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Paper eres2016_210:
Overpricing, Market Outcomes,and Advertising Effectiveness

id eres2016_210
authors Lukas; Moritz; Vito Mollica; Markus No_th; Stefan Tru_ck
year 2016
title Overpricing, Market Outcomes,and Advertising Effectiveness
source 23rd Annual European Real Estate Society Conference in Regensburg, Germany
summary This study investigates whether and to what extent the effectiveness of advertising is limited by overpricing of the advertised good. Using a unique dataset from the Australian residential property market, we find that 1) advertising is effective in increasing a property’s sale hazard and 2) advertising effectiveness is significantly reduced by overpricing. The monotonous decrease of advertising effectiveness with the extent of overpricing suggests that potential buyers are aware of the existence and the extent of overpricing. These patterns cannot be explained with absolute price levels and shed new light on the effectiveness of advertising relative to pricing aspects.
series ERES:conference
type paper session
discussion No discussions. Post discussion ...
session Residential Real Estate
last changed 2017/11/18 16:16
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