Related papers: Housing Market Microstructure
We provide simple models for the utility function (or psychology) of an actor trading a multitude of goods for money. In this framework, money has no intrinsic consumption value, but is required as a medium of exchange. A collection of such…
Predicting the price of a house remains a challenging issue that needs to be addressed. Research has attempted to establish a model with different methods and algorithms to predict the housing price, from the traditional hedonic model to a…
This paper investigates the risk-return relationship in determination of housing asset pricing. In so doing, the paper evaluates behavioral hypotheses advanced by Case and Shiller (1988, 2002, 2009) in studies of boom and post-boom housing…
Accurate prediction of house price, a vital aspect of the residential real estate sector, is of substantial interest for a wide range of stakeholders. However, predicting house prices is a complex task due to the significant variability…
We explore heterogeneous prices as a source of heterogeneous or stochastic demand. Heterogeneous prices could arise either because there is actual price variation among consumers or because consumers (mis)perceive prices differently. Our…
Mounting empirical evidence suggests that the observed extreme prices within a trading period can provide valuable information about the volatility of the process within that period. In this paper we define a class of stochastic volatility…
We study multi-type housing markets, where there are $p\ge 2$ types of items, each agent is initially endowed one item of each type, and the goal is to design mechanisms without monetary transfer to (re)allocate items to the agents based on…
Understanding how housing values evolve over time is important to policy makers, consumers and real estate professionals. Existing methods for constructing housing indices are computed at a coarse spatial granularity, such as metropolitan…
When an individual purchases a home, they simultaneously purchase its structural features, its accessibility to work, and the neighborhood amenities. Some amenities, such as air quality, are measurable while others, such as the prestige or…
We present Luce, the first life-long predictive model for automated property valuation. Luce addresses two critical issues of property valuation: the lack of recent sold prices and the sparsity of house data. It is designed to operate on a…
This study simulates the evolution of artificial economies in order to understand the tax relevance of administrative boundaries in the quality of life of its citizens. The modeling involves the construction of a computational algorithm,…
Microstructure of market dynamics is studied through analysis of tick price data. Linear trend is introduced as a tool for such analysis. Trend arbitrage inequality is developed and tested. The inequality sets limiting relationship between…
Online real-estate information systems such as Zillow and Trulia have gained increasing popularity in recent years. One important feature offered by these systems is the online home price estimate through automated data-intensive…
Models necessarily capture only parts of a reality. Prediction models aim at capturing a future reality. In this paper we address the question of how the future is constructed (or: imagined) in an investment context where market…
Since the advent of online real estate database companies like Zillow, Trulia and Redfin, the problem of automatic estimation of market values for houses has received considerable attention. Several real estate websites provide such…
The research explores the subject of zoning effect on price value of a house in a certain designated zone. Zoning is defined as a land under planned use. This results in price value of the land. As the area of the land decreases an increase…
This article identifies the factors that drove house prices in 13 advanced countries over the past 35 years. It does so based on Breiman s (2001) random forest model. Shapley values indicate that annual house price growth across countries…
This article addresses the residential energy cost optimization problem in smart grid. To date, most of the previous research only consider a partial aspect of the cost optimization problem. As a result, they fail to analyze scenarios when…
We consider models of financial markets in which all parties involved find incentives to participate. Strategies are evaluated directly by their virtual wealths. By tuning the price sensitivity and market impact, a phase diagram with…
Pricing a rental property on Airbnb is a challenging task for the owner as it determines the number of customers for the place. On the other hand, customers have to evaluate an offered price with minimal knowledge of an optimal value for…