The Determination of National Housing Policies

Abstract

the social marginal productivity is the highest.2 The estimation of social marginal productivity requires value judgments concerning various social objectives, and the use of shadow prices t The author acknowledges the financial assistance of the Institute for International Studies which made possible the basic research for this study, which was conducted in Santiago, Chile, in 1965. Typing and editorial assistance were provided by the Center for Real Estate and Urban Economics. Octavio Cabello at the Economic Commission for Latin America, Santiago, Chile, aided the author in manifold ways during his residence in Santiago in the Spring of 1965. Robert Dorfman, Visiting Research Professor at the University of California, Berkeley, offered a number of particularly incisive comments and suggestions on an earlier draft. Carlos Frankenhoff, Lowden Wingo, Albert H. Schaaf, Roland Artle, and others also reviewed early drafts of the manuscript. Richard Recht and Stanley Hamilton of the Center for Real Estate and Urban Economics assisted in reviewing the mathematical notation and suggesting changes in the final draft. Mr. Hamilton assisted the author in the revision of an earlier draft. A more detailed version of this article was published in Italian in the Rivista Internazionale, Milan, Italy, November 1967. * Professor of Finance and Chairman of the Center for