Determination of neighbourhood housing amenities: Asymmetric effects of consumers' choices and multiple equilibria. (9th February 2016)

• Record Type: Journal Article
• Authors: Takahashi, Takaaki
• Is Part Of: Papers in regional science. Volume 96:Number 3(2017)
• Page Start: 555
• Page End: 570
• Publication Date: 2016-02-09
• Subjects: Landscape -- multiple equilibria -- rent gradient -- spatial structure of a city -- urban amenities -- urban mosaic; Regional planning -- Periodicals; City planning -- Periodicals; Urbanization -- Periodicals; Economic geography -- Periodicals; 307.12
• DOI: 10.1111/pirs.12213
• Languages: English
• ISSNs: 1056-8190

Abstract

Abstract: This paper studies the sizes and rents of housing determined as a result of the choices of consumers whose utility depends on the level of housing amenities in their neighbourhood. The level is, in turn, determined by the sizes of housing there. It is shown that there emerges a possibility of multiple equilibria if the effect of each consumer's choice upon neighbourhood housing amenities is asymmetric.