{"id":"https://openalex.org/W3173445940","doi":null,"title":"Strategic Default and Moral Hazard in Real Estate: Insights from Machine Learning Applications","display_name":"Strategic Default and Moral Hazard in Real Estate: Insights from Machine Learning Applications","publication_year":2021,"publication_date":"2021-01-01","ids":{"openalex":"https://openalex.org/W3173445940","mag":"3173445940"},"language":"en","primary_location":{"id":"pmh:oai:academicworks.cuny.edu:gc_etds-5402","doi":null,"is_oa":true,"landing_page_url":"https://academicworks.cuny.edu/gc_etds/4335","pdf_url":"https://academicworks.cuny.edu/gc_etds/4335","source":{"id":"https://openalex.org/S4377196304","display_name":"CUNY Academic Works (City University of New York)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I174216632","host_organization_name":"City University of New York","host_organization_lineage":["https://openalex.org/I174216632"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Dissertations, Theses, and Capstone Projects","raw_type":"dissertation"},"volume":null,"type":"dissertation","is_traditional":true,"indexed_in":[],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://academicworks.cuny.edu/gc_etds/4335","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5039490263","display_name":"Arka Prava Bandyopadhyay","orcid":"https://orcid.org/0000-0003-3350-4849","observed_orcids":["https://orcid.org/0000-0003-3350-4849"]},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Arka Bandyopadhyay","raw_affiliation_strings":[],"raw_orcid":"https://orcid.org/0000-0003-3350-4849","affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":0,"corresponding_author_ids":["https://openalex.org/A5039490263"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":0,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10632","display_name":"Housing Market and Economics","score":0.975600004196167,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10632","display_name":"Housing Market and Economics","score":0.975600004196167,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11496","display_name":"Credit Risk and Financial Regulations","score":0.007799999788403511,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.0032999999821186066,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/strategic-default","display_name":"strategic default","score":0.9900000095367432},{"id":"https://openalex.org/keywords/moral-hazard","display_name":"moral hazard","score":0.9390000104904175},{"id":"https://openalex.org/keywords/commercial-mortgages","display_name":"commercial mortgages","score":0.9269999861717224},{"id":"https://openalex.org/keywords/residential-mortgages","display_name":"residential mortgages","score":0.7749999761581421},{"id":"https://openalex.org/keywords/liquidity-constraints","display_name":"liquidity constraints","score":0.7020000219345093},{"id":"https://openalex.org/keywords/soft-information","display_name":"soft information","score":0.6489999890327454},{"id":"https://openalex.org/keywords/textual-data","display_name":"text data","score":0.43799999356269836},{"id":"https://openalex.org/keywords/information-asymmetry","display_name":"information asymmetry","score":0.7099999785423279},{"id":"https://openalex.org/keywords/mortgage-securitization","display_name":"mortgage securitization","score":0.7120000123977661},{"id":"https://openalex.org/keywords/information-loss","display_name":"information loss","score":0.6610000133514404},{"id":"https://openalex.org/keywords/mortgage-brokers","display_name":"mortgage brokers","score":0.39500001072883606},{"id":"https://openalex.org/keywords/mortgage-origination","display_name":"mortgage origination","score":0.43299999833106995},{"id":"https://openalex.org/keywords/deep-neural-network","display_name":"deep neural network","score":0.5899999737739563},{"id":"https://openalex.org/keywords/machine-learning-in-finance","display_name":"machine learning in