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Competing Risks in a Time on the Market Analysis


Author Info

  • Erik R. de Wit

    (Finance Group, University of Amsterdam)


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).

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Bibliographic Info

Paper provided by Tinbergen Institute in its series Tinbergen Institute Discussion Papers with number 10-108/2.

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Date of creation: 29 Oct 2010
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Handle: RePEc:dgr:uvatin:20100108

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Keywords: time-on-the-market; duration models; household finance; housing market;

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Cited by:
  1. de Wit, Erik R. & van der Klaauw, Bas, 2013. "Asymmetric information and list-price reductions in the housing market," Regional Science and Urban Economics, Elsevier, vol. 43(3), pages 507-520.


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