Purpose: This paper aims to study the relationship between the rental and selling prices, a very important topic that forms the fundamentals of real estate markets. Design/methodology/approach: This theoretical paper makes use of a search and matching model of the housing market. The search and...

Purpose: This paper aims to explain the main empirical facts of housing markets, notably the trade-off between housing price and time-on-the-market, the positive correlation between housing price and the number of contracts traded during a given period (i.e. the trading volume) and the...

This paper aims to provide a simple method for measuring the price dispersion in the housing market controlling for the differences in attributes or qualities of the residential real estate units. Precisely, the paper proposes an extended hedonic pricing model which incorporates standard market...

In the housing markets three basic facts have been repeatedly reported by empirical studies: the existence of price dispersion, the trade-off between housing price and time-on-the-market, and the positive correlation between housing price and trading volume. Since housing markets are...

The aim of this short paper is to empirically test the key hypothesis of the ‘slippery slope' framework, namely: (1) trust (in) and power (of) tax authorities are both necessary to guarantee a high level of tax compliance; (2) the interaction between trust and power, as well as voluntary tax...

This very brief note improves the paper by Lisi (2012) by removing from the model an unrealistic feature.

Purpose: The purpose of this paper is to comment upon the use of hedonic pricing models for the valuation of property. This model can be particularly useful for some housing markets. Design/methodology/approach: This Education Briefing is an explanation of the how hedonic pricing can be useful...

Purpose: The purpose of this paper is to provide an integrated approach that combines the two methods usually used in the real estate appraisals, namely, the income capitalisation method and the hedonic model. Design/methodology/approach: In order to pull out the link between the income...

Purpose: The aim of this education briefing is to comment upon how basic hedonic pricing models for the valuation of property can be expanded and developed. In this case, the briefing illustrates the use of the new economic approach to the analysis of housing markets, namely the...