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Equilibrium land use with collective housing developments: voting with feet and entrepreneurship

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  • Hideo Konishi

    (Boston College)

Abstract

In urban economics, the monocentric city model has been widely used to analyze equilibrium land use in a city. However, these models often treat housing and land interchangeably and do not explicitly consider collective housing developments. This paper revisits a closed-city monocentric model and presents a framework for analyzing equilibrium land use, allowing for multiple types of housing developments, various consumer types, and arbitrary local government regulations on development. Our equilibrium concept, free-entry equilibrium, is a feasible allocation in which it is not possible to find a profitable housing development with an amenity/pricing policy that can attract tenant residents. To establish a foundation for the analysis, we prove the existence and (constrained) efficiency of the free-entry equilibrium in this model, incorporating local externalities and joint production of housing within each housing development, under minimal assumptions—continuity of utility and cost functions, and compact feasible sets.

Suggested Citation

  • Hideo Konishi, 2025. "Equilibrium land use with collective housing developments: voting with feet and entrepreneurship," The Japanese Economic Review, Springer, vol. 76(4), pages 717-739, October.
    • Handle: RePEc:spr:jecrev:v:76:y:2025:i:4:d:10.1007_s42973-025-00213-9
    DOI: 10.1007/s42973-025-00213-9
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