Spatiotemporal evolution of urban populations and housing: A dynamic utility-driven market-mediated model
Fig 1
Schematic of the unit preference vector s(p) of household p, its component s0(p) and the multidimensional remainder vector s′(p).
As s0(p) approaches −1 wealth decreases and the magnitude of remaining preferences |s′(p)| is reduced accordingly; the richest households have |s0(p)| ≪ 1.