Mispricing and Optimal Time on the Market

Paul K. Asabere (), Forrest E. Huffman () and Seyed Mehdian
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Paul K. Asabere: School of Business and Management Temple University Philadelphia, Pennsylvania 19122, http://www.sbm.temple.edu/
Forrest E. Huffman: School of Business and Management Temple University Philadelphia, Pennsylvania 19122, http://www.sbm.temple.edu/
Seyed Mehdian: School of Business and Management Temple University Philadelphia, Pennsylvania 19122, http://www.sbm.temple.edu/

Journal of Real Estate Research, 1993, vol. 8, issue 1, 149-155

Abstract: This study is an empirical examination of the relationship between pricing and optimal time on the market (TOM). First, estimates of optimal TOMs for our data set are generated using a linear programming model. Next, a workable measure of pricing is provided based on predicted listing prices and predicted sales prices. We are then able to measure directly the relationship between pricing and optimal TOM. The results of our analysis indicate that both overpricing and underpricing would prevent the achievement of optimal TOM and result in suboptimal sales prices.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 1993
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Citations: View citations in EconPapers (19)

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