Optimal housing capacity is affected by income、consumption、risk aversion and return on investment

[[abstract]]隨著環境的變化，消費者對於住宅的品質愈來愈重要，不管是生活機能或是交通便利，都是消費者考量的因素，消費者往往因購置不動產，導致生活品質受損，如何能在不影響生活品質的情況下購屋為本研究主要探討。本研究主要探討以Campbell&Cocco(2015)的效用模型加以推導，設定新的模型，將參數代入模型加以分析。研究所得(L)、消費(C)、風險規避程度(γ)、投資報酬率(r)在不同情況下，對於最適購屋價格之影響。結果顯示所得愈高，最適購屋能力愈高。在相同所得下，消費愈高，會造成最適房價下降。投資報酬率愈高，最適房價下降。風險規避程度愈高，最適購屋價格愈高。[[abstract]]Duetothechangeoftheenvironment,thequalityofhousebecomesmoreandmoreimportantforconsumers.Whetherlivingfacilitiesorconvenienttransportationarethekeyfactorswhenconsumerspurchasethehouse.Forexample,someconsumersmightpurchaseunsuitablehousewhichdecreasetheirqualityoflife.Thisstudyattempttoresearchhowtopurchasethehousewithoutimpactingonthequalityoflife.ThisstudybasedonthemodelofCampbell&Cocco(2015)andemployedseveralimportantparametersaffectingappropriatehousingcapacity.Thisresearchfocusesonappropriatethefactorofhousingcapacityincludingincome,consumption,riskaversionandreturnoninvestment.Theresearchshowthatifconsumers’incomeraises,theirappropriatehousingcapacitywillalsoraise.Iftheirconsumptionraises,theirappropriatehousingcapacitywilldecreaseiftheirriskaversionraise,theirappropriatehousingcapacitywillincrease.Iftheirreturnoninvestmentraisetheirappropriatehousingcapacitywilldecrease