id	sid	tid	token	lemma	pos
fsr-3891	1	1	pii	pii	PROPN
fsr-3891	1	2	:	:	PUNCT
fsr-3891	1	3	s1057	s1057	NOUN
fsr-3891	1	4	-	-	PUNCT
fsr-3891	1	5	0810(99)00042	0810(99)00042	NUM
fsr-3891	1	6	-	-	SYM
fsr-3891	1	7	6	6	NUM
fsr-3891	1	8	an	an	DET
fsr-3891	1	9	analysis	analysis	NOUN
fsr-3891	1	10	of	of	ADP
fsr-3891	1	11	affinity	affinity	NOUN
fsr-3891	1	12	programs	program	NOUN
fsr-3891	1	13	:	:	PUNCT
fsr-3891	1	14	the	the	DET
fsr-3891	1	15	case	case	NOUN
fsr-3891	1	16	of	of	ADP
fsr-3891	1	17	real	real	ADJ
fsr-3891	1	18	estate	estate	NOUN
fsr-3891	1	19	brokerage	brokerage	NOUN
fsr-3891	1	20	participation	participation	NOUN
fsr-3891	1	21	danielle	danielle	PROPN
fsr-3891	1	22	lewisa	lewisa	PROPN
fsr-3891	1	23	,	,	PUNCT
fsr-3891	1	24	randy	randy	PROPN
fsr-3891	1	25	i.	i.	PROPN
fsr-3891	1	26	andersonb	andersonb	PROPN
fsr-3891	1	27	,	,	PUNCT
fsr-3891	1	28	*	*	PUNCT
fsr-3891	1	29	,	,	PUNCT
fsr-3891	1	30	1	1	NUM
fsr-3891	1	31	,	,	PUNCT
fsr-3891	1	32	leonard	leonard	PROPN
fsr-3891	1	33	v.	v.	PROPN
fsr-3891	1	34	zumpanoc	zumpanoc	PROPN
fsr-3891	1	35	adepartment	adepartment	PROPN
fsr-3891	1	36	of	of	ADP
fsr-3891	1	37	economics	economic	NOUN
fsr-3891	1	38	,	,	PUNCT
fsr-3891	1	39	college	college	NOUN
fsr-3891	1	40	of	of	ADP
fsr-3891	1	41	business	business	PROPN
fsr-3891	1	42	administration	administration	PROPN
fsr-3891	1	43	,	,	PUNCT
fsr-3891	1	44	southeastern	southeastern	ADJ
fsr-3891	1	45	louisiana	louisiana	PROPN
fsr-3891	1	46	university	university	PROPN
fsr-3891	1	47	,	,	PUNCT
fsr-3891	1	48	hammond	hammond	PROPN
fsr-3891	1	49	,	,	PUNCT
fsr-3891	1	50	la	la	PROPN
fsr-3891	1	51	70402	70402	NUM
fsr-3891	1	52	,	,	PUNCT
fsr-3891	1	53	usa	usa	PROPN
fsr-3891	1	54	bschool	bschool	PROPN
fsr-3891	1	55	of	of	ADP
fsr-3891	1	56	business	business	NOUN
fsr-3891	1	57	,	,	PUNCT
fsr-3891	1	58	samford	samford	PROPN
fsr-3891	1	59	university	university	PROPN
fsr-3891	1	60	,	,	PUNCT
fsr-3891	1	61	800	800	NUM
fsr-3891	1	62	lakeshore	lakeshore	NOUN
fsr-3891	1	63	drive	drive	NOUN
fsr-3891	1	64	,	,	PUNCT
fsr-3891	1	65	birmingham	birmingham	PROPN
fsr-3891	1	66	,	,	PUNCT
fsr-3891	1	67	al	al	PROPN
fsr-3891	1	68	35229	35229	NUM
fsr-3891	1	69	,	,	PUNCT
fsr-3891	1	70	usa	usa	PROPN
fsr-3891	1	71	calabama	calabama	PROPN
fsr-3891	1	72	real	real	ADJ
