The Home Selling Problem: Theory and Evidence
The Home Selling Problem: Theory and Evidence
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DOI：
10.1111/iere.12111
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发表时间：
2013-01
期刊：
影响因子：
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通讯作者：
Antonio Merlo;F. Ortalo-Magné;John Rust
中科院分区：
文献类型：
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作者：
Antonio Merlo;F. Ortalo-Magné;John Rust
我们制定并解决了房主想要以扣除交易成本后的最高价格出售房屋的问题。我们使用英格兰 780 处住宅物业的交易历史数据来估算该模型。估计模型符合标价动态和数据的其他关键特征。尤其是改变挂牌价格的微小菜单成本，低至房屋价值1%的千分之十，就足以解释数据中观察到的挂牌价格的高度粘性。
We formulate and solve the problem of a homeowner who wants to sell her house for the maximum possible price net of transactions costs. We estimate this model using data on transaction histories for 780 residential properties in England. The estimated model fits list price dynamics and other key features of the data. In particular, a tiny menu cost of changing the listing price, as little as ten thousandths of 1% of the house value, is sufficient to explain the high degree of stickiness of listing prices observed in the data.