Bargaining Over Residential Real Estate: Evidence from England, Third Version

35 Pages Posted: 18 May 2004

See all articles by Antonio Merlo

Antonio Merlo

University of Pennsylvania - Department of Economics; Rice University

François Ortalo-Magné

Wisconsin School of Business; CESifo (Center for Economic Studies and Ifo Institute for Economic Research)

Date Written: May 11, 2004

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 for the study of the strategic interactions between buyers and sellers.

Note: Please note that this paper is the updated version of PIER 02-023.

JEL Classification: D4, R0, L0

Suggested Citation

Merlo, Antonio M. and Ortalo-Magne, Francois, Bargaining Over Residential Real Estate: Evidence from England, Third Version (May 11, 2004). PIER Working Paper No. 04-020. Available at SSRN: https://ssrn.com/abstract=547722 or http://dx.doi.org/10.2139/ssrn.547722

Antonio M. Merlo (Contact Author)

University of Pennsylvania - Department of Economics ( email )

Ronald O. Perelman Center for Political Science
133 South 36th Street
Philadelphia, PA 19104-6297
United States
215-898-7933 (Phone)
215-573-2057 (Fax)

HOME PAGE: http://www.ssc.upenn.edu/~merloa

Rice University ( email )

6100 South Main Street
Houston, TX 77005-1892
United States

Francois Ortalo-Magne

Wisconsin School of Business ( email )

4300 Grainger Hall
975 University Avenue
Madison, WI 53706-1323
United States
608-262-7867 (Phone)
608-262-7867 (Fax)

HOME PAGE: http://francois.marginalq.com

CESifo (Center for Economic Studies and Ifo Institute for Economic Research)

Poschinger Str. 5
Munich, DE-81679
Germany

HOME PAGE: http://www.CESifo.de

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