TY - JOUR
T1 - Bargaining over residential real estate
T2 - Evidence from England
AU - Merlo, Antonio
AU - Ortalo-Magné, François
N1 - Funding Information:
We thank Halifax Estate Agencies for giving us access to their transaction records. The Editor and two anonymous referees provided helpful comments and suggestions. We benefitted from the comments of David Genesove, Hide Ichimura, Peter Linneman, Chris Mayer, John Rust, Bill Wheaton, and seminar and conference participants at several institutions. This project is funded by ESRC Grant R000237737 and STICERD, LSE. The patient research assistance of Christos Tsakonas, Fernando Goni, and Andrei Romanov was very much appreciated.
PY - 2004/9
Y1 - 2004/9
N2 - 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.
AB - 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.
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U2 - 10.1016/j.jue.2004.05.004
DO - 10.1016/j.jue.2004.05.004
M3 - Article
AN - SCOPUS:4344614007
SN - 0094-1190
VL - 56
SP - 192
EP - 216
JO - Journal of Urban Economics
JF - Journal of Urban Economics
IS - 2
ER -