Empirical Analysis on the System Revisions of Judicial Real Estate Auctions: Comparison with General Real Estate Trading-Reference-Cited by-同舟云学术

Empirical Analysis on the System Revisions of Judicial Real Estate Auctions: Comparison with General Real Estate Trading

Published:2021 Issue: Volume: Page:91-112
ISSN:2199-5974
Container-title:New Frontiers in Regional Science: Asian Perspectives
language:
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Author:

Ooka Yusuke

Abstract

AbstractThis paper shows the effect of a series of system revisions of judicial real estate auction in the 2000s on three factors: bid acceptance ratio, number of bidders, and highest bid. Using multiyear data of auctions from multiple district courts, I estimate the improvement of the three factors by the revision.Furthermore, comparing real estate auction data with voluntary sale and general real estate trading data, I find that the selling price in auction was greatly lower than the price in voluntary sale even after the system revisions. Based on the empirical results, I suggest about necessity of further system revisions.

Publisher

Springer Singapore

Link

http://link.springer.com/content/pdf/10.1007/978-981-15-8848-8_7

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