A Housing Market with Cournot Competition and a Third Housing Sector

IF 3 Q1 ECONOMICS
T. Borgersen
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引用次数: 9

Abstract

This paper integrates a non-profit third-housing sector (THS) into a housing market with Cournot competition. The paper analyses the indirect effects of a THS on the aggregate housing market, on a commercial housing supplier and on the market adaption of households not embraced by the THS. While beneficial for households included in the THS, a question arises related to the indirect effects of a THS. The paper argues for crowding-out and higher house prices in the commercial housing market in response to a THS expansion. In addition, a THS also affects the strategic behaviour of the commercial housing supplier. Compared to a conventional Cournot housing market, a fixed THS housing supply changes the market structure from one where the housing supply of different housing providers are alternative to one-another, to a market structure where housing supply is complementary.
具有库诺竞争的住房市场与第三住房部门
本文将非营利的第三住房部门(THS)整合到具有库诺竞争的住房市场中。本文分析了THS对总住房市场、商品房供应商以及未被THS接受的家庭的市场适应的间接影响。虽然对纳入THS的家庭有利,但出现了一个与THS的间接影响有关的问题。本文认为,为了应对THS的扩张,商品房市场应该出现挤出和房价上涨。此外,THS还影响商品房供应商的战略行为。与传统的库诺住房市场相比,固定的THS住房供应改变了市场结构,从不同住房提供商的住房供应可以相互替代,转变为住房供应互补的市场结构。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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