Towards Infusing Institutions and Agency into House Price Analysis

摘要: The article puts forward the argument that housing market and property value models currently lack an adequate methodological basis. In order to improve conceptual framework of economic analysis behaviour, necessary institutional parameters need be included. This, however, causes further difficulties, because some institutions are predominantly informal operate at cognitive level behaviour. While problem overstrict assumptions aggregate has been tackled successfully, next fundamental solve is how disaggregate feasibly demand-side analysis. One possibility for this generate preference profiles actors with different backgrounds, using a multicriteria decision technique such as analytical hierarchy process (AHP).