Paper Info
Title
A multi-agent model of urban processes: Modelling relocation processes and price setting in housing markets
Abstract
This paper introduces an agent-based micro-simulation model of housing market processes. The model describes aggregate housing market developments, such as price and turnover, as the outcome of households' decisions to search for a new dwelling, accept an offered dwelling or sell their dwelling. An important feature of the model is that households' decisions are based on perceptions of housing market probabilities. Households update these perceptions based on observed bargaining outcomes in the market. The model was tested in a simulation experiment and appeared to respond plausibly to different market settings in terms of prices and households' perception of the market. (C) 2010 Elsevier Ltd. All rights reserved.
Year
DOI
Venue
2011
10.1016/j.compenvurbsys.2010.06.005
Computers, Environment and Urban Systems
Keywords
DocType
Volume
Agent based model,Housing market,Price setting
Journal
35
Issue
ISSN
Citations 
1
0198-9715
17
PageRank 
References 
Authors
1.56
4
1
Name
Order
Citations
PageRank
Dick Ettema1225.05