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Contracting, Contingencies and Single-Family House Prices

Author

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  • Allen, Paul R
  • Shilling, James D
  • Sirmans, C F

Abstract

This paper investigates the relationship between single-family house prices and contingent terms in contracts. Since contingencies create uncertainty, the market should exact a price premium. The results indicate that the contracting for property rights affects house prices in the predicted ways. Copyright 1987 by Oxford University Press.

Suggested Citation

  • Allen, Paul R & Shilling, James D & Sirmans, C F, 1987. "Contracting, Contingencies and Single-Family House Prices," Economic Inquiry, Western Economic Association International, vol. 25(1), pages 159-164, January.
    • Handle: RePEc:oup:ecinqu:v:25:y:1987:i:1:p:159-64
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    Cited by:

    1. Abdala Rioja, Yamile E, 2016. "Cash-Only Real Estate Transactions and Property Prices in San Francisco, California," MPRA Paper 72737, University Library of Munich, Germany.
    2. Paul K. Asabere & Forrest E. Huffman & Seyed Mehdian, 1993. "Mispricing and Optimal Time on the Market," Journal of Real Estate Research, American Real Estate Society, vol. 8(1), pages 149-155.
    3. Alan W. Evans, 1995. "The Property Market: Ninety Per Cent Efficient?," Urban Studies, Urban Studies Journal Limited, vol. 32(1), pages 5-29, February.
    4. Lim, Terence & Lo, Andrew W. & Merton, Robert C. & Scholes, Myron S., 2006. "The Derivatives Sourcebook," Foundations and Trends(R) in Finance, now publishers, vol. 1(5–6), pages 365-572, April.

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