The 2012 Southeastern INFORMS Conference Proceedings
The 2012 Southeastern INFORMS Conference, October 4-5, 2012, Myrtle Beach, South Carolina
A foreclosed property can have a negative impact on the prices of other properties within its neighborhood and these reduced property prices can lead to further foreclosures within the neighborhood; this is known as the foreclosure contagion effect. This effect has been demonstrated, within the real estate literature, to occur. Traditionally, real estate research have used statistical regression to analysis this issues. The application of Agent-based Modeling and Simulation (ABMS) has risen in the last 15 years and has successfully been used to model complexity situations, e.g., the real estate market. ABMS offers a way to explore the impact of different factors on the real estate market without having to experiment on real-world systems. This paper looks at application of ABMS to investigate the foreclosure contagion effect.
Original Publication Citation
Collins, A. J., & Seiler, M. J. (2012). Using agent based modeling to simulate the foreclosure contagion effect. The 2012 Southeastern INFORMS Conference, October 4-5, 2012, Myrtle Beach, South Carolina.
Collins, Andrew J. and Seiler, Michael J., "Using Agent-Based Modeling to Simulate the Foreclosure Contagion Effect" (2012). Engineering Management & Systems Engineering Faculty Publications. 93.