Duality in comparative statics in rental housing markets with indivisibilities

Mamoru Kaneko; Tamon Ito; Yu Ichi Osawa

doi:10.1016/j.jue.2005.09.005

Duality in comparative statics in rental housing markets with indivisibilities

Mamoru Kaneko^*, Tamon Ito, Yu Ichi Osawa

^*Corresponding author for this work

Research output: Contribution to journal › Article › peer-review

9 Citations (Scopus)

Abstract

We present certain duality results on comparative statics on competitive rent vectors in the rental housing market model. In the model, apartments as indivisible goods are classified into a finite number of categories, and are traded for one composite commodity. Our concern is about certain general properties of the behavior of rents with parameter changes. In particular, the rent changes are intimately related to the boundary income changes of the categories of apartments. Both changes are endogenously determined in equilibrium. We will show that these changes exhibit nice dual structures. We will also apply our model and comparative statics to a rental housing market in the Tokyo metropolitan area.

Original language	English
Pages (from-to)	142-170
Number of pages	29
Journal	Journal of Urban Economics
Volume	59
Issue number	1
DOIs	https://doi.org/10.1016/j.jue.2005.09.005
Publication status	Published - 2006 Jan
Externally published	Yes

Keywords

Apartment
Comparative statics
Competitive equilibrium
Duality
Indivisible goods
Rent equation
Rental housing

ASJC Scopus subject areas

Economics and Econometrics

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1016/j.jue.2005.09.005

Cite this

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title = "Duality in comparative statics in rental housing markets with indivisibilities",

abstract = "We present certain duality results on comparative statics on competitive rent vectors in the rental housing market model. In the model, apartments as indivisible goods are classified into a finite number of categories, and are traded for one composite commodity. Our concern is about certain general properties of the behavior of rents with parameter changes. In particular, the rent changes are intimately related to the boundary income changes of the categories of apartments. Both changes are endogenously determined in equilibrium. We will show that these changes exhibit nice dual structures. We will also apply our model and comparative statics to a rental housing market in the Tokyo metropolitan area.",

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year = "2006",

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AU - Kaneko, Mamoru

AU - Ito, Tamon

AU - Osawa, Yu Ichi

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N2 - We present certain duality results on comparative statics on competitive rent vectors in the rental housing market model. In the model, apartments as indivisible goods are classified into a finite number of categories, and are traded for one composite commodity. Our concern is about certain general properties of the behavior of rents with parameter changes. In particular, the rent changes are intimately related to the boundary income changes of the categories of apartments. Both changes are endogenously determined in equilibrium. We will show that these changes exhibit nice dual structures. We will also apply our model and comparative statics to a rental housing market in the Tokyo metropolitan area.

AB - We present certain duality results on comparative statics on competitive rent vectors in the rental housing market model. In the model, apartments as indivisible goods are classified into a finite number of categories, and are traded for one composite commodity. Our concern is about certain general properties of the behavior of rents with parameter changes. In particular, the rent changes are intimately related to the boundary income changes of the categories of apartments. Both changes are endogenously determined in equilibrium. We will show that these changes exhibit nice dual structures. We will also apply our model and comparative statics to a rental housing market in the Tokyo metropolitan area.

KW - Apartment

KW - Comparative statics

KW - Competitive equilibrium

KW - Duality

KW - Indivisible goods

KW - Rent equation

KW - Rental housing

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DO - 10.1016/j.jue.2005.09.005

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JO - Journal of Urban Economics

JF - Journal of Urban Economics

IS - 1

ER -

Duality in comparative statics in rental housing markets with indivisibilities

Abstract

Keywords

ASJC Scopus subject areas

UN SDGs

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