This paper attempts, first by a simple numerical example and then by more rigorous mathematical methods, to investigate the important relationships between supply, demand, distribution, and price in the housing market. A theory of house price is linked to the derivation of home-workplace interaction models. A function for evaluating different distributions is derived and a possible linear programming approach to a marginal stock allocation model is discussed.
Get full access to this article
View all access options for this article.
References
1.
AlonsoW., 1964, Location and Land Use (Harvard Univerity Press, Cambridge, Mass.)
2.
HymanG. M., 1969, “The calibration of trip distribution models”, Environment and Planning, 1, 105
3.
KirwanR. M.MartinD. B., 1970, “The economic basis for models of the housing market”, CES-WP-62, Centre for Environmental Studies, London
4.
NeidercornJ. A.BechdoltB. V., 1969, “An economic derivation of the ‘gravity law’ of spatial interaction”, Journal of Regional Science, 9, 273–282
5.
PilgrimB.CarterR., 1970, “Systems design project, a computer program to evaluate urban land use plans, general description”, Local Government O.R. Unit, Reading
6.
WilsonA. G., 1970, Entropy in Urban and Regional Modelling (Pion, London)
