The Effects of Occupational Licensing on Complaints Against Real Estate Agents
Does licensing increase the quality of services? This is a major unresolved question in the economic analysis of occupational licensing. This paper provides the first empirical evidence on the simultaneous relationship between anticompetitive effects and minimal quality standards. Using data on real estate agents, we find that restrictions on entry improve the quality of services (by lowering complaints), but, at the same time, there appear to be significant anticompetitive side-effects.
Volume (Year): 3 (1988)
Issue (Month): 2 ()
|Contact details of provider:|| Postal: American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323|
Web page: http://www.aresnet.org/
|Order Information:|| Postal: Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323|
Web: http://pages.jh.edu/jrer/about/get.htm Email:
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Chunchi Wu & Peter F. Colwell, 1986. "Equilibrium of Housing and Real Estate Brokerage Markets Under Uncertainty," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 14(1), pages 1-23.
- Arlene S. Holen, 1965. "Effects of Professional Licensing Arrangements on Interstate Labor Mobility and Resource Allocation," Journal of Political Economy, University of Chicago Press, vol. 73, pages 492-492.
- Peter F. Colwell & David W. Marshall, 1986. "Market Share in the Real Estate Brokerage Industry," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 14(4), pages 583-599.
- Milton Friedman & Simon Kuznets, 1954. "Income from Independent Professional Practice," NBER Books, National Bureau of Economic Research, Inc, number frie54-1, September.
- Schwartz, Alan & Wilde, Louis L., "undated". "Intervening in Markets on the Basis of Imperfect Information: A Legal and Economic Analysis," Working Papers 235, California Institute of Technology, Division of the Humanities and Social Sciences.
- Michael Carney, 1982. "Costs and Pricing of Home Brokerage Services," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 10(3), pages 331-354.
- Linda L. Johnson & Christine Loucks, 1986. "The Effect of State Licensing Regulations on the Real Estate Brokerage Industry," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 14(4), pages 567-582.
- Benham, Lee, 1972. "The Effect of Advertising on the Price of Eyeglasses," Journal of Law and Economics, University of Chicago Press, vol. 15(2), pages 337-352, October.
- Bond, Eric W, 1982. "A Direct Test of the "Lemons" Model: The Market for Used Pickup Trucks," American Economic Review, American Economic Association, vol. 72(4), pages 836-840, September.
- Maurizi, Alex, 1974. "Occupational Licensing and the Public Interest," Journal of Political Economy, University of Chicago Press, vol. 82(2), pages 399-413, Part I, M.
- George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, Oxford University Press, vol. 84(3), pages 488-500.
- Bartlett, Randall, 1981. "Property Rights and the Pricing of Real Estate Brokerage," Journal of Industrial Economics, Wiley Blackwell, vol. 30(1), pages 79-94, September.
When requesting a correction, please mention this item's handle: RePEc:jre:issued:v:3:n:2:1988:p:1-9. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (JRER Graduate Assistant/Webmaster)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.