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Optimal housing investment of a landlord
Author(s) -
Saito Osami,
Itaya Yuji,
Morishima Takaharu
Publication year - 1985
Publication title -
optimal control applications and methods
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.458
H-Index - 44
eISSN - 1099-1514
pISSN - 0143-2087
DOI - 10.1002/oca.4660060204
Subject(s) - landlord , profit (economics) , investment (military) , economics , microeconomics , finance , business , politics , political science , law
This paper presents the optimal behaviour of a landlord. A dynamical model is introduced for the deterioration of housing quality with periodic maintenance, and the optimal policy is investigated for maximizing the landlord's profit with respect to the construction time, the initial quality and the maintenance investment.