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Rent Control with Rationing by Search Costs: A Note

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  • Thies, Clifford F

Abstract

This note derives the long-run implications of rent controls when rent-controlled apartments are implicitly rationed to tenants who are more efficient in searching for apartments in the controlled sector. Rent controls are shown to involve transfers that essentially are from some to other tenants, as well as dead-weight losses due to higher search costs that are borne by tenants. Key to this analysis the condition that, at the margin, rent plus the higher cost of search for a rent-controlled apartment must equal rent in the noncontrolled sector. Copyright 1993 by Kluwer Academic Publishers

Suggested Citation

  • Thies, Clifford F, 1993. "Rent Control with Rationing by Search Costs: A Note," The Journal of Real Estate Finance and Economics, Springer, vol. 7(2), pages 159-165, September.
  • Handle: RePEc:kap:jrefec:v:7:y:1993:i:2:p:159-65
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    Cited by:

    1. repec:spo:wpecon:info:hdl:2441/8988 is not listed on IDEAS
    2. Gabriel Desgranges & Étienne Wasmer, 2000. "Appariements sur le marché du logement," Annals of Economics and Statistics, GENES, issue 58, pages 253-287.
    3. Christos Constantatos, 2007. "Excessive Rents and Non-Compliance with Price Ceilings," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 5(2), pages 225-231.
    4. Nagy, John, 1997. "Do Vacancy Decontrol Provisions Undo Rent Control?," Journal of Urban Economics, Elsevier, vol. 42(1), pages 64-78, July.
    5. repec:spo:wpecon:info:hdl:2441/9023 is not listed on IDEAS
    6. Etienne Wasmer, 2005. "Housing market discrimination, housing regulations and intermediaries," Post-Print hal-01053551, HAL.

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