Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/65741 
Full metadata record
DC FieldValueLanguage
dc.contributor.authorSelcuk, Cemilen
dc.date.accessioned2012-11-02T14:27:05Z-
dc.date.available2012-11-02T14:27:05Z-
dc.date.issued2010-
dc.identifier.urihttp://hdl.handle.net/10419/65741-
dc.description.abstractWe present a search-and-matching model of the housing market where potential buyers' willingness to pay is private information and sellers may become desperate as they are unable to sell. A unique steady state equilibrium exists where desperate sellers offer sizeable price cuts and sell faster. If the number of distressed sales rises then even relaxed sellers are forced to lower their prices. Buyers, on the other hand, become more selective and search longer for better deals. The model yields a theoretical density function of the time-to-sale, which is positively skewed and may be hump-shaped. These results are consistent with recent empirical findings.en
dc.language.isoengen
dc.publisher|aCardiff University, Cardiff Business School |cCardiffen
dc.relation.ispartofseries|aCardiff Economics Working Papers |xE2010/2en
dc.subject.jelD39en
dc.subject.jelD49en
dc.subject.jelD83en
dc.subject.ddc330en
dc.subject.keywordhousingen
dc.subject.keywordprivate informationen
dc.subject.keywordrandom searchen
dc.subject.keywordmotivated sellersen
dc.subject.stwImmobilienmarkten
dc.subject.stwNachfrageen
dc.subject.stwWillingness to payen
dc.subject.stwMatchingen
dc.subject.stwTheorieen
dc.titleMotivated sellers in the housing market-
dc.typeWorking Paperen
dc.identifier.ppn622728172en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

Files in This Item:
File
Size





Items in EconStor are protected by copyright, with all rights reserved, unless otherwise indicated.