Some economists have argued that lines at popular restaraunts reflect
irrational behavior on the part of restaraunt owners - why don't
they raise prices to get rid of excess demand? Becker, among others,
argue that lines attract other customers, and restaraunts compete
through popularity.
After
Brian,
The first idea that "Since they won't be living in the places more
than 5 or 10 years they don't care if the place is ugly to most people
or shoddily constructed. This leaves the rest of the population with
only ugly and shoddy houses to choose from when they eventually need to
move.
Local government gets involved with Building Codes..both in how ugly and how far one
can allow the property to degrade. They usually set minimums acceptable standards by
the community. The home owner associations go farther in particular areas. One can
live in a community with strict buildin
> Markets do very well at allocating goods like coffee or gasoline or
clothes
> in the short term because of their flexibility in response to short term
> preferences. They don't do well in things like supplying housing in proper
> configurations and locations because housing is a durable good th
--- Ben Berry <[EMAIL PROTECTED]> wrote:
> Markets ... don't do well in things like supplying housing in
> proper configurations and locations because housing is a durable
good that once sold is relatively permanent (30-100 years or more).<
It depends on the particular market. If a housing devel
"Since they won't be living in the places more than 5 or 10 years they don't
care if the place is ugly to most people or shoddily constructed."
I don't think many rational people would build a home that was (1)
considered ugly or of very poor quality by most people and (2) a home he
expected to
Ben wrote (his professors argument):
>>Markets do very well at allocating goods like coffee or gasoline or
clothes
in the short term because of their flexibility in response to short term
preferences. They don't do well in things like supplying housing in proper
configurations and locations becau
>From: "Ben Berry" <[EMAIL PROTECTED]>
>Reply-To: [EMAIL PROTECTED]
>To: <[EMAIL PROTECTED]>
>Subject: the justification for urban planning
>Date: Thu, 25 Oct 2001 21:18:23 -0700
>
>
>Markets do very well at allocating goods like coffee or gasoline or clothes
>in the short term because of their f
