This paper examines the use and value of rental concessions using a 1988 sample of apartment rents in the Greensboro/High Point/Winston-Salem (North Carolina) MSA. The first section develops an approach to the problem and the second section estimates a logit model to predict the use of concessions as a pricing strategy based on characteristics of the apartment. The third section employs a hedonic pricing model to measure the average value of rental concessions in the Greensboro market. The final section summarizes relevant findings.
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Frew et al. (1990) studied this question.
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