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Linking a Housing Vacancy Chain Model and a Behavioral Choice Model for Improved Housing Policy Evaluation

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  • Hua, Chang-i

Abstract

This paper presents a linkage between the Markov Chain model of housing vacancy transfers and two types of behavioral choice model. First, it shows how vacancy transition probabilities can be computed from the estimated parameters in a household's choice model. Then it shows how the transition probabilities can be directly estimated from a model of the seller's choice of highest bid among households. The latter also provides information on the expected benefit of a household move among sectors of an urban housing market, which is indispensable in using the vacancy multiplier for policy evaluation.

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  • Hua, Chang-i, 1989. "Linking a Housing Vacancy Chain Model and a Behavioral Choice Model for Improved Housing Policy Evaluation," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 23(3), pages 203-211.
  • Handle: RePEc:spr:anresc:v:23:y:1989:i:3:p:203-11
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    1. E. Ray Canterbery, 1984. "Introduction," Journal of Post Keynesian Economics, M.E. Sharpe, Inc., vol. 7(1), pages 4-6, October.
    2. Smith, Tony E., 1976. "Spatial discounting and the gravity hypothesis," Regional Science and Urban Economics, Elsevier, vol. 6(4), pages 331-356, December.
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