Award Date

1-1-2000

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

Disciplines

Higher Education

File Format

pdf

File Size

1.52 MB

Degree Grantor

University of Nevada, Las Vegas

Language

English

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