IDEAS home Printed from https://ideas.repec.org/a/sae/urbstu/v20y1983i3p365-375.html
   My bibliography  Save this article

Market Structure and the Price of Housing Services

Author

Listed:
  • Francis J. Cronin

Abstract

While many aspects of housing markets have been extensively analysed, little empirical work has been undertaken on the supply of housing services. Despite this dearth of information, many researchers have characterised the supply of housing as being competitive. It is the intent of this article, therefore, to open up the discussion of the supply of housing services and to examine the extent of sellers' market concentration over a set of multifamily rental housing submarkets. New data on sellers' concentration are presented. A model to determine the effect of non-competitive firm behaviour on the price of housing services is specified and estimated. Results support the hypothesis that the supply of housing services may not be perfectly competitive.

Suggested Citation

  • Francis J. Cronin, 1983. "Market Structure and the Price of Housing Services," Urban Studies, Urban Studies Journal Limited, vol. 20(3), pages 365-375, August.
    • Handle: RePEc:sae:urbstu:v:20:y:1983:i:3:p:365-375
    DOI: 10.1080/00420988320080601
    as

    Download full text from publisher

    File URL: https://journals.sagepub.com/doi/10.1080/00420988320080601
    Download Restriction: no
    File URL: https://libkey.io/10.1080/00420988320080601?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. John F. Kain & John M. Quigley, 1975. "Housing Markets and Racial Discrimination: A Microeconomic Analysis," NBER Books, National Bureau of Economic Research, Inc, number kain75-1.
    2. G.C. Hufbauer & B.W. Severn, 1974. "The Economic Demolition of Old Buildings," Urban Studies, Urban Studies Journal Limited, vol. 11(3), pages 349-351, October.
    3. Eric A. Hanushek & John M. Quigley, 1978. "An Explicit Model of Intra-Metropolitan Mobility," Land Economics, University of Wisconsin Press, vol. 54(4), pages 411-429.
    4. John F. Kain & John M. Quigley, 1975. "Introduction to "Housing Markets and Racial Discrimination: A Microeconomic Analysis"," NBER Chapters, in: Housing Markets and Racial Discrimination: A Microeconomic Analysis, pages 1-8, National Bureau of Economic Research, Inc.
    5. John Perry Miller, 1955. "Measures of Monopoly Power and Concentration: Their Economic Significance," NBER Chapters, in: Business Concentration and Price Policy, pages 119-140, National Bureau of Economic Research, Inc.
    6. R. Cherry & E. J. Ford, 1975. "Concentration of Rental Housing Property and Rental Housing Markets in Urban Areas," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 3(1), pages 7-16, March.
    7. Mahlon R. Straszheim, 1975. "An Econometric Analysis of the Urban Housing Market," NBER Books, National Bureau of Economic Research, Inc, number stra75-1.
    8. David M. Blank & Louis Winnick, 1953. "The Structure of the Housing Market," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 67(2), pages 181-208.
    9. Tibor Scitovsky, 1955. "Economic Theory and the Measurement of Concentration," NBER Chapters, in: Business Concentration and Price Policy, pages 101-118, National Bureau of Economic Research, Inc.
    10. Phillips, Almarin, 1976. "A Critique of Empirical Studies of Relations between Market Structure and Profitability," Journal of Industrial Economics, Wiley Blackwell, vol. 24(4), pages 241-249, June.
    11. Hamilton, Bruce W., 1978. "Zoning and the exercise of monopoly power," Journal of Urban Economics, Elsevier, vol. 5(1), pages 116-130, January.
    12. John F. Kain & John M. Quigley, 1975. "Racial Discrimination in Urban Housing Markets," NBER Chapters, in: Housing Markets and Racial Discrimination: A Microeconomic Analysis, pages 56-91, National Bureau of Economic Research, Inc.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Siu Kei Wong & Ling Li & Paavo Monkkonen, 2019. "How do Developers Price New Housing in a Highly Oligopolistic City?," International Real Estate Review, Asian Real Estate Society, vol. 22(3), pages 309-333.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. George Galster, 1996. "William Grigsby and the Analysis of Housing Sub-markets and Filtering," Urban Studies, Urban Studies Journal Limited, vol. 33(10), pages 1797-1805, December.
