An Estimatable DCDP Model of Search and Matching in Real Estate Markets

Stuart J. Fowler () and Jennifer J. Wilgus

No 201105, Working Papers from Middle Tennessee State University, Department of Economics and Finance

Abstract: The primary purpose of this study is to introduce an estimatable model of search and matching in real estate markets. A benefit of developing such a theory is so we may better understand the structure that determines these choices. The DCDP model that we propose produces the following results. First, the model is able to replicate several salient features of real estate markets. Second, the estimation method is able to accurately and efficiently recover the structural demand and supply functions of the buyers and sellers.

Keywords: Real Estate; Search and Matching; Structural Estimation; MCMC; and Gibbs-Sampler (search for similar items in EconPapers)
JEL-codes: C11 C5 C51 C61 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-ure
Date: 2011-09
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Persistent link: http://EconPapers.repec.org/RePEc:mts:wpaper:201105

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