Biography
Abdullah Yavas holds the Robert E. Wangard Real Estate Chair in the department of Real Estate and Urban Land Economics at the University of Wisconsin-Madison’s Wisconsin School of Business. He served as the department chair between 2012 and 2018. He also served as the Academic Director of Graaskamp Center for Real Estate between 2021 and 2023.
Previously, he was the Elliott Professor of Business Administration and the research director of the Institute for Real Estate Studies in the Smeal College of Business at Pennsylvania State University, where he received the Fred Brand Award for Outstanding Teaching, Smeal College’s highest undergraduate teaching award.
His research interests include real estate brokerage, mortgage contracts, real estate auctions, economics of information, and experimental economics.
Yavas has authored or co-authored more than 70 articles in peer-reviewed journals on real estate, finance, and economics.
The results of his research have been cited in some of the nationally known publications, including The Wall Street Journal, The Washington Post, Time, Money, BusinessWeek, The Philadelphia Inquirer, and Boston Sunday Globe. He has consulted for mortgage companies and real estate investment trusts.
Yavas is currently the Editor-in-Chief of Journal of Real Estate Finance and Economics. He served as the editor of Real Estate Economics between 2014 and 2020 and as the elected president of the American Real Estate and Urban Economics Association in 2020. He was a member of the Monetary Policy Committee of the Central Bank of the Republic of Turkey between 2009 and 2021. He is currently a fellow of the Real Estate Research Institute.
He holds a B.A. in business from Bogazici University and a Ph.D. in economics from the University of Iowa.
Research
Selected Accepted Journal Articles
Allen, M. & Rutherford, J. & Rutherford, R. & Yavas, A. & Wedge, L. (2023). Micro Evidence Relating to House Rents, Prices and Investor Size from a Matched Dataset Journal of Real Estate Finance and Economics
Yavas, A. & Zhu, S. (2023). Misreporting of Second Liens in Portfolio Mortgages and Privately Securitized Mortgages Real Estate Economics
Selected Published Journal Articles
Fan, Y. & Yavas, A. (2023). Price Dynamics in Public and Private Commercial Real Estate Markets Journal of Real Estate Finance and Economics
Lu, F. & Li, L. & Yavas, A. (2023). The Impact of Distant Hurricanes on Local Housing Markets Journal of Real Estate Finance and Economics
Li, L. & Yavas, A. & Zhu, B. (2023). Externalities of Residential Property Flipping Real Estate Economics
Higgins, E. & Yavas, A. & Zhu, S. (2022). Private Mortgage Securitization and Loss Given Default Real Estate Economics
Li, L. & Ucar, E. & Yavas, A. (2022). Social Capital and Mortgage Delinquency Journal of Real Estate Finance and Economics
Emmerling, T. & Yavas, A. & Yildirim, Y. (2021). To Accept or Not to Accept: Optimal Strategy for Sellers in Real Estate Real Estate Economics
Fan, Y. & Yavas, A. (2020). How Does Mortgage Debt Affect Household Consumption? Micro Evidence from China Real Estate Economics
Fan, Y. & Yang, Z. & Yavas, A. (2019). Understanding Real Estate Price Dynamics: The Case of Housing Prices in Five Major Cities of China Journal of Housing Economics
Allen, M. & Rutherford , J. & Rutherford, R. & Yavas, A. (2018). Impact of Investors in Distressed Housing Markets Journal of Real Estate Finance and Economics
Tunc, C. & Yavas, A. (2017). Collateral Damage: The Impact of Mortgage Debt on U.S. Savings Housing Policy Debate
Bian, X. & Waller, B. & Yavas, A. (2017). Commission Splits in Real Estate Transactions Journal of Real Estate Finance and Economics
Huddart, S. & Yavas, A. (2017). The Efficiency of Stock-Based Incentives: Experimental Evidence Journal of Behavioral Finance
Tunc, C. & Yavas, A. (2016). Not All Credit is Created Equal: Mortgage vs Non-mortgage Debt and Private Saving Rate in Turkey Central Bank Review
Ambrose, B. & Sanders, A. & Yavas, A. (2016). Servicers and Mortgage-Backed Securities Default: Theory and Evidence Real Estate Economics
Chow , Y. & Hafalir, I. & Yavas, A. (2015). Auction versus Negotiated Sale: Evidence from Real Estate Sales Real Estate Economics
