract

In 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.

Suggested Citation

  • Mamoru Kaneko, 1980. "Housing Market with Indivisibility," Cowles Foundation Discussion Papers 571, Cowles Foundation for Research in Economics, Yale University.
    • Handle: RePEc:cwl:cwldpp:571
    Note: CFP 571.
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    File URL: https://cowles.yale.edu/sites/default/files/files/pub/d05/d0571.pdf
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    Cited by:

    1. Carmen Bevi?Author-Email: Carmen.Bevia@uab.es & Luis C. Corch?n & Simon Wilkie, "undated". "Implementation of the Walrasian Correspondence by Market Games," UFAE and IAE Working Papers 493.01, Unitat de Fonaments de l'Anàlisi Econòmica (UAB) and Institut d'Anàlisi Econòmica (CSIC).
    2. Thomas. J. Nechyba, 1997. "Existence of equilibrium and stratification in local and hierarchical Tiebout economies with property taxes and voting," Economic Theory, Springer;Society for the Advancement of Economic Theory (SAET), vol. 10(2), pages 277-304.

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