Using the fantastic indices estimated by Eitrheim and Erlandsen (2004), Arne Eichholtz visualised the long term price dynamics (or rather the lack thereof in most years) for Norwegian cities.
- Eitrheim, Ø. and S. Erlandsen (2004). “House price indices for Norway 1819–2003″, in: Eitrheim, Ø., Klovland, J.T., Qvigstad, J.F. (Eds.), Historical Monetary Statistics for Norway. Norges Bank, Oslo, pp. 349–375.
- Grytten, O.H., 2004. A Consumer Price Index for Norway 1516-2003, in: Eitrheim, Ø., Klovland, J.T., Qvigstad, J.F. (Eds.), Historical Monetary Statistics for Norway. Norges Bank, Oslo, pp. 518–519.
- SSB.no (2016). Consumer Price Index
- SSB.no (2016). House Price Indices
The new project my brother Wieland is heavily involved in is making great strides towards establishing a new market for small jobs in Spain: jobMapp aims to connect jobbers with potential customers. While I am not sure I would hire somebody to to my household chores, I am very excited to see that one can now arrange deliveries of documents and small parcels in Madrid through a dedicated website: https://jobmapp.com/servicios/mensajeria-en-madrid
What will be next? Pool cleaning? Redecorating? Moving services? Maid and cleaning services?
One of my research paper has been accepted for publication in the
Journal of Real Estate Finance and Economics:
Cyberspace is no different from traditional cities, at least in economic terms. Urban economics governs the creation of ew space on the Internet and explains location choices and price gradients in virtual space. This study explores registration dynamics in the largest primary market for virtual space: Internet domain names. After developing a framework for domain registrations, it empirically tests whether domain registrations are constrained by the depletion of unregistered high quality domain names. Estimations based on registrations of COM domain names suggest that the number of domains expands substantially slower than the growth in overall demand for domain space. Supplying alternative domain extensions can relax the shortage in domains in the short term.
Read full paper: Monocentric Cyberspace (PDF)
A few months ago, serendipity led me to four prints by my great-grandfather August Potuczek. I do not get tired exploring their fine details (check out the water in the first one!) and overall composition. Links to high resolution scans are available below. Enjoy.
Vor einigen Monaten erstand ich in einen Antiquariat vier Radierungen meines Urgroßvaters August Potuczek. Sie hängen nun in meinem Büro. Ich betrachte sie oft und freue mich über die Komposition – und über die kleinen Überraschungen und Feinheiten, die man erst beim wiederholten Ansehen findet.
Brücke in Brünn
Höhere Auflösung: 300ppi, JPG (16.5 MB) Vollauflösung: 1200ppi, TIF (424 MB)
Rialto Brücke, Venedig
) Vollauflösung: 1200ppi, TIF (365 MB)
) Vollauflösung: 1200ppi, TIF (335 MB)
Vollauflösung: 1200ppi, TIF (427 MB)
A few months ago, I have been retained as an expert witness in a case of allegedly false and misleading advertising by a new gTLD registry. I am now very happy to report that the Judge has granted the Defendants’s motion for summary judgement, deciding in favour of “my” side. The memorandum opinion, among other things, clearly reiterates that “correlation is not causation”, which obviously resonates very well with me.
Katharina Knoll, Moritz Schularick, Thomas Steger provide a great overview and analysis of historical house prices around the world: http://www.dallasfed.org/assets/documents/institute/wpapers/2014/0208.pdf
They find that “house prices in most industrial economies stayed constant in real terms from the 19th to the mid-20th century, but rose sharply in recent decades.”
I have updated my GPG key from 1024 to 4096 bytes. For those who would like to send me encrypted emails (something I am very fond of), here is a link to my new public key:
Public GPG Key Thies Lindenthal
I am pleased to announce that the paper “Pricing Quality Attributes of Internet Domain Names: A Hedonic Model for Words” has been accepted for the 2014 Americas Conference on Information Systems. It is joint work with Prof. Claudia Loebbecke from Cologne University.
The study develops a hedonic pricing model for domain names. The core findings are:
- Domain prices depend on quality attributes and can be partially predicted based on factors like TLD, domain length, number of searches for keywords and many more. The model presented in the paper is far from being useful for practioners trying to value individual domains – it shows, however, that it is possible to build such models.
- Domains that are sold at fixed prices are, on average, of lower quality than domains that are sold in negotiated deals. Sellers concentrate their attention on the high value targets. The study does not make any claims on which sales form provides better results for sellers.
- It is difficult to predict which domains will be developed into full websites after a sale. Still, domains that are developed sell for higher prices than those that are not used or parked after the sale.
- The price premium for domains that are later developed has the same magnitude for fixed price and negotiated deals. We find no evidence of sellers being able to discriminate between domain investors and domain end users.
The full paper can be downloaded here: Hedonic Prices For Words