This study provides new evidence on the outcomes of auctions of residential real estate, focusing on the effects of bidder turnout, pricing, market conditions and auction houses. Our analysis of properties offered for sale by auction in Singapore from 1995 to 2000 shows that several variables...

This dissertation consists of three essays related to the efficiency of real estate markets.The first essay attempts to explain the causes of these inefficiencies by attributing them to unique characteristics of real estate markets. We consider an experimental asset market where all investors...

This dissertation comprises of three essays related to real estate auctions:The first essay examines the increase in number of bidders on bidding behavior. In a standard auction, bidders bid more aggressively when the number of bidders increases. However, Krishna and Rosenthal (1996, Games and...

This thesis consists of three essays.In the first essay, we examine the option compensation problem of how to optimally set the option exercise price when options have conflicting roles in both inducing management effort and encouraging management cheating. In the risk-neutral setting with both...