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dc.contributor.authorAnundsen, Andre Kallåk
dc.contributor.authorRøed Larsen, Erling
dc.date.accessioned2018-12-03T13:25:39Z
dc.date.available2018-12-03T13:25:39Z
dc.date.created2018-09-25T16:36:52Z
dc.date.issued2018
dc.identifier.citationInternational Economic Review. 2018, 59 (4), 2133-2162.nb_NO
dc.identifier.issn0020-6598
dc.identifier.urihttp://hdl.handle.net/11250/2575819
dc.description.abstractUsing highly granular transaction-level data for the Norwegian housing market over the period 2002–2014, we investigate whether excessive prices persist or revert in repeat sales. Excessiveness in prices is detected by comparing selling prices to predicted prices implied by a hedonic model, which includes a rich set of attributes. Persistence is rejected and there is substantial reversion in excessive prices. Our results also show little scope for profitable arbitrage by investing in apparently underpriced units. We suggest that excessive prices are related to the stochastic arrival of interested purchasers at public showings, which we show is nonrepeatable.nb_NO
dc.language.isoengnb_NO
dc.publisherWileynb_NO
dc.titleTesting for micro-efficiency in the housing marketnb_NO
dc.typeJournal articlenb_NO
dc.typePeer reviewednb_NO
dc.description.versionacceptedVersionnb_NO
dc.source.pagenumber2133-2162nb_NO
dc.source.volume59nb_NO
dc.source.journalInternational Economic Reviewnb_NO
dc.source.issue4nb_NO
dc.identifier.doi10.1111/iere.12332
dc.identifier.cristin1613561
dc.description.localcodeForfatterversjon 2nb_NO
cristin.unitcode158,3,0,0
cristin.unitnameInstitutt for samfunnsøkonomi
cristin.ispublishedtrue
cristin.fulltextpostprint
cristin.qualitycode2


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