Simulating Housing Market Processes at the Micro Level

The article describes a simulation of market processes in single-family, owner-occupied housing in a metropolitan market area. The simulation was designed both as a training tool and a decision aid. Model structure is discussed in detail, and data bases for construction are described. The model has substantial face validity (tested with a sizeable number of prominent Realtors), and interesting managerial implications.

• 저널Management Science · 25(6) · 565–576
• 토픽Housing Market and Economics · Economics and Econometrics
• DOI10.1287/mnsc.25.6.565
• 저자Igal Ayal, Donald J. Hempel