Housing Quality and Maintenance

Richard Arnott, Russell Davidson and David Pines

Working Paper from Economics Department, Queen's University

Abstract: This paper investigates a representative landlord's profit-maximization problem in a stationary environment. The landlord must decide on the quality of his housing units at the time of construction, maintenance expenditure over the life of the building, and the time of demolition. The focus is on the qualitative characteristics of the optimal path of maintenance expenditures. The analysis can be applied to a variety of other problems with similar economic structure, such as automobile maintenance and the optimal termination of a factory.

Pages: 45
Date: 1980
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Persistent link: https://EconPapers.repec.org/RePEc:qed:wpaper:396

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