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Bargaining over Residential Real Estate: Evidence from England (Third Version)

Author

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  • Antonio Merlo

    (Department of Economics, University of Pennsylvania)

  • François Ortalo-Magné

    (School of Business, University of Wisconsin-Madison)

Abstract

This paper presents a new data set of individual residential property transactions in England. The main novelty of the data is the record of all listing price changes and all offers made between initial listing and sale agreement. We establish a number of stylized facts pertaining to the sequence of events that occur within individual property transaction histories. We assess the limitations of existing theories in explaining the data and discuss alternative theoretical frameworks

Suggested Citation

  • Antonio Merlo & François Ortalo-Magné, 2002. "Bargaining over Residential Real Estate: Evidence from England (Third Version)," PIER Working Paper Archive 04-020, Penn Institute for Economic Research, Department of Economics, University of Pennsylvania, revised 11 Mar 2004.
    • Handle: RePEc:pen:papers:04-020
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    References listed on IDEAS

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    More about this item

    JEL classification:

    • D4 - Microeconomics - - Market Structure, Pricing, and Design
    • R0 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - General
    • L0 - Industrial Organization - - General

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