fsr-3891	1	73	estate	estate	NOUN
fsr-3891	1	74	research	research	NOUN
fsr-3891	1	75	and	and	CCONJ
fsr-3891	1	76	education	education	NOUN
fsr-3891	1	77	center	center	NOUN
fsr-3891	1	78	,	,	PUNCT
fsr-3891	1	79	the	the	DET
fsr-3891	1	80	university	university	NOUN
fsr-3891	1	81	of	of	ADP
fsr-3891	1	82	alabama	alabama	PROPN
fsr-3891	1	83	,	,	PUNCT
fsr-3891	1	84	149	149	NUM
fsr-3891	1	85	bidgood	bidgood	NOUN
fsr-3891	1	86	hall	hall	NOUN
fsr-3891	1	87	,	,	PUNCT
fsr-3891	1	88	tuscaloosa	tuscaloosa	PROPN
fsr-3891	1	89	,	,	PUNCT
fsr-3891	1	90	al	al	PROPN
fsr-3891	1	91	35486	35486	NUM
fsr-3891	1	92	,	,	PUNCT
fsr-3891	1	93	usa	usa	PROPN
fsr-3891	1	94	received	receive	VERB
fsr-3891	1	95	5	5	NUM
fsr-3891	1	96	january	january	NOUN
fsr-3891	1	97	1999	1999	NUM
fsr-3891	1	98	;	;	PUNCT
fsr-3891	1	99	received	receive	VERB
fsr-3891	1	100	in	in	ADP
fsr-3891	1	101	revised	revise	VERB
fsr-3891	1	102	form	form	NOUN
fsr-3891	1	103	7	7	NUM
fsr-3891	1	104	july	july	PROPN
fsr-3891	1	105	1999	1999	NUM
fsr-3891	1	106	;	;	PUNCT
fsr-3891	1	107	accepted	accept	VERB
fsr-3891	1	108	18	18	NUM
fsr-3891	1	109	october	october	PROPN
fsr-3891	1	110	1999	1999	NUM
fsr-3891	1	111	abstract	abstract	NOUN
fsr-3891	1	112	in	in	ADP
fsr-3891	1	113	this	this	DET
fsr-3891	1	114	study	study	NOUN
fsr-3891	1	115	,	,	PUNCT
fsr-3891	1	116	we	we	PRON
fsr-3891	1	117	examine	examine	VERB
fsr-3891	1	118	the	the	DET
fsr-3891	1	119	impact	impact	NOUN
fsr-3891	1	120	of	of	ADP
fsr-3891	1	121	affinity	affinity	NOUN
fsr-3891	1	122	programs	program	NOUN
fsr-3891	1	123	on	on	ADP
fsr-3891	1	124	the	the	DET
fsr-3891	1	125	residential	residential	ADJ
fsr-3891	1	126	real	real	ADJ
fsr-3891	1	127	estate	estate	NOUN
fsr-3891	1	128	brokerage	brokerage	NOUN
fsr-3891	1	129	market	market	NOUN
fsr-3891	1	130	.	.	PUNCT
fsr-3891	2	1	the	the	DET
fsr-3891	2	2	results	result	NOUN
fsr-3891	2	3	indicate	indicate	VERB
fsr-3891	2	4	that	that	SCONJ
fsr-3891	2	5	affinity	affinity	NOUN
fsr-3891	2	6	-	-	PUNCT
fsr-3891	2	7	participating	participate	VERB
fsr-3891	2	8	firms	firm	NOUN
fsr-3891	2	9	employ	employ	VERB
fsr-3891	2	10	more	more	ADJ
fsr-3891	2	11	salespeople	salesperson	NOUN
fsr-3891	2	12	,	,	PUNCT
fsr-3891	2	13	operate	operate	VERB
fsr-3891	2	14	more	more	ADJ
fsr-3891	2	15	offices	office	NOUN
fsr-3891	2	16	,	,	PUNCT
