On the Duality of Opportunity and Price in a Multisectoral Model of an Urban Housing Market

Datos Bibliográficos

ID4139560
AutoresPhilip C Emmi (University of Utah, autor de correspondencia)
Año1984
Volumen16
Número5
Páginas615-628
Fecha de publicación1984-05-01
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaEnvironment and Planning A Economy and Space (JOURNAL)
Identificadores de la revistaISSN: 0308-518X • E-ISSN: 1472-3409
EditorialSAGE Publications Inc (PUBLISHER)
DOI10.1068/a160615
OpenAlexW2033885919
IdiomaEN
Citas recibidas5
Referencias citadas12

Previously unrecognized relationships between housing opportunities, residential mobility, and housing prices are identified within a multisectoral model of vacancy transfers within a local housing market. The relationships are identified by presenting the vacancy-transfer model as a simple linear program. The primal program seeks a vector of vacancy transfers which minimizes the volume of new stock additions among market sectors required to satisfy a prespecified vector of primary vacancy demand. The dual program seeks a vector of shadow housing-prices which maximizes the value of units absorbed by primary demand while insuring that quasi-rents are driven to zero. Thus, a duality between vacancy transfers and housing price is identified, and the role of new stock development costs in housing price determination is defined

Economic rent · Economics · Geography · Mathematical optimization · Microeconomics · Shadow price · Vacancy defect · Housing Market and Economics · Mathematics