Matching of Buyers and Sellers by Brokers: A Comparison of Alternative Commission Structures
作者:
Abdullah Yavas,
期刊:
Real Estate Economics
(WILEY Available online 1996)
卷期:
Volume 24,
issue 1
页码: 97-112
ISSN:1080-8620
年代: 1996
DOI:10.1111/1540-6229.00682
出版商: Blackwell Publishing Ltd
数据来源: WILEY
摘要:
This note characterizes the set of Pareto optimal and stable matchings among buyers and sellers and examines the optimality of matching strategies employed by brokers under different commission structures. It is shown that the profit‐maximizing matching strategy for the broker under percentage commission and flat‐fee systems also maximizes the number of houses sold, but it minimizes the buyers' and sellers' surplus. On the other hand, net listing results in the sale of fewer houses, but it yields larger surplus for buyers and sell
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