We compare house sales on a For-Sale-By-Owner (FSBO) platform to Multiple Listing
Service (MLS) sales and find that FSBO precommission prices are no lower, but that FSBO is …

This paper investigates how trading frictions vary with the thickness of the asset market by
examining patterns of asset allocations and prices in commercial aircraft markets. The …

Quantitatively, we investigate the allocative and welfare effects of secondary markets for
cars. An important source of gains from trade in these markets is the heterogeneity in the …

We present an infinite-horizon model of endogenous trading in the art auction market.
Agents make purchase and sale decisions based on the relative magnitude of their private …

The provision of owner-occupied versus rental houses is modeled as a competitive search
economy where households have private information over their expected duration. With …

Fixed costs models are difficult to analyze because they feature non-degenerate, time-
varying distributions of capital across firms. If investments are sufficiently long-lived however …

I develop a tractable dynamic model of the housing market where the prices are determined
in auctions rather than by Nash bargaining as in the housing search model from the …

The paper analyzes a durable goods monopoly problem in which multiple varieties can be
sold. A robust Coase conjecture establishes that the market eventually clears, with profits …

If consumer valuations change over time, then secondary‐market frictions may raise
monopoly profits and cause durability to be distorted away from the cost‐minimizing level. A …

Abstract In the European Union, Energy Performance Certificates (EPCs) provide potential
buyers or tenants with information on a property's energy performance. By mitigating …