英文摘要 |
Most hedonic price studies focused on the influence of housing and location attributes, ignoring the influence of seller's pricing strategies on selling price. This paper examines the different pricing strategies based on degree of overpricing (DOP) and price concession (PC) on selling price. The empirical results reveal that the considerations of the pricing strategies can improve the fitness of hedonic models. In addition, a seller applying greater DOP and less PC can get higher selling price, but it may reduce the pool of potential buyers and result in higher holding costs because of extending time on market. The results suggest that sellers should seriously consider the trade off relationship between higher selling price and longer selling time to design optimal pricing strategy. |