Contract equilibria in a regulated rental housing market |
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| Institution: | 1. Laserinstitut Hochschule Mittweida, Hochschule Mittweida, Schillerstrasse 10, Mittweida 09648, Germany;2. Center for Energy and Environmental Chemistry Jena (CEEC Jena), Friedrich Schiller University Jena, Philosophenweg 7a, Jena 07743, Germany;3. Institute of Organic Chemistry and Macromolecular Chemistry (IOMC), Friedrich Schiller University Jena, Humboldstraße 10, Jena 07743, Germany;1. Department of Management, Bar-Ilan University, Ramat-Gan, 5290002, Israel;2. Graduate School of Business Administration, Bar-Ilan University, Ramat-Gan, 5290002, Israel;3. Anderson Graduate School of Management, University of California, Riverside, CA, 92521, United States |
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| Abstract: | Various contractual equilibrium concepts for a regulated rental housing market are studied in this paper. Regulation refers to rental contracts with institutionally prescribed structures and rental prices, a situation common for housing markets with restrictive rental protection legislation. Contracts can then be considered as indivisible commodities with certain unusual characteristics. Existence of equilibria of the various types is shown under rather weak assumptions. |
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