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Bid Rents under Unemployment Risk : Delayed versus Timeless Uncertainty

Author

Listed:
  • EECKHOUDT, Louis

    (Catholic Faculties of Mons and Lille)

  • ZENOU, Yves

    (CORE, Université catholique de Louvain, B-1348 Louvain-la-Neuve, Belgium and ERMES, Université Panthéon-Assas)

Abstract

In this paper, we analyze the impact of uncertainty on the level and properties of the bid rent function. We show that these properties strongly depend upon the way in which uncertainty is introduced into the model (delayed versus timeless uncertainty). We also investigate the implication of income uncertainty for the city equilibrium.

Suggested Citation

  • EECKHOUDT, Louis & ZENOU, Yves, 1995. "Bid Rents under Unemployment Risk : Delayed versus Timeless Uncertainty," LIDAM Discussion Papers CORE 1995055, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
    • Handle: RePEc:cor:louvco:1995055
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    Cited by:

    1. Zenou, Yves, 2003. "Efficiency Wages, Urban Unemployment and Housing Consumption," Working Paper Series 606, Research Institute of Industrial Economics.
    2. Yves Zenou, 1996. "Marché du travail et économie urbaine. Essai d'intégration," Revue Économique, Programme National Persée, vol. 47(2), pages 263-288.

    More about this item

    JEL classification:

    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • R14 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General Regional Economics - - - Land Use Patterns

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