Steven Levitt and Chad Syverson compared instances of home sales in which real estate agents are hired
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Steven Levitt and Chad Syverson compared instances of home sales in which real estate agents are hired by others to sell a home to instances in which an agent sells his or her own home. They found that homes owned by real estate agents sold for 3.7 percent more than other houses and stayed on the market 9.5 days longer, everything else being equal. How could moral hazard explain these results?
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