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Simulating Housing Market Processes at the Micro Level


  • Igal Ayal

    (Tel Aviv University)

  • Donald J. Hempel

    (University of Connecticut)


The 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.

Suggested Citation

  • Igal Ayal & Donald J. Hempel, 1979. "Simulating Housing Market Processes at the Micro Level," Management Science, INFORMS, vol. 25(6), pages 565-576, June.
  • Handle: RePEc:inm:ormnsc:v:25:y:1979:i:6:p:565-576

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    References listed on IDEAS

    1. Ian I. Mitroff, 1972. "The Myth of Objectivity OR Why Science Needs a New Psychology of Science," Management Science, INFORMS, vol. 18(10), pages 613-618, June.
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