Pricing commercial real estate has its foundations in present value theory. Recent improvements for accessing transaction data have stimulated interest in commercial property hedonic pricing models, the structures of which follow traditions in single-family real estate in that the implicit...

Comparing agent-owner with agent-represented home sales illustrates that commission contracts lead to external agent moral hazard. Real estate developers are sophisticated sellers who can either use external agents or hire internal agents. The theory shows that neither scheme eliminates agent...

This paper examines the effects of quantity restrictions on residential property prices in the presence of neighborhood externalities. A Brigham Young University policy limiting students' location choices provides a natural experiment for studying the externality and quantity restriction effects...