Li, Y. & Yavas, A. (2015). Residential Brokerage in Hot and Cold Markets Journal of Real Estate Finance and Economics
Li, L. & Yavas, A. (2015). The Impact of a Multiple Listing Service Real Estate Economics
Sahin, M. & Sirmans, C. & Yavas, A. (2013). Buyer Brokerage: Experimental Evidence Journal of Housing Economics
Bian, X. & Yavas, A. (2013). Prepayment Penalty as a Screening Mechanism for Default and Prepayment Risks Real Estate Economics
Ikramov , N. & Yavas, A. (2012). Asset Characteristics and Boom and Bust Periods: An Experimental Study Real Estate Economics
Agarwal, S. & Chang, Y. & Yavas, A. (2012). Adverse Selection in Mortgage Securization Journal of Financial Economics
Rutherford, R. & Yavas, A. (2012). Discount Brokerage in Residential Real Estate Markets Real Estate Economics
Ikromov, N. & Yavas, A. (2012). Cash Flow Volatility, Prices and Price Volatility: An Experimental Study Journal of Real Estate Finance and Economics
Yildirim, Y. & Yavas, A. (2011). Price Discovery in Real Estate Markets: A dynamic Analysis Journal of Real Estate Finance and Economics
Vandegrift, D. & Yavas, A. (2011). An Experimental Test of Behavior under Team Production Managerial and Decision Economics
Vandegrift, D. & Yavas, A. (2010). An Experimental Test of Sabotage in Tournaments Journal of Institutional and Theoretical Economics
Fisher, L. & Yavas, A. (2010). Case for Percentage Commission Contracts: The Impact of a “Race” Among Agents Journal of Real Estate Finance and Economics
Chang, Y. & Yavas, A. (2009). Do Borrowers Make Rational Choices on Points and Refinancing? Real Estate Economics
Vandegrift, D. & Yavas, A. (2009). Men, Women and Competition: an Experimental Test of Behavior Journal of Economic Behavior and Organization
Vandergrift, D. & Yavas, A. & Brown, P. (2007). Incentive Effects and Overcrowding in Tournaments: An Experimental Analysis Experimental Economics
Rutherford, R. & Springer, T. & Yavas, A. (2007). Evidence of Information Asymmetries in the Market for Residential Condominiums Journal of Real Estate Finance and Economics
Posey, L. & Yavas, A. (2007). Screening Equilibria in Experimental Markets Geneva Risk and Insurance Review
Fisher, L. & Yavas, A. (2007). The Value of Equitable Redemption in Commercial Mortgage Contracting Journal of Real Estate Finance and Economics
Onder, Z. & Ozyildirim, S. & Yavas, A. (2005). Mobility and Optimal Tenure Choice Journal of Housing Economics
Yavas, A. & Sirmans, C. (2005). Real Options: Experimental Evidence Journal of Real Estate Finance and Economics
Ford, J. & Rutherford, R. & Yavas, A. (2005). The Effects of the Internet on Marketing Residential Real Estate Journal of Housing Economics
Rutherford, R. & Springer, T. & Yavas, A. (2005). Conflicts between Principals and Agents: Evidence from Residential Brokerage Journal of Financial Economics
Harrison, D. & Noordweier, T. & Yavas, A. (2004). Do Riskier Borrowers Borrow More? Real Estate Economics
Yavas, A. (2004). The Color of Credit Journal of Economic Literature
Dokmeci, V. & Onder, Z. & Yavas, A. (2003). External Factors, Housing Values and Rents: Evidence from Survey Data Journal of Housing Research
Katok, E. & Sefton, M. & Yavas, A. (2002). Implementation by Iterative Dominance and Backward Induction: an Experimental Comparison Journal of Economic Theory
Yavas, A. (2002). Endogenous Outside Options in Coordination Games: Experimental Evidence Journal of Economic Behavior and Organization
Yavas, A. & Miceli, T. & Sirmans, C. (2001). An Experimental Analysis of the Impact of Intermediaries on the Outcome of Bargaining Games Real Estate Economics
Abrahms, E. & Sefton, M. & Yavas, A. (2001). An Experimental Comparison of Two Search Models Advances in Experimental Markets
Posey, L. & Yavas, A. (2001). Adjustable and Fixed Rate Mortgages as a Screening Mechanism for Default Risk Journal of Urban Economics
Munneke, H. & Yavas, A. (2001). Incentives and Performance in Real Estate Brokerage: Theory and Evidence Journal of Real Estate Finance and Economics
Yavas, A. (2001). Resolution of Demand Uncertainty and Competitive Rent Adjustment Journal of Housing Economics
Yavas, A. (2001). The Immediacy Service of the Specialist as a Coordination Mechanism International Review of Economics and Finance
