A market analysis of trade transactions for vacation houses
- Autores: Elvio Accinelli, Juan Gabriel Brida, Edgar JS Carrera, Guillermo Cavazos
- Localización: RIAT: Revista Interamericana de Medioambiente y Turismo, ISSN-e 0718-235X, Vol. 2, Nº. 2, 2006, págs. 32-39
- Idioma: español
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Resumen
The aim of this paper is to study the impact of the valuation of individual opportunity cost in a problem of second houses acquisition and its repercussions on the election of optimal rules, from the social welfare point of view, to assign these commodities. Considering a partial equilibrium model, we show that the election of this rule depends on the valuation of opportunity cost. A correct valuation of this cost implies that the free market is the only efficient mechanism to assign these commodities. So, in order to maximize the social welfare, the government must eliminate all the existent restrictions in this market.
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