Abstract
Harding Rosenthal, and Sirmans examine data from the American Housing Survey and demonstrate that it is possible to uncover bargaining power effects in housing market transactions related to demographic attributes of sellers and buyers (age, education level, gender, marital status, race, etc.) included in that database. Colwell and Munneke3 extend this approach to commercial real estate assets (office properties) and find that bargaining power effects can be uncovered by considering types of sellers and buyers (individuals, corporations, and financial institutions) without knowledge of their specific attributes that often are difficult to measure or observe for samples large enough for reliable statistical analysis.
