TY - JOUR
T1 - On the optimality of the hybrid tenure mode
AU - Ben-Shahar, Danny
PY - 1998/3
Y1 - 1998/3
N2 - In contrast to most studies in the tenure choice literature, our model confronts the agent with a continuum of tenure modes combining homeownership and tenancy. In principle, the hybrid tenure mode contract, while appearing in different forms, may be detected in various real estate markets around the world. In a two-period model with risky rent prices, we thus derive conditions under which the risk-averse asset occupant is inclined to combine the two traditional tenure modes.
AB - In contrast to most studies in the tenure choice literature, our model confronts the agent with a continuum of tenure modes combining homeownership and tenancy. In principle, the hybrid tenure mode contract, while appearing in different forms, may be detected in various real estate markets around the world. In a two-period model with risky rent prices, we thus derive conditions under which the risk-averse asset occupant is inclined to combine the two traditional tenure modes.
UR - http://www.scopus.com/inward/record.url?scp=0001935768&partnerID=8YFLogxK
U2 - 10.1006/jhec.1998.0223
DO - 10.1006/jhec.1998.0223
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AN - SCOPUS:0001935768
SN - 1051-1377
VL - 7
SP - 69
EP - 92
JO - Journal of Housing Economics
JF - Journal of Housing Economics
IS - 1
ER -
