Related papers: Housing Market Microstructure
Our research group wanted to take on the difficult task of predicting prices in a dynamic market. And short term rentals such as Airbnb listings seemed to be the perfect proving ground to do such a thing. Airbnb has revolutionized the…
In this paper, we review modern approaches to building interpretable models of property markets using machine learning on the base of mass valuation of property in the Primorye region, Russia. There are numerous potential difficulties one…
As a typical representation of complex networks studied relatively thoroughly, financial market presents some special details, such as its nonconservation and opinions spreading. In this model, agents congregate to form some clusters, which…
In this article we look at stochastic processes with uncertain parameters, and consider different ways in which information is obtained when carrying out observations. For example we focus on the case of a the random evolution of a traded…
We consider a discrete-time model of a financial market where a risky asset is bought and sold with transactions having a transient price impact. It is shown that the corresponding utility maximization problem admits a solution. We manage…
We show that a simple model of a spatially resolved evolving economic system, which has a steady state under simultaneous updating, shows stable oscillations in price when updated asynchronously. The oscillations arise from a gradual…
The paper proposes a framework for modeling and analysis of the dynamics of supply, demand, and clearing prices in power system with real-time retail pricing and information asymmetry. Real-time retail pricing is characterized by passing on…
The relationship between price volatilty and a market extremum is examined using a fundamental economics model of supply and demand. By examining randomness through a microeconomic setting, we obtain the implications of randomness in the…
We develop from basic economic principles a continuous-time model for a large investor who trades with a finite number of market makers at their utility indifference prices. In this model, the market makers compete with their quotes for the…
In many countries, real estate appraisal is based on conventional methods that rely on appraisers' abilities to collect data, interpret it and model the price of a real estate property. With the increasing use of real estate online…
We develop a framework based on microeconomic theory from which the ideal gas like market models can be addressed. A kinetic exchange model based on that framework is proposed and its distributional features have been studied by considering…
Motivated by the prevalence of prediction problems in the economy, we study markets in which firms sell models to a consumer to help improve their prediction. Firms decide whether to enter, choose models to train on their data, and set…
We analyze the relative price change of assets starting from basic supply/demand considerations subject to arbitrary motivations. The resulting stochastic differential equation has coefficients that are functions of supply and demand. We…
This paper presents a model that uses the information that sellers publish in real estate market websites to predict whether a property has higher or lower price than the average price of its similar properties. The model learns the…
We investigate financial market correlations using random matrix theory and principal component analysis. We use random matrix theory to demonstrate that correlation matrices of asset price changes contain structure that is incompatible…
In a market with transaction costs, the price of a derivative can be expressed in terms of (preconsistent) price systems (after Kusuoka (1995)). In this paper, we consider a market with binomial model for stock price and discuss how to…
Policymakers decide on alternative policies facing restricted budgets and uncertain, ever-changing future. Designing public policies is further difficult due to the need to decide on priorities and handle effects across policies. Housing…
Urban scaling laws summarize how urban attributes evolve with city size. Recent criticism questions notably the aggregate view of this approach, which leads to neglecting the internal structure of cities. This is all the more relevant for…
We study housing markets as introduced by Shapley and Scarf (1974). We investigate the computational complexity of various questions regarding the situation of an agent $a$ in a housing market $H$: we show that it is $\mathsf{NP}$-hard to…
Many brokers have adapted their operation to exploit the potential of the web. Despite the importance of the real estate classifieds, there has been little work in analyzing such data. In this paper we propose a two-stage regression model…