Stochastic Housing Model with Random Constructions

In this article, a stochastic housing model of a city having various grades of houses and a random number of new constructions at each discrete time-interval is developed. Using the multi-type Galton-Watson process, a method for computing the means and variances of the number of houses in various grades of the city at discrete points of time is given. An application of this model is also demonstrated through real data.

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Year of publication:	1995
Authors:	Rao, K. Srinivasa ; Kumar, C.V.R.S. Vijaya
Published in:	Urban Studies. - Urban Studies Journal Limited. - Vol. 32.1995, 6, p. 971-974
Publisher:	Urban Studies Journal Limited

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

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