Arbeitspapier
Asymmetric Information and List Price Reductions in the Housing Market
In housing markets with asymmetric information list prices may signal unobserved properties of the house or the seller. Asymmetric information is the starting point of many models for the housing market. In this paper, we estimate the causal effect of list-price reductions to test for the presence of asymmetric information. We use very rich and extensive administrative data from the Netherlands. Our empirical results show that list-price reductions significantly increase the probability of selling a house, but also the rate of withdrawal from the market increases.
- Language
-
Englisch
- Bibliographic citation
-
Series: Tinbergen Institute Discussion Paper ; No. 10-038/3
- Classification
-
Wirtschaft
Duration Analysis; Optimal Timing Strategies
Asymmetric and Private Information; Mechanism Design
Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand
Housing Supply and Markets
- Subject
-
Time-on-the-market
duration analysis
transaction prices
selectivity
Immobilienpreis
Asymmetrische Information
Wohnungsmarkt
Niederlande
- Event
-
Geistige Schöpfung
- (who)
-
de Wit, Erik R.
van der Klaauw, Bas
- Event
-
Veröffentlichung
- (who)
-
Tinbergen Institute
- (where)
-
Amsterdam and Rotterdam
- (when)
-
2010
- Handle
- Last update
-
10.03.2025, 11:44 AM CET
Data provider
This object is provided by:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- de Wit, Erik R.
- van der Klaauw, Bas
- Tinbergen Institute
Time of origin
- 2010
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