Simulating Housing Market Processes at the Micro Level
AbstractThe article describes a simulation of market processes in single-family, owner-occupied housing in a metropolitan market area. The simulation was designed both as a training tool and a decision aid. Model structure is discussed in detail, and data bases for construction are described. The model has substantial face validity (tested with a sizeable number of prominent Realtors), and interesting managerial implications.
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Bibliographic InfoArticle provided by INFORMS in its journal Management Science.
Volume (Year): 25 (1979)
Issue (Month): 6 (June)
market simulations; housing; real estate; urban economics; buyers behavior;
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