This study examines the factors that effect the decision by home buyers to use real estate brokers and the subsequent effect this decision has on home prices. Buyers with high opportunity costs and the least amount of information about local market conditions are the most likely to use brokers;...

Using 1994-1995 microeconomic data from the National Association of Realtors (NAR), this paper estimates cost and profit X-efficiency levels in the residential real estate brokerage market using traditional and Bayesian stochastic frontier models. We find that firms err more from failure to...

This article examines the productive efficiency levels present in the market for residential real estate brokerage services by employing the stochastic frontier approach. The only prior study (Anderson, Zumpano, Elder and Fok, 1998) that examined productive efficiency in this sector employed...

The purpose of this research is to examine buyer search under different market conditions. We conduct a survival regression analysis of survey data generated by the National Association of Realtors for 1988, 1991 and 1993. We find, in all instances, that economic conditions are the dominant...

This study examines the impact of the real estate broker on the effectiveness of buyer search by focusing on the linkages between search intensity and the duration of search. How long a buyer searches depends upon how sensitive the buyer is to within period search costs and across period,...

Using a multiproduct translog cost function, this paper examines the case for economies of scope and density in the market for residential real estate brokerage services. Earlier research that treated output as a homogeneous commodity reported modest economies of scale for this industry. The...

This study examines the effect of the sale and leaseback of corporate real estate on the stock prices of the selling firms. We ask whether the Tax Reform Act of 1986 (TRA 1986) had a negative impact on the market valuation effects of corporate sale and leasebacks. The results of the comparative...

Investors in coupon bonds evaluate them based upon financial considerations such as coupon rate, time-to-maturity, callability, convertibility, and financial condition of the issuer. These investors regard promised yield as only a rough measure of the reward a bond offers to compensate them for...