Construct · 1 fields · 1 citations

brokerage free-entry inefficiency: a standalone construct

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Real estate economics

the waste that arises when fixed real estate commissions and rising prices draw too many agents into brokerage, lowering each agent's productivity.

In real estate economics, brokerage free-entry inefficiency refers to the waste that arises when fixed real estate commissions and rising prices draw too many agents into brokerage, lowering each agent's productivity. This meaning comes from Hsieh (2003) in Journal of Political Economy.[1]

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Nearby constructs

agent3 fields · 5 citationsjingle · one word, three constructs estate2 fields · 2 citationsjingle · one word, two carriers productivity3 fields · 3 citationsjingle · one word, three constructs

References

Hsieh, C., & Moretti, E. (2003). Can Free Entry Be Inefficient? Fixed Commissions and Social Waste in the Real Estate Industry. Journal of Political Economy, 111(5), 1076-1122. https://doi.org/10.1086/376953

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