Teaching the DiPasquale-Wheaton Model
Document Type
Article
Publication Date
2017
Digital Object Identifier (DOI)
https://doi.org/10.1080/10835547.2017.12091767
Abstract
The DiPasquale-Wheaton (1992) model graphically determines rental price, asset price, newly constructed stock, and total stock in a real estate market. Despite its frequent use in academic research, few textbooks exposit the model. I conjecture this is due in part to the difficulty of deriving its comparative static results. I derive a supply curve that simplifies graphical analysis and perform a complete graphical comparative static analysis. Although the main objective of this paper is to encourage pedagogical usage of the model, an Appendix provides a mathematical derivation of the comparative static results, which has not heretofore appeared in the literature.
Was this content written or created while at USF?
Yes
Citation / Publisher Attribution
Journal of Real Estate Practice and Education, v. 20, issue 1, p. 1-25
Scholar Commons Citation
DeSalvo, Joseph S., "Teaching the DiPasquale-Wheaton Model" (2017). Economics Faculty Publications. 13.
https://digitalcommons.usf.edu/ecn_facpub/13
