Samenvatting
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.