Amazon is coming to town: Sequential information revelation in the housing market
研究发现住房市场能快速吸收信息，以亚马逊逐步公布新总部选址为例，弗吉尼亚附近房价在决策前数月已上涨，而纽约的溢价在取消后消失，反驳了房地产市场反应缓慢的普遍观点。
Abstract This study demonstrates that the housing market can incorporate information quickly instead of slowly over time, using Amazon's gradual revelation of its new headquarters locations in Virginia and New York. Spatial difference‐in‐differences analysis shows that housing prices near the Virginia headquarters exhibit premia months before the decision, while price premia for New York reach before the decision but disappear upon cancellation. The absence of significant effects on transaction volume, construction, or price premia for other finalist cities rules out the possibility of speculation. Overall, this study provides a counterpoint to the commonly held belief that the real estate market is always slow to respond to information about future demand shocks.