Cover: Economic Analysis of Urban Housing Markets

Economic Analysis of Urban Housing Markets

A New Approach

Published 1977

by Bryan Ellickson, Barry Fishman, Peter A. Morrison

Download

Download eBook for Free

FormatFile SizeNotes
PDF file 2.3 MB

Use Adobe Acrobat Reader version 10 or higher for the best experience.

Purchase

Purchase Print Copy

 Format Price
Add to Cart Paperback74 pages $20.00

Develops a theoretical model of the housing market capable of incorporating a wide range of housing characteristics, and subjects the theory to an empirical test. To obtain a more realistic theory of housing markets than can be found in the literature, the analysis is placed within the context of hedonic price theory, which is used to derive a set of empirically estimable functions giving the probability that a house with a certain set of characteristics will be occupied by a household of a specified type. A wide variety of propositions can be tested: the effect of accessibility, lot and structure size, neighborhood quality, racial segregation, and the quality of local public services on the behavior of households categorized. The empirical model is applied to a sample of households in the San Francisco metropolitan area. The results provide a strong confirmation of the validity of the model.

This report is part of the RAND report series. The report was a product of RAND from 1948 to 1993 that represented the principal publication documenting and transmitting RAND's major research findings and final research.

This document and trademark(s) contained herein are protected by law. This representation of RAND intellectual property is provided for noncommercial use only. Unauthorized posting of this publication online is prohibited; linking directly to this product page is encouraged. Permission is required from RAND to reproduce, or reuse in another form, any of its research documents for commercial purposes. For information on reprint and reuse permissions, please visit www.rand.org/pubs/permissions.

RAND is a nonprofit institution that helps improve policy and decisionmaking through research and analysis. RAND's publications do not necessarily reflect the opinions of its research clients and sponsors.