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id DDSS2006-PB-185
authors O.T.J. Devisch, H.J.P. Timmermans, T.A. Arentze, and A.W.J. Borgers
year 2006
title Modelling Residential Search and Location Choice - Framework and Numerical Experiments
source Van Leeuwen, J.P. and H.J.P. Timmermans (eds.) 2006, Progress in Design & Decision Support Systems in Architecture and Urban Planning, Eindhoven: Eindhoven University of Technology, ISBN-10: 90-386-1756-9, ISBN-13: 978-90-386-1756-5, p. 185-200
summary People only move a limited number of times during their lifetime. Factors such as high financial costs, local social networks, emotional bounds, etc. make that people typically postpone this decision as long as possible, up to the point where the benefit of alternative housing outperforms all these factors. Then things generally have to go fast. This combination of time-pressure, high costs and lack in experience turn residential search and location choice into a complex decision process. This paper presents a model developed to grasp some of this complexity. Households are approached as autonomous decision-makers continuously evaluating whether to search for information, to visit houses for inspection, to start negotiating with the owner of a house for sale or to do nothing and stay in the current house. Households make these evaluations on the basis of beliefs regarding their environment and update these beliefs each time they collect new information on this environment.
keywords Microsimulation, Spatial simulation models, Strategic decision-making, State dependent behaviour, Belief-updating
series DDSS
full text file.pdf (235,175 bytes)
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100%; open Arentze, T.A. and H.J.P. Timmermans (2005) Find in CUMINCAD Modeling learning and adaptation in transportation contexts , Transportmetrica, 1: 1322

100%; open Baryla, E.A., L.V. Zumpano and H.W. Elder (2000) Find in CUMINCAD An Investigation of Buyer Search in the Residential Real Estate Market under Different Market Conditions , Journal of Real Estate Research, 20(1-2): 75-91

100%; open Blijie, B. (2004) Find in CUMINCAD A New Theoretical Model for Residential Choice Behaviour and Measuring the Influence of Accessibility , Paper presented at the 17th European Advanced Studies Institute in Regional Science, Croatia

100%; open Chorus, C.G., E.J.E. Molin and B. Van Wee (2005) Find in CUMINCAD Use and Effects of ATIS: a Review of Literature , Forthcoming in Transport Reviews

100%; open Devisch, O., T.A. Arentze, A.W.J. Borgers and H.J.P. Timmermans (2006) Find in CUMINCAD Bi-level negotiation protocol for multi-agent simulation of transactions and market clearing processes. An application to the housing market , Proceedings of the 85th Annual Meeting of the Transportation Research Board, Washington DC., CD-Rom: 16 p.

100%; open Manning, R. and P. Morgan (1985) Find in CUMINCAD Optimal search , Econometrica, 53(4): 92-944

100%; open Neapolitan, R.E. (1990) Find in CUMINCAD Probabilistic reasoning in expert systems: theory and algorithms , John Wiley & Sons, New York

100%; open Richardson, A. (1982) Find in CUMINCAD Search Models and Choice Set Generation , Transportation Research A, 16A(5-6): 403-419

100%; open Torrens, P.M. (2001) Find in CUMINCAD New Tools for Simulating Housing Choices , Paper presented at the Special Fannie Mae Foundation Session: Housing and the New Economy, Washington, D.C.

100%; open Waddell, P. (2001) Find in CUMINCAD Towards a Behavioral Integration of Land Use and Transportation Modeling , Paper presented at the 9th International Association for Travel Behavior Research Conference, Queensland, Australia

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