ECONOMIC AND PUBLIC MANAGEMENT |
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Effect of broker price information mastering on resale housing bargaining efficiency: A study based on experimental economics |
ZHANG Hong1,2, LI Linjun1,2, LI Vera3 |
1. Hang Lung Center for Real Estate, Tsinghua University, Beijing 100084, China;
2. Center for Urbanization and Industrial Development, Tsinghua University, Beijing 100084, China;
3. Department of Accountancy, Hang Seng Management College, Hong Kong 999077, China |
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Abstract Experimental economics was used to study the effect of broker price information mastering on resale housing bargaining efficiency. The formulae for broker price information mastering and resale housing bargaining efficiency were developed with experiments then run to study the relationship between the broker price information mastering and resale housing bargaining efficiency. The results show that the broker price information mastering has no significant impact on the buyer bargaining efficiency and that improving the broker price information mastering increases the seller's bargaining efficiency by 2.27%, the broker's bargaining efficiency by 0.69% and the overall bargaining efficiency by 0.73%.
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Keywords
price information mastering
resale housing
bargaining efficiency
experimental economics
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Issue Date: 15 April 2017
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