基于信息传递的北京住房二级市场信息成本

Information cost in Beijing's secondary housing market based on information transmission

该文研究信息不对称下住房二级市场中的信息传递行为,从信息传递导致的价值损失角度探究买卖双方信息成本的形成过程,并推导其计算方法;利用Hedonic模型和北京市2008年住房二级市场数据,构建买方和卖方最优价格模型,进而计算买卖双方的信息成本。研究表明:住房二级市场的买卖双方均会因信息传递而产生信息成本;买方和卖方的信息成本分别为实际交易价格的13.65%和19.09%,卖方信息成本大于买方信息成本。为降低信息成本,建议完善住房二级市场的信息传递机制,房地产经纪机构、政府以及行业协会应为市场交易方提供更多信息。

Information transmission in the secondary housing market with information asymmetry was studied to determine the information cost based on the value loss for both the buying and selling parties.The Hedonic model was used with Beijing secondary housing market data from 2008 to determine bid-price and sell-price models and the information costs for both sides.The results indicate that both the buying and selling parties suffer information costs due to the information transmission.The information cost for the selling party is 19.09% of the actual transaction price and that for the buying party is 13.65%;thus,the seller suffers more information cost than the buyer.Suggestions to reduce information costs include improving information transmission and having real estate brokerages,government organizations and industry associations disclose more information.