fsr-3891	2	17	are	be	AUX
fsr-3891	2	18	more	more	ADV
fsr-3891	2	19	likely	likely	ADJ
fsr-3891	2	20	to	to	PART
fsr-3891	2	21	be	be	AUX
fsr-3891	2	22	franchised	franchise	VERB
fsr-3891	2	23	,	,	PUNCT
fsr-3891	2	24	and	and	CCONJ
fsr-3891	2	25	have	have	VERB
fsr-3891	2	26	more	more	ADJ
fsr-3891	2	27	multiple	multiple	ADJ
fsr-3891	2	28	listings	listing	NOUN
fsr-3891	2	29	service	service	NOUN
fsr-3891	2	30	affiliations	affiliation	NOUN
fsr-3891	2	31	than	than	ADP
fsr-3891	2	32	their	their	PRON
fsr-3891	2	33	nonparticipating	nonparticipating	NOUN
fsr-3891	2	34	counterparts	counterpart	NOUN
fsr-3891	2	35	.	.	PUNCT
fsr-3891	3	1	we	we	PRON
fsr-3891	3	2	directly	directly	ADV
fsr-3891	3	3	test	test	VERB
fsr-3891	3	4	for	for	ADP
fsr-3891	3	5	firm	firm	ADJ
fsr-3891	3	6	and	and	CCONJ
fsr-3891	3	7	industry	industry	NOUN
fsr-3891	3	8	efficiency	efficiency	NOUN
fsr-3891	3	9	using	use	VERB
fsr-3891	3	10	a	a	DET
fsr-3891	3	11	bayesian	bayesian	NOUN
fsr-3891	3	12	stochastic	stochastic	ADJ
fsr-3891	3	13	frontier	frontier	NOUN
fsr-3891	3	14	technique	technique	NOUN
fsr-3891	3	15	,	,	PUNCT
fsr-3891	3	16	and	and	CCONJ
fsr-3891	3	17	find	find	VERB
fsr-3891	3	18	strong	strong	ADJ
fsr-3891	3	19	evidence	evidence	NOUN
fsr-3891	3	20	that	that	SCONJ
fsr-3891	3	21	non	non	ADJ
fsr-3891	3	22	-	-	ADJ
fsr-3891	3	23	affinity	affinity	ADJ
fsr-3891	3	24	firms	firm	NOUN
fsr-3891	3	25	are	be	AUX
fsr-3891	3	26	much	much	ADV
fsr-3891	3	27	more	more	ADV
fsr-3891	3	28	efficient	efficient	ADJ
fsr-3891	3	29	at	at	ADP
fsr-3891	3	30	allocating	allocate	VERB
fsr-3891	3	31	and	and	CCONJ
fsr-3891	3	32	utilizing	utilize	VERB
fsr-3891	3	33	their	their	PRON
fsr-3891	3	34	resources	resource	NOUN
fsr-3891	3	35	.	.	PUNCT
fsr-3891	4	1	these	these	DET
fsr-3891	4	2	findings	finding	NOUN
fsr-3891	4	3	cast	cast	VERB
fsr-3891	4	4	concerns	concern	NOUN
fsr-3891	4	5	on	on	ADP
fsr-3891	4	6	the	the	DET
fsr-3891	4	7	industry	industry	NOUN
fsr-3891	4	8	in	in	ADP
fsr-3891	4	9	light	light	NOUN
fsr-3891	4	10	of	of	ADP
fsr-3891	4	11	the	the	DET
fsr-3891	4	12	growth	growth	NOUN
fsr-3891	4	13	of	of	ADP
fsr-3891	4	14	affinity	affinity	NOUN
fsr-3891	4	15	programs	program	NOUN
fsr-3891	4	16	.	.	PUNCT
fsr-3891	5	1	©	©	PROPN
fsr-3891	5	2	2000	2000	NUM
fsr-3891	5	3	elsevier	elsevier	PROPN
