A platform for research: civil engineering, architecture and urbanism
A platform for research: civil engineering, architecture and urbanism
The behavioural and welfare implications of housing demand under rationing
Abstract This study examines on United Kingdom budget data the sensitivity of policy and welfare conclusions to the introduction of quantity constraint on Housing demand within a utility consistent framework. The paper proposes a rationed demographic demand system, based on extension of the idea of virtual price, and presents evidence that such a model could prove useful in the precise estimation of equivalence scales on budget data with limited price variation. The demand parameter estimates and their welfare implications are quite sensitive to the introduction of rationed demand. Unlike in previous studies, the rationed demand system fails to reject linear preferences.
The behavioural and welfare implications of housing demand under rationing
Abstract This study examines on United Kingdom budget data the sensitivity of policy and welfare conclusions to the introduction of quantity constraint on Housing demand within a utility consistent framework. The paper proposes a rationed demographic demand system, based on extension of the idea of virtual price, and presents evidence that such a model could prove useful in the precise estimation of equivalence scales on budget data with limited price variation. The demand parameter estimates and their welfare implications are quite sensitive to the introduction of rationed demand. Unlike in previous studies, the rationed demand system fails to reject linear preferences.
The behavioural and welfare implications of housing demand under rationing
Ray, Ranjan (author)
1989
Article (Journal)
English
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