Competing Risks in a Time on the Market Analysis

Erik de Wit

No 10-108/2, Tinbergen Institute Discussion Papers from Tinbergen Institute

Abstract: Theoretical models on the selling process in the housing market are scarce. Taylor (1999) specifies a model where time-on-the-market gives a quality signal of the house to potential buyers if inspection outcomes of the house are not public. We specify a duration model with competing risks, where the competing risks are a sale or a withdrawal from the market. We use a unique administrative dataset from the Netherlands. We find negative duration dependence in the hazard of sale and positive duration dependence in the hazard of withdrawal confirming the empirical predictions from Taylor (1999).

Keywords: time-on-the-market; duration models; household finance; housing market (search for similar items in EconPapers)
JEL-codes: C41 D14 G12 R30 (search for similar items in EconPapers)
Date: 2010-10-29
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (2)

Downloads: (external link)
https://papers.tinbergen.nl/10108.pdf (application/pdf)

Related works:
Working Paper: Competing Risks in a Time-on-the-Market Analysis (2009)
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:tin:wpaper:20100108

Access Statistics for this paper

More papers in Tinbergen Institute Discussion Papers from Tinbergen Institute Contact information at EDIRC.
Bibliographic data for series maintained by Tinbergen Office +31 (0)10-4088900 ().