Trends in Real Estate Research, 1988-2001: What's Hot and What's Not

This paper examines publications and citations for topic and technique trends in JREFE and REE during the period 1988-2001. Publication and citation patterns reveal real estate as a largely empirical field. The mix of topics and techniques published by the two journals as well as sources cited and garnering citations are converging over time. Within topic of technique categories, the most frequently cited papers or authors tend to garner citations that vary with the relative popularity of the category in the broader literature. Yet, the impacts of top contributors reflect significant contributions outside their most cited research in one specialized one topic area or technique

Theil\u27s nonparametric estimation in event study methodology

Event studies have become a frequently employed tool for researchers in financial economics. The identification of the direction, magnitude, and speed of security price changes in response to new information provides immediate feedback to investors, management, and government regulatory bodies.^ Crucial to the correct determination of whether or not an event actually has had an impact is the measurement of excess security returns. Previous research about event study techniques has supported the use of nonparametric test statistics because of the non-normality observed in security returns. These studies have used a parametric procedure in the estimation of parameters for the market model. This dissertation, in contrast, applies Theil\u27s nonparametric regression in the estimation of abnormal returns; an approach that is distribution free and provides a more internally consistent nonparametric approach for the detection of abnormal performance.^ Simulation results indicate that Theil\u27s estimation offers improved power in the detection of abnormal performance over the traditional methodology. The results are robust as to choice of stock market examined (NYSE or NASDAQ), size of the portfolio, and event induced variance increases. The nonparametric combination of the Theil estimation procedure and the rank statistic is found to provide higher power in the symmetrical detection of both negative and positive abnormal performance.

A Flexible Fourier Approach to Repeat Sales Price Indexes

Time periods are typically highly aggregated for repeat sales estimators because of the small number of observations available in some periods. We use a flexible Fourier expansion to account for time, which we treat as a continuous variable. Our estimator saves degrees of freedom and enables us to estimate the price index efficiently even for times with few sales. We present estimated price indexes for the City of Chicago, Cook County, and several suburbs. Copyright 2001 by the American Real Estate and Urban Economics Association.

Review of the genus Beckhoplia Dombrow, 2005 with the description of fifteen new species from South Africa and observations on its biogeography (Coleoptera: Scarabaeidae: Melolonthinae: Hopliini)

Dombrow, Holger E., Colville, Jonathan F. (2020): Review of the genus Beckhoplia Dombrow, 2005 with the description of fifteen new species from South Africa and observations on its biogeography (Coleoptera: Scarabaeidae: Melolonthinae: Hopliini). Zootaxa 4823: 1-79, DOI: https://doi.org/10.11646/zootaxa.4823.1.

Spatial Competition and Shopping Externalities: Evidence from the Housing Market

In search markets, greater spatial concentration of sellers increases price competition. At the same time, though, a greater concentration of sellers can create a shopping externality by attracting more buyers to the site. Using housing sales data, we test for spatial competition and shopping externality effects on prices and marketing time. We find that they reflect both competitive and shopping externality effects from surrounding houses, although the relative strength varies with how fresh the house is in the market, the freshness of surrounding houses, and the phase of the market cycle. New listings have the strongest shopping externality effect on neighboring houses that have been on the market for some time. Vacant houses have their strongest competition effects in the declining market and externality effects in the rising market. Fresh houses on the market reap little benefit from shopping externalities in all phases of the market cycle. Copyright Springer Science + Business Media, LLC 2006Spatial competition, Shopping externalities, Housing, D83, R21, R31,

Individual Agents, Firms, and the Real Estate Brokerage Process

This study examines how individual agents affect house selling prices and time on the market while controlling for brokerage firm-specific effects as well as supply and demand conditions that vary by neighborhood. Firm size effects disappear once firm specialization and agent characteristics are taken into account but geographic concentration by firms leads to higher selling prices. For individual agents, neither sex nor selling own listings affects price or selling time, but there are gains from partnering transactions across firms. Agents who specialize in listing properties obtain higher prices for their sellers while those who specialize in selling obtain lower prices for their buyers. Houses nearer to other transactions of an agent sell for higher prices. Finally, greater scale of listing and selling activity by an agent tends to lower selling price or lengthen the time on the market. Copyright Springer Science+Business Media, LLC 2007Real estate agents, Brokers, Brokerage, Housing, G24, R21, R31,