Asymmetric information and list-price reductions in the housing market
ER de Wit, B Van der Klaauw - Regional Science and Urban Economics, 2013 - Elsevier
In housing markets with asymmetric information list prices may signal unobserved properties
of the house or the seller. Asymmetric information is the starting point for many models for
the housing market. In this paper, we estimate the causal effect of list-price reductions on the
time houses remain for sale on the market to test for the presence of asymmetric information.
We use very rich and extensive administrative data from the Netherlands. Our empirical ...
of the house or the seller. Asymmetric information is the starting point for many models for
the housing market. In this paper, we estimate the causal effect of list-price reductions on the
time houses remain for sale on the market to test for the presence of asymmetric information.
We use very rich and extensive administrative data from the Netherlands. Our empirical ...