Abstract
This paper aims to better understand the role modern data and its accessibility has on consumers in the form of buyers and sellers within the housing market. The context of this study is to determine if new services such as Zillow, Realtor.com, as well as any other majorly popular real estate information source for an average consumer hold significant effects on the end sale price of a home. Further motivation for this study is done with the goal of determining if search cost levels directly correlate to house cost levels. This study will be conducted using hedonic theory as its primary foundation, utilizing a hedonic model designed around the house as a good with a vector of characteristics, and then obtaining relevant data which is tested using a multi-linear regression. We attempt to place value on each individual component of the home to isolate price fluctuations which occur and further relate search costs and whether they raise or lower.
Advisor
Burnell, Jim
Department
Economics
Recommended Citation
Stirrat, Paris M., "Consumer Transparency in Real Estate: A Study on Data Accessibility and its Role as an Inhibitive Element of Search Costs within the Housing Market" (2023). Senior Independent Study Theses. Paper 10728.
https://openworks.wooster.edu/independentstudy/10728
Disciplines
Behavioral Economics | Econometrics | Economic Theory | Real Estate
Publication Date
2023
Degree Granted
Bachelor of Arts
Document Type
Senior Independent Study Thesis
© Copyright 2023 Paris M. Stirrat