Most previous empirical research estimates a greater than 20% discount associated with the sale of foreclosed properties. Under the assumption that the real estate market is somewhat efficient, such a large discount would be counterintuitive. We argue, and empirically show, that the estimated...

A ranking of individuals who publish in three real estate journals shows that through the end of 1990 the top 10% of the authors had at least four articles in these journals. Among the top 10% of real estate authors (sixty-four individuals), some are finance authors who occasionally publish in...

"We present evidence that accurate estimates of the labor-earning/employer-provided health insurance trade-off must account for two different effects: the heterogeneity of jobs and the endogeneity of health insurance. The size of the trade-off depends on employees' contribution to premiums,...

Most previous empirical studies of price spillover effects of foreclosure on no-default transactions are based on data from a stable housing-market period. In this paper, we use 2008 transactions from a housing market with a relatively large number of REO/foreclosures. Our overall results...

When a seller hires an agent to sell his/her property, a successful outcome depends on the list price, marketing time, unobserved relative bargaining power of the buyers and sellers, and the effort levels of the seller and the seller’s agent. A divergence with respect to the list/transaction...