Bargaining over residential real estate: Evidence from England

Antonio Merlo, François Ortalo-Magné

    Research output: Contribution to journalArticlepeer-review

    Abstract

    This paper presents a new data set of individual residential property transactions in England. The main novelty of the data is the record of all listing price changes and all offers made between initial listing and sale agreement. We establish a number of stylized facts pertaining to the sequence of events that occur within individual property transaction histories. We assess the limitations of existing theories in explaining the data and discuss alternative theoretical frameworks for the study of the strategic interactions between buyers and sellers.

    Original languageEnglish (US)
    Pages (from-to)192-216
    Number of pages25
    JournalJournal of Urban Economics
    Volume56
    Issue number2
    DOIs
    StatePublished - Sep 2004

    ASJC Scopus subject areas

    • Economics and Econometrics
    • Urban Studies

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