A Game-Theoretic Approach to Hedonic Housing Prices

A property-s selling price is described as the result of sequential bargaining between a buyer and a seller in an environment of asymmetric information. Hedonic housing prices are estimated based upon 17,333 records of New Zealand residential properties sold during the years 2006 and 2007.

Authors:

• Cielito F. Habito
• Michael O. Santos
• Andres G. Victorio

Keywords:

• Housing demand
• hedonics and valuation
• residentialmarkets.

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