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A Limiting Joint-Choice Model for Discrete and Continuous Housing Characteristics
Paul Blakley and Jan Ondrich
The Review of Economics and Statistics
Vol. 70, No. 2 (May, 1988), pp. 266-274
Published by: The MIT Press
Stable URL: http://www.jstor.org/stable/1928311
Page Count: 9
You can always find the topics here!Topics: Bedrooms, Housing, Urban economics, Prices, Economic models, Children, Households, Statistical models, Socioeconomics, Standard error
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A simultaneous discrete and continuous random utility model for housing demand is presented. Household utility depends on three characteristics of housing: a discrete number of bedrooms and continuous measures of housing quality and distance to the central business disdtrict. Empirical results for a sample of renter households from San Francisco are compared for a univariate structure in which each choice variable has its own utility or disutility function, a simultaneous structure assuming a discrete-continuous analog of the independence of irrelevant alternatives, and on for which this assumption is relaxed. The results indicate that the third structure is most appropriate.
The Review of Economics and Statistics © 1988 The MIT Press