An Agent-Based Model of Residential Choice Dynamics in Nonstationary Housing Markets

Bibliographic Data

ID4139669
AuthorsOswald T J Devisch (Urban Planning Group, Eindhoven University of Technology, PO Box 513, 5600 MB Eindhoven, The Netherlands), Oswald Devisch (0000-0002-3029-3057, Eindhoven University of Technology, corresponding author), Harry J P Timmermans, Harry Timmermans (0000-0002-8737-4632, Urban Planning Group, Eindhoven University of Technology, PO Box 513, 5600 MB Eindhoven, The Netherlands, corresponding author), Theo A Arentze (Urban Planning Group, Eindhoven University of Technology, PO Box 513, 5600 MB Eindhoven, The Netherlands), Theo Arentze (0000-0003-2551-8650, Eindhoven University of Technology, corresponding author), Aloys W J Borgers, Aloys W J Borger (Urban Planning Group, Eindhoven University of Technology, PO Box 513, 5600 MB Eindhoven, The Netherlands, corresponding author)
Year2009
Volume41
Issue8
Pages1997-2013
Publication date2009-08-01
Open AccessYes
TypeARTICLE
VenueEnvironment and Planning A Economy and Space (JOURNAL)
Journal identifiersISSN: 0308-518X • E-ISSN: 1472-3409
PublisherSAGE Publications Inc (PUBLISHER)
DOI10.1068/a41158
OpenAlexW2077747841
LanguageEN
Citations received5
References cited10

This paper presents an agent-based model developed to simulate residential choice behaviour in a nonstationary housing market. The model is built around the assumption that agents have incomplete and imperfect knowledge, and thus have to base their decisions on beliefs. The aim is to illustrate how the agents deal with the uncertainty inherent in these beliefs, both at the level of a single agent, deciding among a set of successive actions, and at the level of a group of agents, negotiating over the price of a house

Agent-based model · Econometrics · Economics · Imperfect · Microeconomics · Negotiation · Computer Science · Housing Market and Economics · Artificial Intelligence

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