Bilevel negotiation protocol for multiagent simulation of housing transactions and market clearing processes

O.T.J. Devisch; T.A. Arentze; A.W.J. Borgers; H.J.P. Timmermans

doi:10.3141/1977-13

Bilevel negotiation protocol for multiagent simulation of housing transactions and market clearing processes

O.T.J. Devisch, T.A. Arentze, A.W.J. Borgers, H.J.P. Timmermans

Urban Planning and Transportation

Research output: Contribution to journal › Article › Academic › peer-review

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Abstract

Models of residential choice behavior play a central role in integrated land use–transportation models. An agent-based model was developed 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. A framework was developed, and the results of numerical experiments conducted to test the model are discussed.

Original language	English
Pages (from-to)	84-92
Number of pages	9
Journal	Transportation Research Record
Volume	1977
DOIs	https://doi.org/10.3141/1977-13
Publication status	Published - 2006

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10.3141/1977-13

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title = "Bilevel negotiation protocol for multiagent simulation of housing transactions and market clearing processes",

abstract = "Models of residential choice behavior play a central role in integrated land use–transportation models. An agent-based model was developed 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. A framework was developed, and the results of numerical experiments conducted to test the model are discussed.",

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AU - Arentze, T.A.

AU - Borgers, A.W.J.

AU - Timmermans, H.J.P.

PY - 2006

Y1 - 2006

N2 - Models of residential choice behavior play a central role in integrated land use–transportation models. An agent-based model was developed 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. A framework was developed, and the results of numerical experiments conducted to test the model are discussed.

AB - Models of residential choice behavior play a central role in integrated land use–transportation models. An agent-based model was developed 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. A framework was developed, and the results of numerical experiments conducted to test the model are discussed.

U2 - 10.3141/1977-13

DO - 10.3141/1977-13

M3 - Article

SN - 0361-1981

VL - 1977

SP - 84

EP - 92

JO - Transportation Research Record

JF - Transportation Research Record

ER -

Bilevel negotiation protocol for multiagent simulation of housing transactions and market clearing processes

Abstract

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