    2. Peter D. Linneman & Isaac F. Megbolugbe, 1992. "Housing Affordability: Myth or Reality?," Urban Studies, Urban Studies Journal Limited, vol. 29(3-4), pages 369-392, May.
    3. Lora, Eduardo & Powell, Andrew, 2011. "A New Way of Monitoring the Quality of Urban Life," IDB Publications (Working Papers) 3806, Inter-American Development Bank.
    4. Isaac F. Megbolugbe & Marja C. Hoek-Smit & Peter D. Linneman, 1996. "Understanding Neighbourhood Dynamics: A Review of the Contributions of William G. Grigsby," Urban Studies, Urban Studies Journal Limited, vol. 33(10), pages 1779-1795, December.
    5. Hirschel Kasper, 1983. "Toward Estimating the Incidence of Journey-to-Work Costs," Urban Studies, Urban Studies Journal Limited, vol. 20(2), pages 197-208, May.
    6. Thomas P. Boehm, 1982. "A Hierarchical Model of Housing Choice," Urban Studies, Urban Studies Journal Limited, vol. 19(1), pages 17-31, February.
    7. John F. Kain, 2004. "A Pioneer's Perspective on the Spatial Mismatch Literature," Urban Studies, Urban Studies Journal Limited, vol. 41(1), pages 7-32, January.
    8. James R. Follain JR & Stephen Malpezzi, 1981. "Another Look at Racial Differences in Housing Prices," Urban Studies, Urban Studies Journal Limited, vol. 18(2), pages 195-203, June.
    9. R. Brian Webb & Mike Miles & David Guilkey, 1992. "Transactions‐Driven Commercial Real Estate Returns: The Panacea to Asset Allocation Models?," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 20(2), pages 325-357, June.
    10. Eli Borukhov & Yona Ginsberg & Elia Werczberger, 1978. "Housing Prices and Housing Preferences in Israel," Urban Studies, Urban Studies Journal Limited, vol. 15(2), pages 187-200, June.
    11. Charles L. Leven & Jonathan H. Mark, 1977. "Revealed Preferences for Neighbourhood Characteristics," Urban Studies, Urban Studies Journal Limited, vol. 14(2), pages 147-159, June.
    12. Kyu Sik Lee, 1985. "Decentralization Trends of Employment Location and Spatial Policies in LDC Cities," Urban Studies, Urban Studies Journal Limited, vol. 22(2), pages 151-162, April.
    13. Douglas B. Diamond JR, 1980. "Income and Residential Location: Muth Revisited," Urban Studies, Urban Studies Journal Limited, vol. 17(1), pages 1-12, February.
    14. Piyush Tiwari & Kirit Parikh & Jyoti Parikh, 1999. "Effective Housing Demand in Mumbai (Bombay) Metropolitan Region," Urban Studies, Urban Studies Journal Limited, vol. 36(10), pages 1783-1809, September.
    15. Frank M. Caccavallo, 1981. "Racial Discrimination: The Housing Market," The American Economist, Sage Publications, vol. 25(1), pages 43-52, March.
    16. Gill-Chin Lim & James Follain & Bertrand Renaud, 1980. "Determinants of Home-ownership in a Developing Economy: the Case of Korea," Urban Studies, Urban Studies Journal Limited, vol. 17(1), pages 13-23, February.
    17. Raymond Y. C. Tse & John Raftery, 1999. "Income elasticity of housing consumption in Hong Kong: a cointegration approach," Journal of Property Research, Taylor & Francis Journals, vol. 16(2), pages 123-138, January.
    18. Abdul Munasib & Donald Haurin, 2007. "Time to First Homeownership:Racial Differences, and the Impact of 1986 Tax Reform Act," Economics Working Paper Series 0701, Oklahoma State University, Department of Economics and Legal Studies in Business, revised 2007.
    19. Jarjisu Sa‐Aadu, 1984. "Another Look at the Economics of Demand‐Side Versus Supply‐Side Strategies in Low‐Income Housing," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 12(4), pages 427-460, December.
    20. Yong Tu & Hua Sun & Shi-Ming Yu, 2007. "Spatial Autocorrelations and Urban Housing Market Segmentation," The Journal of Real Estate Finance and Economics, Springer, vol. 34(3), pages 385-406, April.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:sae:urbstu:v:20:y:1983:i:3:p:365-375. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: SAGE Publications (email available below). General contact details of provider: http://www.gla.ac.uk/departments/urbanstudiesjournal .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.