In housing transactions, the selling price is often different from the asking price, being either higher or lower. In setting an asking price, sellers may be motivated by their personal as well as economic circumstances. Thus if they sell because of a job related move they may wish to sell...

This paper examines price expectation adjustment of house buyers and sellers to rapid changes in the housing market using data from Scotland where houses are sold through 'first-price sealed-bid' auctions. These auctions provide more information on market signals, incentives and the behaviour of...

This paper examines price expectation adjustment of house buyers and sellers to rapid changes in the housing market using data from Scotland where houses are sold through “first-price sealed-bid” auctions. These auctions provide more information on market signals, incentives and the...