Abstract
We construct a structural model for single-family house selling which relies on sale price, time on the market, and latent listing price in a simplified economy. We perform an optimization with our model to determine optimal listing price given housing covariates. This has implications on how house sellers can maximize their profit when moving houses by gaming in an imperfect information system. We also use Maximum Likelihood techniques to recover model parameters from simulated real estate data.
Type
Adam A. Oppenheimer
Research Professional
I am a Research Professional at the Ronzetti Initiative for the Study of Labor Markets, working with Professor Thibaut Lamadon on projects in labor economics. My research interests include labor economics, inequality, and econometrics.