16 research outputs found
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Spatio-temporal diffusion of residential land prices across Taipei regions
ABSTRACT: Past studies have shown that changes in the house price of a region may transmit to its neighbouring regions. The transmission mechanism may follow spatial and temporal diffusion processes. This paper investigates such regional housing market dynamics and interactions among local housing sub-markets in Taipei. The analysis is based on a panel data framework and spatial panel models using annual data on median residential land prices from 41 Taipei sub-markets over the period from 1992 to 2010. The empirical analysis suggests that spatial dependence plays a significant role in interactions among regional housing markets. The results are strongly robust across several model specifications and regions controlling for time fixed effects and space-time covariance. These findings have significant implications for urban spatial planning and efficient use of public resources in mega-urban areas. JEL CLASSIFICATIONS: C21; C23; R12; H5
Aggregating behaviour in invasive Caribbean lionfish is driven by habitat complexity
Caribbean lionfish (Pterois spp.) are considered the most heavily impacting invasive marine vertebrate ever recorded. However, current management is largely inadequate, relying on opportunistic culling by recreational SCUBA divers. Culling efficiency could be greatly improved by exploiting natural aggregations, but to date this behaviour has only been recorded anecdotally, and the drivers are unknown. We found aggregations to be common in situ, but detected no conspecific attraction through visual or olfactory cues in laboratory experiments. Aggregating individuals were on average larger, but showed no further differences in morphology or life history. However, using visual assessments and 3D modelling we show lionfish prefer broad-scale, but avoid fine-scale, habitat complexity. We therefore suggest that lionfish aggregations are coincidental based on individuals’ mutual attraction to similar reef structure to maximise hunting efficiency. Using this knowledge, artificial aggregation devices might be developed to concentrate lionfish densities and thus improve culling efficiency
Real Estate Brokerage Earnings: The Role of Choice of Compensation Scheme
Real estate brokerage, Determinants of earnings, Sample selection bias,
A multivariate unobserved component analysis of US housing market
Common Factors, Housing Prices, Kalman Filter, Unobserved Components, State-space, E30, G0, R31,
The Optimal Choice for Lenders Facing Defaults: Short Sale, Foreclose, or REO
Housing prices, Default, Short Sale, Foreclose, REO,
The Limited-Service Brokerage Decision: Theory and Evidence
Limited-service, Brokerage, Principal-agent,
Foreign Ownership of Stocks and Long-run Interdependence Between National Housing and Stock Markets—Evidence from Finnish Data
Housing, Stocks, Co-movement, Cointegration, Diversification, G10, G11,