Award Date
1-1-2001
Degree Type
Thesis
Degree Name
Master of Arts (MA)
Department
Economics
First Committee Member
Bradley S. Wimmer
Number of Pages
60
Abstract
Adverse selection may affect the resale housing market. Sellers hold valuable information concerning the quality of their homes that is not directly available to buyers. If buyers are unable to identify quality, the relocation decision is different for owners of low and high-quality houses. Since information is asymmetric owners of low-quality houses are more likely to relocate than owners of high-quality houses, other things constant. Thus, I suggest that quality is decreasing in the number of times a house has been resold. The presence of a relationship between price and the number of times a house has been resold is consistent with the hypothesis that adverse selection influences the resale housing market. My hedonic pricing model results supports this hypothesis. Moreover, as a house's turnover rate increases, consumer's willingness to pay for that house decreases, other things constant.
Keywords
Adverse; Housing; Las Vegas; Market; Nevada; Presence; Resale; Selection; Vegas
Controlled Subject
Economics; Finance
File Format
File Size
1556.48 KB
Degree Grantor
University of Nevada, Las Vegas
Language
English
Permissions
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Repository Citation
Bledsoe, Ryan Matthew, "The presence of adverse selection in the Las Vegas resale housing market" (2001). UNLV Retrospective Theses & Dissertations. 1308.
http://dx.doi.org/10.25669/2yvn-4b40
Rights
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