Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/217918
Title: BARGAINING POWER IN HDB RESALE MARKET
Authors: LIM WEE TAT JOSEPH
Keywords: Bargaining power
Demographic characteristics
Hedonic model
Resale market
Issue Date: 2004
Citation: LIM WEE TAT JOSEPH (2004). BARGAINING POWER IN HDB RESALE MARKET. ScholarBank@NUS Repository.
Abstract: Limitation of the traditional hedonic model can cause some essential features of the market to be overlooked. In the housing market where bargaining is a common practice between buyers and sellers, it has been largely ignored in the hedonic model. This dissertation establishes sufficient conditions from the empirical model on the work from Harding, Rosenthal and Sirmans (2001) to establish a model that allows the identification of the bargaining power in the context of local housing market. Specifically, the characteristics of the buyer, seller and agent are observed and their impact on the bargaining power is examined within the framework of the hedonic model. Results suggest that some demographic characteristics of buyers/sellers are more influential than others in measuring the bargaining power. In addition, only gender and education level of agents have an impact on the bargaining power. However, overall findings suggest that it is possible to uncover the bargaining effects provided that identification conditions are imposed and suitable data is available. Given bargaining is a natural and common feature in the housing market, the ability to identify bargaining power allows us to gain greater insight to the housing market.
URI: https://scholarbank.nus.edu.sg/handle/10635/217918
Appears in Collections:Bachelor's Theses

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