We show that Zheng (2002)’s optimal mechanism in the presence of resale can be interpreted as an equilibrium of an ascending-price auction and, in the two-bidder case, as an equilibrium with a no-regret property of the English and second-price auctions. We also show that it can be extended...

The rapid population and economic growth of the Greater Toronto Area (GTA) in the late 1940?s and early 1950?s put a significant strain on the financial and administrative capabilities of the existing municipal governments. However, the existing municipalities wanted to preserve local interest...

This paper examines the economics of residential real estate brokerage. Section 2 discusses the role of the residential real estate agent - what the listing agent does, what the selling agent does, and broadly how the residential real estate brokerage market is organized. Section 3 examines...