The Effects of Demand Specification and Search Patience on the Buyer Search Process in China's Resale Housing Market: An Experimental Study

Yang Zhang (), Hong Zhang () and Michael Seiler ()
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Yang Zhang: Tsinghua University
Hong Zhang: Tsinghua University

International Real Estate Review, 2014, vol. 17, issue 3, 275-299

Abstract: Through the implementation of an experimental design, this study examines the effect of buyer demand specification and search patience on the home buying process. We find that there are no significant effects of demand specification on the behavior of brokers and the search results. When the search patience of a buyer is higher, the earnings of the buyer are greater, matching degree is higher, search duration is longer, number of broker recommendations is greater, and attribute competition is fiercer.

Keywords: Demand Specification; Search Patience; Experimental Methods; Resale Housing Market (search for similar items in EconPapers)
JEL-codes: L85 (search for similar items in EconPapers)
Date: 2014
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