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Public housing and the value of apartment quality to households

  • Van Ommeren, Jos
  • Koopman, Marnix

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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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
Contact details of provider: Web page: http://www.elsevier.com/locate/regec

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  1. 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.
  2. Bartik, Timothy J. & Butler, J. S. & Liu, Jin-Tan, 1992. "Maximum score estimates of the determinants of residential mobility: Implications for the value of residential attachment and neighborhood amenities," Journal of Urban Economics, Elsevier, vol. 32(2), pages 233-256, September.
  3. van Ommeren, Jos & Fosgerau, Mogens, 2008. "Workers' marginal costs of commuting," MPRA Paper 12010, University Library of Munich, Germany.
  4. Koning, R.H. & Ridder, G., 1993. "Rent Assistance and Housing Demand," Papers 544, Groningen State, Institute of Economic Research-.
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  7. Sheppard, Stephen, 1999. "Hedonic analysis of housing markets," Handbook of Regional and Urban Economics, in: P. C. Cheshire & E. S. Mills (ed.), Handbook of Regional and Urban Economics, edition 1, volume 3, chapter 41, pages 1595-1635 Elsevier.
  8. Henley, Andrew, 1998. "Residential Mobility, Housing Equity and the Labour Market," Economic Journal, Royal Economic Society, vol. 108(447), pages 414-27, March.
  9. Manning, Alan, 2003. "The real thin theory: monopsony in modern labour markets," Labour Economics, Elsevier, vol. 10(2), pages 105-131, April.
  10. Richard Arnott, 1995. "Time for Revisionism on Rent Control?," Journal of Economic Perspectives, American Economic Association, vol. 9(1), pages 99-120, Winter.
  11. Jos van Ommeren & Gerard J. van den Berg & Cees Gorter, 2000. "Estimating the Marginal Willingness to Pay for Commuting," Journal of Regional Science, Wiley Blackwell, vol. 40(3), pages 541-563.
  12. 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.
  13. 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.
  14. Häckner, Jonas & Nyberg, Sten, 1998. "Rent-Control and Prices of Owner Occupied Housing," Research Papers in Economics 1997:7, Stockholm University, Department of Economics.
  15. 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.
  16. Currie, Janet & Yelowitz, Aaron, 2000. "Are public housing projects good for kids?," Journal of Public Economics, Elsevier, vol. 75(1), pages 99-124, January.
  17. 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.
  18. 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.
  19. Jos Van Ommeren & Mihails Hazans, 2005. "The workers' value of the remaining employment contract duration," Labor and Demography 0506006, EconWPA.
  20. 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.
  21. 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.
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