Further Assessment of the Efficiency Effects of Internet Use in Home Search

Heather Richardson () and Leonard V. Zumpano ()
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Heather Richardson: University of Alabama
Leonard V. Zumpano: The University of Alabama

Journal of Real Estate Research, 2012, vol. 34, issue 4, 515-548

Abstract: This paper examines the continuing evolution of the Internet and the resulting effects on the efficiency of buyer search. The study encompassed market conditions indicative of both a buyer's and seller's market. The results indicate that as Internet usage increased search duration increased, whether a buyer's or seller's market. This result was different from earlier research which found that the Internet had no significant effect on search duration, even though it increased search intensity. In contrast, while this research also found the Internet increased buyer search intensity, it only did so when market conditions are more favorable to buyers, and not during seller's markets. If the only effect of online search is an increase in search duration without a commensurate increase in benefits to buyers the Internet may actually slow the market clearing process and increase seller holding costs.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (2)

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