Hedonic Modeling of the Home Selling Process

John R. Knight
Additional contact information
John R. Knight: University of the Pacific

Chapter 2 in Hedonic Methods in Housing Markets, 2008, pp 39-54 from Springer

Abstract: Many aspects of the housing market distinguish it from a perfectly competitive market. In a perfectly competitive market, a large number of buyers and sellers, together with ease of entry and exit, ensure that all participants are price takers. The marketplace is clearly defined and products in such markets are perfectly homogeneous. Moreover, information about price is easily obtained and instantly known. A considerable literature has developed over the last several years regarding the selling process sketched above. To date however, hedonic studies of environmental amenities and disamenities have largely ignored the impact of the selling process on selling price and attribute values. This chapter provides a review of the relevant theories that have been offered to explain buyer and seller behavior in this process, describes an econometric model that may be employed to test these theories within the hedonic framework, and highlights some of the important empirical results.

Keywords: Real Estate; Housing Market; Reservation Price; Selling Price; Listing Price (search for similar items in EconPapers)
Date: 2008
References: Add references at CitEc
Citations: View citations in EconPapers (6)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-0-387-76815-1_3

Ordering information: This item can be ordered from
http://www.springer.com/9780387768151

DOI: 10.1007/978-0-387-76815-1_3

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().