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Time Curse: an auction related phenomenon on the Swedish housing market
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
2013 (English)Independent thesis Advanced level (degree of Master (Two Years)), 20 credits / 30 HE creditsStudent thesis
Abstract [en]

In this master thesis I investigate how housing prices on the Swedish housing market are affected by changes in bidders’ decision time. By incorporating Construal Level Theory from the psychological framework, I find evidence in favor of a Time Curse, stating that prices on apartments are expected increase if bidders have less time to evaluate the object at auction. The results suggests a increase of between 0 - 30 000 SEK for each day of extra decision time, counted as time in between open houses and auction length. These findings have implications for optimal auction design and affects policy makers, broker agencies as well as buyers and sellers of apartments. Also, it could have implications for efficiency outcomes in mixed private-public auctions.

Place, publisher, year, edition, pages
Keyword [en]
Optimal auction design; private-public value auctions; Construal Level Theory; efficiency
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URN: urn:nbn:se:uu:diva-203627OAI: oai:DiVA.org:uu-203627DiVA: diva2:637098
Available from: 2013-07-16 Created: 2013-07-16 Last updated: 2013-07-16Bibliographically approved

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