Tenure Security and Urban Squatting
构建均衡模型分析第三世界城市占屋现象，用菲律宾达沃市数据发现正规部门住房价格比非正规部门高18%至58%，反映产权保障溢价。
While recent studies have shown that up to 35% of the total urban population of the Third World live in squatter settlements, there is a dearth of economic analysis on the phenomenon of squatting. This paper attempts to fill this gap. The equilibrium model argues that the difference in unit housing prices between the non-squatting (formal) sector of a city and its squatting (informal) sector reflects the premium associated with a secure tenure status. The empirical portion of this paper uses hedonic price techniques to derive the average premium on tenure security in a medium-sized Philippine city, Davao. Results show that formal-sector unit dwelling prices are about 18% (renters) to 58% (owners) more than in the informal sector. These equilibrium price differentials were found to be greater for lower income groups, larger household sizes, and households with older heads for renters and younger heads for