RDP 2014-09: Predicting Dwelling Prices with Consideration of the Sales Mechanism
Equation (B5)
p
t
≡
1
P
t
∑
i
=
1
P
t
p
t
i
=
μ
t
P
+
1
P
t
∑
i
=
1
P
t
(
1
−
ψ
i
t
)
ε
i
t
p
b
+
1
P
t
∑
i
=
1
P
t
ψ
i
t
ε
i
t
p
s
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