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Paper eres2013_262:
Households' Willingness to Pay and Matching in Regulated Housing Markets

id eres2013_262
authors van Ommeren, Jos N.; Arno van der Vlist
year 2013
title Households' Willingness to Pay and Matching in Regulated Housing Markets
source 20th Annual European Real Estate Society Conference in Vienna, Austria
summary We introduce a methodology to estimate the households' marginal willingness to pay for housing characteristics in regulated housing markets, where houses and households are matched using queueing time. For the Amsterdam Metropolitan area, the households' marginal willingness to pay for the market value of public housing, so the value when sold in the private market, is estimated. We find that the annual marginal willingness to pay for the market value is close to the annual capitalisation rate applicable to investments in housing. We provide evidence of random, and therefore inefficient, matching between households and public houses with long queueing times.
keywords Nonmarket allocation mechanism, Public housing, Queueing time model, Choice-based allocation, Rent control
series ERES:conference
type paper session
email a.j.van.der.vlist@rug.nl
more http://library.eres.org/cgi-bin/rsa98.pl?conf=ERES2013&type=session&theme=D&slot=4704
discussion No discussions. Post discussion ...
ratings
session D-1: Housing Markets & Economics
last changed 2014/10/21 21:51
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