Cheung, Ka Shing; Chan, TszKin Julian; Li, Sijie; Yiu, … - In: Journal of risk and financial management : JRFM 14 (2021) 9, pp. 1-22
Conventional wisdom suggests that non-local buyers usually pay a premium for home purchases. While the standard … contract theory predicts that non-local buyers may pay such a price premium because of the higher cost of gathering information … omitted variable biases, non-local buyers (sellers) are found to buy (sell) at a higher (lower) price than their local …
