The Hedonic Price Function in a Matching Model of Housing Market

被引：0
|
作者：
Lisi, Gaetano [1 ]
机构：
[1] Univ Cassino, Cassino, Italy
来源：
ECONOMICS BULLETIN | 2011年 / 31卷 / 03期
关键词：
D O I：
暂无
中图分类号：
F [经济];
学科分类号：
02 ;
摘要：
This paper develops a theoretical model in which the matching framework a la Pissarides (2000) extended to the housing market is integrated with the hedonic price theory. Market tightness and selling price collectively determine the long-run equilibrium of the economic system in which a seller can become a buyer, and vice versa. As a result, the house price depends not only on the housing characteristics but also on the market tensions and bargaining power of the parties. This integration allows to overcome a major drawback of the hedonic price theory, namely the assumption of perfect competition.
引用
收藏
页码：2347 / 2355
页数：9
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