finance","score":0.3709999918937683},{"id":"https://openalex.org/keywords/real-estate","display_name":"real estate","score":0.3070000112056732}],"concepts":[{"id":"https://openalex.org/C2780202544","wikidata":"https://www.wikidata.org/wiki/Q44454","display_name":"Moral hazard","level":3,"score":0.6668452024459839},{"id":"https://openalex.org/C82279013","wikidata":"https://www.wikidata.org/wiki/Q684740","display_name":"Real estate","level":2,"score":0.5942957997322083},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.48291894793510437},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.4733942747116089},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3603551983833313},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.35122978687286377},{"id":"https://openalex.org/C112930515","wikidata":"https://www.wikidata.org/wiki/Q4389547","display_name":"Risk analysis (engineering)","level":1,"score":0.3503601849079132},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3318541646003723},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.1317051351070404},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.12347543239593506}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:academicworks.cuny.edu:gc_etds-5402","doi":null,"is_oa":true,"landing_page_url":"https://academicworks.cuny.edu/gc_etds/4335","pdf_url":"https://academicworks.cuny.edu/gc_etds/4335","source":{"id":"https://openalex.org/S4377196304","display_name":"CUNY Academic Works (City University of New York)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I174216632","host_organization_name":"City University of New York","host_organization_lineage":["https://openalex.org/I174216632"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Dissertations, Theses, and Capstone Projects","raw_type":"dissertation"},{"id":"mag:3173445940","doi":null,"is_oa":false,"landing_page_url":"https://academicworks.cuny.edu/cgi/viewcontent.cgi?article=5402&context=gc_etds","pdf_url":null,"source":null,"license":null,"license_id":null,"version":null,"is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":null}],"best_oa_location":{"id":"pmh:oai:academicworks.cuny.edu:gc_etds-5402","doi":null,"is_oa":true,"landing_page_url":"https://academicworks.cuny.edu/gc_etds/4335","pdf_url":"https://academicworks.cuny.edu/gc_etds/4335","source":{"id":"https://openalex.org/S4377196304","display_name":"CUNY Academic Works (City University of New York)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I174216632","host_organization_name":"City University of New York","host_organization_lineage":["https://openalex.org/I174216632"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Dissertations, Theses, and Capstone Projects","raw_type":"dissertation"},"sustainable_development_goals":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W3173445940.pdf","grobid_xml":"https://content.openalex.org/works/W3173445940.grobid-xml"},"referenced_works_count":92,"referenced_works":["https://openalex.org/W155930736","https://openalex.org/W179875071","https://openalex.org/W185051937","https://openalex.org/W1522039302","https://openalex.org/W1570156658","https://openalex.org/W1588069130","https://openalex.org/W1678356000","https://openalex.org/W1969828434","https://openalex.org/W1971617473","https://openalex.org/W1974495185","https://openalex.org/W1981184437","https://openalex.org/W1988115241","https://openalex.org/W1999174846","https://openalex.org/W2003756933","https://openalex.org/W2011696317","https://openalex.org/W2013119054","https://openalex.org/W2017358761","https://openalex.org/W2019282556","https://openalex.org/W2040989045","https://openalex.org/W2047769094","https://openalex.org/W2048658075","https://openalex.org/W2049017883","https://openalex.org/W2070105213","https://openalex.org/W2082023814","https://openalex.org/W2084367698","https://openalex.org/W2090489751","https://openalex.org/W2095169544","https://openalex.org/W2095705004","https://openalex.org/W2098570