Bilevel Negotiation Protocol for Multiagent Simulation of Housing Transactions and Housing Market Clearing Processes.

Author(s)
Timmermans, H.J. Arentze, T. Borgers, A. & Devisch, O.
Year
Abstract

Models of residential choice behavior play a central role in integrated land-use - transportation models. This paper develops an agent-based model of the negotiation process between selling- and buying-agents to represent price-formation and clearance processes in housing markets. The model takes into account the heterogeneity of the goods traded, behavior protocols, imperfect knowledge and strategic behavior of interacting households and real-estate agents in price negotiations. The paper develops a framework and discusses the results of numerical experiments that were conducted in order to test the model.

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Publication

Library number
C 43855 (In: C 43607 CD-ROM) /72 / ITRD E841975
Source

In: Compendium of papers presented at the 85th Annual Meeting of the Transportation Research Board TRB, Washington, D.C., January 22-26, 2006, 20 p.

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