Date of Award

Fall 2013

Document Type

Thesis

Degree Name

Master of Science (MS)

Department

Computational Modeling & Simulation Engineering

Program/Concentration

Modeling and Simulation

Committee Director

Andrew J. Collins

Committee Member

John Sokolowski

Committee Member

Jose Padiila

Call Number for Print

Special Collections LD4331.E58 V475 2013

Abstract

Foreclosures in the United States increased sharply from 2007 to 2009. These foreclosures had a spillover effect on neighboring property values causing additional foreclosures. This is known as the foreclosure contagion effect.

Recent studies have quantified the discount attributed to foreclosure contagion using equation-based techniques. However, the discount varied between studies and markets. Further studies using agent-based modeling and simulation have demonstrated the relationship between the discounts, the time a foreclosure remains on the market, the prevailing interest rates and the average property values.

This study uses agent-based modeling and simulation (ABMS) to explore the differences that varying neighborhood densities have on the foreclosure contagion effect. Previous research using ABMS has been based on two-dimensional uniform grid layouts. However, property layouts are almost never uniform. This research is aimed at understanding the differences that exist in the foreclosure contagion effect as a result of real property layouts.

Rights

In Copyright. URI: http://rightsstatements.org/vocab/InC/1.0/ This Item is protected by copyright and/or related rights. You are free to use this Item in any way that is permitted by the copyright and related rights legislation that applies to your use. For other uses you need to obtain permission from the rights-holder(s).

DOI

10.25777/1t8g-b979

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