An equilibrium-econometric analysis of rental housing markets with indivisibilities

Mamoru Kaneko, Tamon Ito

    研究成果: Chapter

    抄録

    We develop a theory of an equilibrium-econometric analysis of rental housing markets with indivisibilities. It provides a bridge between a (competitive) market equilibrium theory and a statistical/econometric analysis. The listing service of apartments provides the information to both economic agents and an econometric analyzer: each economic agent uses a small part of the data from the service for his economic behavior, and the analyzer uses them to estimate the market structure. It is argued that the latter may be done by assuming that the economic agents take the standard price-taking behavior. We apply our theory to the data in the rental housing markets in the Tokyo area, and examine the law of diminishing marginal utility for household. It holds strictly with respect to the consumption, less with commuting time-distance, and much less with the sizes of apartments.

    本文言語English
    ホスト出版物のタイトルSpringer Optimization and Its Applications
    出版社Springer International Publishing
    ページ193-223
    ページ数31
    118
    DOI
    出版ステータスPublished - 2017

    出版物シリーズ

    名前Springer Optimization and Its Applications
    118
    ISSN(印刷版)19316828
    ISSN(電子版)19316836

    ASJC Scopus subject areas

    • Control and Optimization

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