Mobility and optimal tenure choice

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dc.citation.epage354en_US
dc.citation.issueNumber4en_US
dc.citation.spage336en_US
dc.citation.volumeNumber14en_US
dc.contributor.authorÖzyıldırım, S.en_US
dc.contributor.authorÖnder, Z.en_US
dc.contributor.authorYavas, A.en_US
dc.date.accessioned2016-02-08T10:21:43Z
dc.date.available2016-02-08T10:21:43Z
dc.date.issued2005en_US
dc.departmentDepartment of Managementen_US
dc.description.abstractIn this paper, we offer a dynamic model of the optimal tenure behavior of an individual who faces the possibility of moving multiple times during his lifetime. We also investigate the lifetime effects of such factors as income tax, property tax, transaction costs, and mortgage rates on the household's tenure choice. The agents in the model utilize a genetic algorithm, a probabilistic search approach, to determine their optimal lifetime tenure choice path. The agents are forward looking in that they anticipate such possible events as changes in jobs, marital status, household size, or dissatisfaction with current residence. Our results suggest several housing policy implications and explain some of the empirical findings in the literature.en_US
dc.identifier.doi10.1016/j.jhe.2005.09.002en_US
dc.identifier.eissn1096-0791
dc.identifier.issn1051-1377
dc.identifier.urihttp://hdl.handle.net/11693/23950
dc.language.isoEnglishen_US
dc.publisherElsevieren_US
dc.relation.isversionofhttp://dx.doi.org/10.1016/j.jhe.2005.09.002en_US
dc.source.titleJournal of Housing Economicsen_US
dc.subjectHeuristic searchen_US
dc.subjectRandom mobilityen_US
dc.subjectTenure choiceen_US
dc.titleMobility and optimal tenure choiceen_US
dc.typeArticleen_US

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