Strategic Interactions of Urban Land Developers in the Housing Market

Pedro Miguel Moreira Lopes Garcês () and Cesaltina Maria Pacheco Pires ()
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Pedro Miguel Moreira Lopes Garcês: CEFAGE
Cesaltina Maria Pacheco Pires: University of Évora, Department of Economics and CEFAGE

CEFAGE-UE Working Papers from University of Evora, CEFAGE-UE (Portugal)

Abstract: We discuss a model where there are two urban land developers (ULD), one located at the central business district (CBD) while the other has a more decentralized location. The producers first simultaneously decide their housing quality and then compete in prices. We assume that, for the same price, all consumers prefer more quality and a house located in the CBD. This article provides a full characterization of the Nash equilibrium of the second stage price competition game, considering all possible market coverage configurations.

Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:cfe:wpcefa:2020_01

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