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e61 Lounge Session with Kristle Romero Cortés – UNSW re: How Perception Affects House Prices: Evidence from Failed Auctions

12 March @ 12:00 pm - 1:00 pm AEDT

Free

Time & Location

Tuesday 12th March 2024, 12:00 pm – 1:00 pm
e61 Institute, Level 3/17-21 Bellevue Street Surry Hills NSW 2010, Australia | In-Person Event Only

 

About the event

Kristle Romero Cortés will be presenting on: How Perception Affects House Prices: Evidence from Failed Auctions

Abstract

In the Australian real estate market, about a third of properties are sold at auction. Properties that fail auctions sell later for a 1.3% discount. Consistent with a causal channel, the effect holds with property-level fixed effects and when auction failure is instrumented by adverse weather (rain). Prices cluster just below round numbers, and the discount fades over time, inconsistent with our effects reflecting unobserved property characteristics. The evidence suggests that there are behavioural factors affecting potential buyers’ willingness to pay.

 

Details

Date:
12 March
Time:
12:00 pm - 1:00 pm AEDT
Cost:
Free

Organizer

e61 Institute
Email
contact@e61.in
View Organizer Website

Venue

e61 Institute
Level 3/17-21 Bellevue Street
Surry Hills, NSW 2010 Australia
View Venue Website

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e61 Lounge Session with Kristle Romero Cortés – UNSW re: How Perception Affects House Prices: Evidence from Failed Auctions


e61 Institute Level 3/17-21 Bellevue Street, Surry Hills, NSW, 2010, Australia
Loading Events

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  • This event has passed.

e61 Lounge Session with Kristle Romero Cortés – UNSW re: How Perception Affects House Prices: Evidence from Failed Auctions

12 March @ 12:00 pm - 1:00 pm AEDT

Free

Time & Location

Tuesday 12th March 2024, 12:00 pm – 1:00 pm
e61 Institute, Level 3/17-21 Bellevue Street Surry Hills NSW 2010, Australia | In-Person Event Only

 

About the event

Kristle Romero Cortés will be presenting on: How Perception Affects House Prices: Evidence from Failed Auctions

Abstract

In the Australian real estate market, about a third of properties are sold at auction. Properties that fail auctions sell later for a 1.3% discount. Consistent with a causal channel, the effect holds with property-level fixed effects and when auction failure is instrumented by adverse weather (rain). Prices cluster just below round numbers, and the discount fades over time, inconsistent with our effects reflecting unobserved property characteristics. The evidence suggests that there are behavioural factors affecting potential buyers’ willingness to pay.

 

Details

Date:
12 March
Time:
12:00 pm - 1:00 pm AEDT
Cost:
Free

Organizer

e61 Institute
Email
contact@e61.in
View Organizer Website

Venue

e61 Institute
Level 3/17-21 Bellevue Street
Surry Hills, NSW 2010 Australia
View Venue Website

Time & Location

Tuesday 12th March 2024, 12:00 pm – 1:00 pm
e61 Institute, Level 3/17-21 Bellevue Street Surry Hills NSW 2010, Australia | In-Person Event Only

 

About the event

Kristle Romero Cortés will be presenting on: How Perception Affects House Prices: Evidence from Failed Auctions

Abstract

In the Australian real estate market, about a third of properties are sold at auction. Properties that fail auctions sell later for a 1.3% discount. Consistent with a causal channel, the effect holds with property-level fixed effects and when auction failure is instrumented by adverse weather (rain). Prices cluster just below round numbers, and the discount fades over time, inconsistent with our effects reflecting unobserved property characteristics. The evidence suggests that there are behavioural factors affecting potential buyers’ willingness to pay.

 

Loading Events

« All Events

  • This event has passed.

e61 Lounge Session with Kristle Romero Cortés – UNSW re: How Perception Affects House Prices: Evidence from Failed Auctions

12 March @ 12:00 pm - 1:00 pm AEDT

Free

Time & Location

Tuesday 12th March 2024, 12:00 pm – 1:00 pm
e61 Institute, Level 3/17-21 Bellevue Street Surry Hills NSW 2010, Australia | In-Person Event Only

 

About the event

Kristle Romero Cortés will be presenting on: How Perception Affects House Prices: Evidence from Failed Auctions

Abstract

In the Australian real estate market, about a third of properties are sold at auction. Properties that fail auctions sell later for a 1.3% discount. Consistent with a causal channel, the effect holds with property-level fixed effects and when auction failure is instrumented by adverse weather (rain). Prices cluster just below round numbers, and the discount fades over time, inconsistent with our effects reflecting unobserved property characteristics. The evidence suggests that there are behavioural factors affecting potential buyers’ willingness to pay.

 

Details

Date:
12 March
Time:
12:00 pm - 1:00 pm AEDT
Cost:
Free

Organizer

e61 Institute
Email
contact@e61.in
View Organizer Website

Venue

e61 Institute
Level 3/17-21 Bellevue Street
Surry Hills, NSW 2010 Australia
View Venue Website