Suppose that a Household bids £1000 in rent, but landlord wants £1001. Currently a Household would refuse rental accommodation and remain "homeless." Clearly this is unreasonable behavior on the part of Households (and landlords).
Again we would like to model this as a discrete choice problem: household receives a rental offer which it probabilistically accepts.
Suppose that a Household bids £1000 in rent, but landlord wants £1001. Currently a Household would refuse rental accommodation and remain "homeless." Clearly this is unreasonable behavior on the part of Households (and landlords).
Again we would like to model this as a discrete choice problem: household receives a rental offer which it probabilistically accepts.