Seslen, Tracey; Wheaton, William C.; Pollakowksi, Henry O. - Lusk Center for Real Estate, Marshall School of Business - 2005
This research unites the two major strands of work that exist to date in the literature on Housing Markets. The first is the notion of spatial equilibrium wherein consumers inhabiting different units are thought to be at a constant utility level. As a consequence prices "compensate" for...