An Estimatable DCDP Model of Search and Matching in Real Estate Markets
AbstractThe primary purpose of this study is to introduce an estimatable model of search and matching in real estate markets. A benefit of developing such a theory is so we may better understand the structure that determines these choices. The DCDP model that we propose produces the following results. First, the model is able to replicate several salient features of real estate markets. Second, the estimation method is able to accurately and efficiently recover the structural demand and supply functions of the buyers and sellers.
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Bibliographic InfoPaper provided by Middle Tennessee State University, Department of Economics and Finance in its series Working Papers with number 201105.
Date of creation: Sep 2011
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Web page: http://www.mtsu.edu/~berc/working/Economics_Working_Papers.html
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Real Estate; Search and Matching; Structural Estimation; MCMC; and Gibbs-Sampler;
Find related papers by JEL classification:
- C11 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Bayesian Analysis: General
- C5 - Mathematical and Quantitative Methods - - Econometric Modeling
- C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
- C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
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