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Housing replacement in the presence of externalities

Published online by Cambridge University Press:  17 August 2016

Konrad Stahl
Konrad Stahl*
Affiliation:
Core, Louvain, Belgium and University of Dortmund, W.-Germany
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Extract

Much of the literature in housing and urban economics emphasizes the abundance of externalities, or neighborhood effects in cities, but little formal analysis has been conducted so far to take account of their impact on the allocation decisions of firms and consumers in urban space. This is true especially for analyses of the urban housing sector. In fact, the relevance of externalities on allocation decisions in this sector has been denied on theoretical grounds especially by Mills [1] and Muth[2] although empirical analyses, e.g. by Kain and Quigley [3], [4] or Bourne [5] tend to confirm their importance.

Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 42 , Issue 3 , September 1976 , pp. 199 - 224
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 1976 

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Footnotes

*

The present paper is a revised version of parts of a chapter of my PH.D. thesis finished in 1974 at the University of California at Berkerley, with the Support of Grant NSF-GK - 10656 X 3. The revision has been done while being a guest at CORE, Louvain. I would like to thank W. Alonso, J. Paelinck, M. Teitz, J. Thisse and P.P. Varaiya for helpful advice.

References

REFERENCES

1. Mills, E.S., Urban Economies, Glenview, III.: Scott, Foresman, 1972.Google Scholar
2. Muth, R.F., Cities and Housing, Chicago : University of Chicago Press, 1969.Google Scholar
3. Kain, J.F. and Quigley, J.M., «Measuring the Value of Housing Quality», J. Am. Stat. Assn., Vol. 65, No. 330 (June 1970), 532–548.10.1080/01621459.1970.10481102Google Scholar
4. Kain, J.F. and Quigley, J.M., «Evaluating the Quality of the Residential Environment», Environment and Planning, Vol. 2 (1970), pp. 23–32.Google Scholar
5. Bourne, L.S., Private Redevelopment of the Central City, Chicago: University of Chicago, Department of Geography Research Paper, No. 112, 1967.Google Scholar
6. Davis, O.A. and Whinston, A.B., «The Economics of Urban Renewal», in Wilson, J.Q., (ed.) Urban Renewal, Cambridge : MIT Press, 1967, 50–67.Google Scholar