The key issue in the hedonic price theory is that although the literature emphasises intrinsic nonlinearity in the relationship between house prices and housing characteristics, very little theoretical guidance is provided with regards to a more appropriate mathematical specification for the...

The key issue in the hedonic price theory is that although the literature emphasises intrinsic nonlinearity in the relationship between house prices and housing characteristics, very little theoretical guidance is provided with regards to a more appropriate mathematical specification for the...

The housing market matching model in this paper considers two types of home-seekers: people who search for a house both in the rental and the homeownership markets, and people who only search in the homeownership market. The house-search process leads to several types of matching and in turn,...