To Sleep, Perchance to Dream: Prices for Funeral Homes in US States
The need for a proper burial is widely felt. This paper makes use of an original data set to explore the relationship between the prices of cemetery plots and the prices of housing. It considers a simple model where the services from both real estate and funeral homes enter individuals’ utility function, and derives testable propositions in order to analyse the relation between housing when alive and after death. The services from funeral homes and from conventional housing are complements in the households’ utility. On the other hand, the services from funeral homes are an inferior good: a lower personal income is associated with higher grave prices.
|Date of creation:||11 Jan 2013|
|Date of revision:||11 Jan 2013|
|Contact details of provider:|| Postal: CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma|
Web page: http://www.ceistorvergata.it
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|Order Information:|| Postal: CEIS - Centre for Economic and International Studies - Faculty of Economics - University of Rome "Tor Vergata" - Via Columbia, 2 00133 Roma|
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- David E. Harrington, 2007. "Markets: Preserving Funeral Markets with Ready-to-Embalm Laws," Journal of Economic Perspectives, American Economic Association, vol. 21(4), pages 201-216, Fall.
- Deaton,Angus & Muellbauer,John, 1980. "Economics and Consumer Behavior," Cambridge Books, Cambridge University Press, number 9780521296762, Diciembre.
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