Yavas, A. (2001). Impossibility of a Competitive Equilibrium in Brokerage Industry Journal of Real Estate Research
Rutherford, R. & Springer, T. & Yavas, A. (2001). The Impacts of Contract Type on Broker Performance Real Estate Economics
Abrahms, E. & Sefton, M. & Yavas, A. (2000). An Experimental Comparison of Two Search Models Economic Theory
Yavas, A. & Colwell, P. (1999). Buyer Brokerage: Incentive and Efficiency Implications Journal of Real Estate Finance and Economics
Yavas, A. (1998). The Effect of Government Size on Economic Development: Does Too Much Government Investment Retard Economic Development of a Country? Journal of Economic Studies
Sefton, M. & Yavas, A. (1996). Abreu-Matsushima Mechanisms: Experimental Evidence Games and Economic Behavior
Sefton, M. & Yavas, A. (1996). Threat to Regulate and Coordination Failures: Expiermental Evidence Journal of Real Estate Finance and Economics
Yavas, A. (1996). Matching of Buyers and Sellers by Brokers: A Comparison of Alternative Commission Structures Real Estate Economics
Yavas, A. (1996). Search and Trading in Intermediated Markets Journal of Economics and Management Strategy
Yavas, A. (1995). Can Brokerage Have an Equilibrium Selection Role Journal of Urban Economics
Colwell, P. & Yavas, A. (1995). A Comparison of Real Estate Marketing Systems: Theory and Evidence Journal of Real Estate Research
Sefton, M. & Yavas, A. (1995). The Welfare Effects of a subsidy to Multiple Listing Services Journal of Real Estate Finance and Economics
Yang, S. & Yavas, A. (1995). Bigger is Not Better: Brokerage and Time on the Market Journal of Real Estate Research
Yavas, A. & Yang, S. (1995). The Strategic Role of Listing Price in Marketing Real Estate: Theory and Evidence Real Estate Economics
Posey, L. & Yavas, A. (1995). A Search Model of Marketing Systems in Property-Liability Insurance Journal of Risk and Insurance
Yavas, A. (1995). Seller – Broker Relationship as a Double Moral Hazard Problem Journal of Housing Economics
Colwell, P. & Yavas, A. (1994). Demand for Agricultural Land and Strategic Bidding in Auctions Journal of Real Estate Finance and Economics
Kahn, C. & Yavas, A. (1994). The Economic Role of Foreclosures Journal of Real Estate Finance and Economics
Yavas, A. (1994). Economics of Brokerage: An Overview Journal of Real Estate Literature
Yavas, A. (1994). Middlemen in Bilateral Search Markets Journal of Labor Economics
Yavas, A. (1993). A Simple Model of Bid-Ask Spread Search Review of Financial Economics
Colwell, P. & Yavas, A. (1993). The Value of Deed Quality Journal of Real Estate Finance and Economics
Bhattacharya, U. & Yavas, A. (1993). In Search of the Right Middleman Economic Letters
Yavas, A. (1992). Marketmakers versus Matchmakers Journal of Financial Intermediation
Yavas, A. (1992). A Simple Search and Bargaining Model of Real Estate Markets Real Estate Economics
Colwell, P. & Yavas, A. (1992). The Value of Building Codes Real Estate Economics
Service
Professional Organizations
Second Vice President, American Real Estate and Urban Economics Association
American Real Estate and Urban Economics Association
American Real Estate and Urban Economics Association
Real Estate Research Institute Advisory Board
Member of Board of Directors, American Real Estate and Urban Economics Association
Real Estate Research Institute Fellow
Homer Hoyt Institute for Advanced Studies
Editorial and Reviewing Activities
Journal of Real Estate Finance and Economics – Since June 2023
Real Estate Economics – January 2015 – December 2020
Editor
Borsa Istanbul Review – Since November 2012
Editorial Board Member
Real Estate Finance – Since August 2012
Editorial Board Member
Central Bank Review – Since January 2010
Associate Editor
Special issue of The Journal of Real Estate Finance and Economics on Brokerage – January 2006 – December 2006
Special Issue Editor
Journal of Housing Economics – Since January 2002
Editorial Board Member
Mathematical and Computational Applications – January 2001 – December 2013
Editorial Board Member
Real Estate Economics – Since January 2000
Editorial Board Member
Journal of Real Estate Research – Since January 1999
Editorial Board Member
The Journal of Real Estate Finance and Economics – Since January 1996
Editorial Board Member