Why Do Buyers Pay Different Prices for Comparable Products? Evidence from the Housing Market

R. Siebert, Michael J. Seiler
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引用次数: 1

Abstract

We focus on the housing market and examine why nonlocal home buyers (NLBs) pay 15 percent more for houses than local home buyers (LBs). We estimate a housing demand model that returns heterogeneous willingness to pay parameters for housing attributes. Our results show that NLBs are willing to pay more for specific housing attributes, especially for house size and school quality. We also find that gratification and reward arguments, and imperfect price information explain the price differential to a large extent. Search cost and house age arguments have an adverse effect on NLBs’ house spending.
为什么买家为同类产品支付不同的价格?来自房地产市场的证据
我们专注于住房市场,并研究为什么非本地购房者(NLBs)比本地购房者(LBs)多支付15%的房屋费用。我们估计了一个住房需求模型,该模型返回了住房属性的异质性支付意愿参数。我们的研究结果表明,nlb愿意为特定的住房属性支付更多的钱,尤其是房子的大小和学校的质量。我们还发现,满足和奖励论点以及不完善的价格信息在很大程度上解释了价格差异。搜索成本和房屋年龄的争论对非就业人群的住房支出有不利影响。
本文章由计算机程序翻译,如有差异,请以英文原文为准。
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