Agent-based Housing Market Microsimulation for Integrated Land Use, Transportation, Environment Model System
Name
Rosenfield-2013-Agent-based Housing.pdf
Size
865.83 KB
Format
Adobe PDF
Checksum (MD5)
13636e3b52f2e28c04186415548e6eb7
Author(s)
Rosenfield, Adam
Chingcuanco, Franco
Miller, Eric J.
Date Issued
January 2013
Journal
Procedia Computer Science
Publisher
Elsevier
Citation
Rosenfield, Adam, Franco Chingcuanco, and Eric J. Miller. “Agent-Based Housing Market Microsimulation for Integrated Land Use, Transportation, Environment Model System.” Procedia Computer Science 19 (January 2013): 841–846.
Version
Final published version
Abstract
The Housing Market Evolutionary System (HoMES) is the updated housing market module for the Integrated Land Use, Transportation, Environment (ILUTE) model system. HoMES is a disaggregate, agent-based microsimulation of the owner-occupied housing market, with models for households’ residential mobility decisions, location choices and valuations, the endogenous supply of housing by type and location, and the endogenous determination of sale prices and rents. The new model offers significant improvements over previous attempts by including a reformulated market clearing mechanism, market dependency on macro-economic conditions, and improved computational performance. A 100% synthesized population is validated against historical data for the Greater Toronto-Hamilton Area.
MIT Department
Massachusetts Institute of Technology. Department of Civil and Environmental Engineering
Terms of Use
Creative Commons Attribution
Persistent DSpace Link
DOI of Published Version
https://doi.org/10.1016/j.procs.2013.06.112