427","https://openalex.org/W2101204102","https://openalex.org/W2104139212","https://openalex.org/W2104459881","https://openalex.org/W2107743791","https://openalex.org/W2110218709","https://openalex.org/W2115629999","https://openalex.org/W2120018410","https://openalex.org/W2132339004","https://openalex.org/W2135274825","https://openalex.org/W2137983211","https://openalex.org/W2146904825","https://openalex.org/W2148143831","https://openalex.org/W2149000122","https://openalex.org/W2149389356","https://openalex.org/W2151504427","https://openalex.org/W2161388792","https://openalex.org/W2163848058","https://openalex.org/W2165053060","https://openalex.org/W2168693997","https://openalex.org/W2201485590","https://openalex.org/W2488758210","https://openalex.org/W2581835336","https://openalex.org/W2603785580","https://openalex.org/W2745448636","https://openalex.org/W2754214338","https://openalex.org/W2762385132","https://openalex.org/W2766736793","https://openalex.org/W2785138022","https://openalex.org/W2792018968","https://openalex.org/W2797246651","https://openalex.org/W2803250561","https://openalex.org/W2889626940","https://openalex.org/W2900838405","https://openalex.org/W2919115771","https://openalex.org/W2938726659","https://openalex.org/W2963970686","https://openalex.org/W2968349877","https://openalex.org/W2971296170","https://openalex.org/W3102476541","https://openalex.org/W3121413557","https://openalex.org/W3121573664","https://openalex.org/W3121588992","https://openalex.org/W3121687468","https://openalex.org/W3121961156","https://openalex.org/W3122253784","https://openalex.org/W3122496033","https://openalex.org/W3122595409","https://openalex.org/W3122597088","https://openalex.org/W3123479441","https://openalex.org/W3123601295","https://openalex.org/W3123683539","https://openalex.org/W3125813198","https://openalex.org/W3125891475","https://openalex.org/W3126052810","https://openalex.org/W3126053622","https://openalex.org/W3126131304","https://openalex.org/W3133501651","https://openalex.org/W3174932077","https://openalex.org/W3187704809","https://openalex.org/W3209809080","https://openalex.org/W4243682803","https://openalex.org/W4384338759","https://openalex.org/W6910681941"],"related_works":["https://openalex.org/W7223046990","https://openalex.org/W3151231014","https://openalex.org/W1589913431","https://openalex.org/W7098593136","https://openalex.org/W3196259414","https://openalex.org/W7095500115","https://openalex.org/W2161809594","https://openalex.org/W7097082246","https://openalex.org/W7097924335","https://openalex.org/W2624818674"],"abstract_inverted_index":{"Strategic":[0],"default":[1,16,54,67,320],"has":[2,17,28,95,120,156,429],"been":[3,121,134,157,190,201,430],"the":[4,40,53,62,69,83,89,100,116,125,129,141,145,150,153,163,175,179,183,187,193,205,210,219,244,262,294,332,339,345,352,375,404,408,418,434,453,461,476,480,485,497],"achilles":[5],"heel":[6],"in":[7,78,196,243,269,338,374,396,442,452,465,479,508],"academic":[8,444],"finance":[9],"for":[10,174,323,505],"decades.":[11],"By":[12],"definition,":[13],"whether":[14],"a":[15,26,35,112,158,298,313,380,470],"occurred":[18],"due":[19,285],"to":[20,98,275,286,311,317,330,368,383,493,495],"strategic":[21,36,64,324],"motive":[22,101],"is":[23,450],"unobservable.":[24],"Moreover,":[25],"household":[27],"only":[29],"so":[30],"many":[31],"avenues":[32],"of":[33,42,56,66,85,102,107,111,152,160,207,246,256,264,288,300,351,366,420,436,475,484,510],"conducting":[34],"default.":[37,103,325],"I":[38,59,222,240,343,378,402,468,489],"use":[39,263,496],"context":[41],"commercial":[43,270],"mortgages":[44],"as":[45,48,361,363,501],"property":[46,50],"value":[47],"well":[49],"cashflow":[51],"co-determine":[52],"decision":[55],"these":[57,257,357],"borrowers.":[58,130],"tease":[60],"out":[61],"different":[63],"aspects":[65],"from":[68,72,218,389],"ones":[70],"emanating":[71],"liquidity":[73],"constraints.":[74],"The":[75,326],"recent":[76,431],"advances":[77],"Deep":[79,301],"Neural":[80,302],"Network":[81,303],"(DNN),":[82],"advent":[84],"big":[86],"data":[87,229,289,393],"and":[88,115,168,198,238,271,290,308,321,348,355,410,416,425,439],"computational":[90,291],"power":[91],"associated":[92],"with":[93,304],"it":[94],"enabled":[96],"me":[97],"disentangle":[99,318],"Also,":[104],"agency":[105],"conflicts":[106],"brokers":[108,188],"during":[109,149,192,209],"origination":[110],"mortgage":[113,413],"loan":[114],"moral":[117],"hazards":[118],"thereof":[119],"documented":[122],"based":[123],"on":[124,204,230,399,433],"soft":[126,142,180,387],"information":[127,143,181,208,388,405],"about":[128,144,162,182,394],"However,":[131],"there":[132,199],"have":[133,189,200],"few,":[135],"if":[136,370],"any":[137],"paper,":[138],"which":[139,213,250,279],"retains":[140],"borrowers,":[146],"post":[147,172],"origination,":[148],"life":[151],"loans.":[154],"There":[155,428],"plethora":[159],"research":[161],"biases":[164],"generated":[165],"towards":[166],"foreclosures":[167],"other":[169,305],"adverse":[170],"outcomes":[171],"securitization":[173,197,211],"last":[176],"decade.":[177],"But":[178],"borrowers":[184,237,395,409],"obtained":[185],"by":[186,226],"lost":[191],"pooling":[194],"process":[195,212,245],"famous":[202],"papers":[203],"loss":[206],"happens":[214],"at":[215,473],"arms\u2019":[216],"length":[217],"original":[220],"lender.":[221],"bridge":[223],"this":[224],"gap":[225],"using":[227,460,482],"novel":[228,381],"proprietary":[231],"call":[232,390],"transcripts":[233],"(textual":[234],"data)":[235],"between":[236,407,422],"servicers.":[239,427],"am":[241,490],"also":[242,491],"procuring":[247],"audio":[248],"files":[249],"can":[251],"capture":[252],"mood,":[253],"content,":[254],"tone":[255],"communications.":[258],"My":[259],"dissertation":[260],"documents":[261],"machine":[265,486],"learning":[266,441,487],"(ML)":[267],"techniques":[268],"residential":[272],"real":[273,457],"estate":[274,458],"answer":[276,331],"long-standing":[277],"questions,":[278],"could":[280],"not":[281,371],"previously":[282],"be":[283],"answered":[284],"paucity":[287],"resources.":[292],"In":[293],"first":[295],"chapter,":[296],"Irun":[297],"horserace":[299],"ML":[306,397],"models":[307,310,398],"parametric":[309],"provide":[312],"new":[314],"identification":[315],"strategy":[316],"liquidity-constrained":[319],"incentives":[322],"second":[327],"chapter":[328,377],"attempts":[329],"most":[333,509],"pressing":[334],"current":[335,498,512],"socio-economic":[336],"issue":[337],"United":[340],"States.":[341],"Specifically,":[342],"compute":[344],"social,":[346],"racial":[347],"dollar":[349],"cost":[350],"CARES":[353],"Act":[354],"find":[356],"adhoc":[358],"policies":[359],"are":[360],"expensive":[362],"direct":[364],"payment":[365],"$2,000":[367],"households,":[369],"worse.":[372],"Finally,":[373],"third":[376],"create":[379],"framework":[382],"ingest":[384],"quantified":[385],"time-varying":[386],"transcript":[391],"text":[392],"hard":[400],"information.":[401],"alleviate":[403],"asymmetry":[406],"issuers,":[411],"increase":[412],"market":[414],"efficiency":[415],"mitigate":[417],"conflict":[419],"interest":[421],"master":[423],"servicers":[424],"special":[426],"literature":[432,459,481],"applications":[435],"supervised,":[437],"unsupervised":[438],"reinforcement":[440],"mainstream":[443],"finance.":[445],"But,":[446],"very":[447],"little":[448],"work":[449],"done":[451],"highly":[454],"illiquid":[455],"opaque":[456],"cutting":[462],"edge":[463],"methods":[464],"Machine":[466],"Learning.":[467],"take":[469],"fresh":[471],"look":[472],"some":[474,483],"long-debated":[477],"questions":[478],"techniques.":[488],"able":[492,494],"COVID-19":[499],"pandemic":[500],"an":[502],"exogenous":[503],"shock":[504],"robustness":[506],"check":[507],"my":[511],"research.":[513]},"counts_by_year":[],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2021-07-05T00:00:00"}