Matching in Housing Markets: The Role of Ethnic Social Networks

被引：22

作者：

Agarwal, Sumit ^{[1
]}

Choi, Hyun-Soo ^{[2
]}

He, Jia ^{[3
]}

Sing, Tien Foo ^{[1
]}

机构：

[1] Natl Univ Singapore, Singapore, Singapore

[2] Korea Adv Inst Sci & Technol, 85 Hoegiro, Seoul 02455, South Korea

[3] Nankai Univ, Tianjin, Peoples R China

来源：

REVIEW OF FINANCIAL STUDIES | 2019年 / 32卷 / 10期

关键词：

QUOTAS;

D O I：

10.1093/rfs/hhz006

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper investigates the role of ethnic matching between buyers and sellers in Singapore's public housing market. We find that sellers sell homes in blocks with a high concentration of their own (other) ethnic group(s) at significant premiums (discounts). Chinese sellers earn 1.7% higher premiums when selling homes to Chinese buyers in high Chinese concentrations housing blocks, but Malay sellers accept 1.6% discounts from Malay buyers in the same blocks. We find that the high volume of within-ethnicity transactions with the price discounts is supported by the ethnic social networks, that is, through ethnicity-specialized real estate agents.

引用

页码：3958 / 4004

页数：47

共 21 条

[1]

Agarwal S., 2018, Two Faces of Value Creation in Business Ecosystems: Leveraging Complementarities and Managing Interdependencies

[2]

Agarwal S., J FINANCIAL EC

[3] School allocation rules and housing prices: A quasi-experiment with school relocation events in Singapore [J].