fsr-3891	5	4	science	science	PROPN
fsr-3891	5	5	inc	inc	PROPN
fsr-3891	5	6	.	.	PUNCT
fsr-3891	6	1	all	all	DET
fsr-3891	6	2	rights	right	NOUN
fsr-3891	6	3	reserved	reserve	VERB
fsr-3891	6	4	.	.	PUNCT
fsr-3891	7	1	jel	jel	PROPN
fsr-3891	7	2	classification	classification	PROPN
fsr-3891	7	3	:	:	PUNCT
fsr-3891	7	4	l85	l85	PROPN
fsr-3891	7	5	;	;	PUNCT
fsr-3891	7	6	c11	c11	NOUN
fsr-3891	7	7	keywords	keyword	NOUN
fsr-3891	7	8	:	:	PUNCT
fsr-3891	7	9	real	real	ADJ
fsr-3891	7	10	estate	estate	NOUN
fsr-3891	7	11	brokerage	brokerage	NOUN
fsr-3891	7	12	;	;	PUNCT
fsr-3891	7	13	affinity	affinity	NOUN
fsr-3891	7	14	programs	program	NOUN
fsr-3891	7	15	;	;	PUNCT
fsr-3891	7	16	efficiency	efficiency	NOUN
fsr-3891	7	17	*	*	PUNCT
fsr-3891	7	18	corresponding	correspond	VERB
fsr-3891	7	19	author	author	NOUN
fsr-3891	7	20	.	.	PUNCT
fsr-3891	8	1	tel.:11	tel.:11	PROPN
fsr-3891	8	2	-	-	PUNCT
fsr-3891	8	3	205	205	NUM
fsr-3891	8	4	-	-	PUNCT
fsr-3891	8	5	726	726	NUM
fsr-3891	8	6	-	-	PUNCT
fsr-3891	8	7	2128	2128	NUM
fsr-3891	8	8	;	;	PUNCT
fsr-3891	8	9	fax:11	fax:11	NOUN
fsr-3891	8	10	-	-	PUNCT
fsr-3891	8	11	205	205	NUM
fsr-3891	8	12	-	-	PUNCT
fsr-3891	8	13	726	726	NUM
fsr-3891	8	14	-	-	SYM
fsr-3891	8	15	2464	2464	NUM
fsr-3891	8	16	.	.	PUNCT
fsr-3891	9	1	e	e	X
fsr-3891	9	2	-	-	NOUN
fsr-3891	9	3	mail	mail	NOUN
fsr-3891	9	4	address:rianders@samford.edu	address:rianders@samford.edu	PROPN
fsr-3891	9	5	(	(	PUNCT
fsr-3891	9	6	r.i	r.i	PROPN
fsr-3891	9	7	.	.	PROPN
fsr-3891	9	8	anderson	anderson	PROPN
fsr-3891	9	9	)	)	PUNCT
fsr-3891	9	10	1	1	NUM
fsr-3891	9	11	the	the	DET
fsr-3891	9	12	work	work	NOUN
fsr-3891	9	13	on	on	ADP
fsr-3891	9	14	this	this	DET
fsr-3891	9	15	paper	paper	NOUN
fsr-3891	9	16	was	be	AUX
fsr-3891	9	17	started	start	VERB
fsr-3891	9	18	while	while	SCONJ
fsr-3891	9	19	the	the	DET
fsr-3891	9	20	author	author	NOUN
fsr-3891	9	21	was	be	AUX
fsr-3891	9	22	at	at	ADP
fsr-3891	9	23	northeast	northeast	PROPN
fsr-3891	9	24	louisiana	louisiana	PROPN
fsr-3891	9	25	university	university	PROPN
fsr-3891	9	26	.	.	PUNCT
fsr-3891	10	1	financial	financial	ADJ
fsr-3891	10	2	services	service	NOUN
fsr-3891	10	3	review	review	VERB
fsr-3891	10	4	8	8	NUM
fsr-3891	10	5	(	(	PUNCT
fsr-3891	10	6	1999	1999	NUM
fsr-3891	10	7	)	)	PUNCT
fsr-3891	10	8	183–197	183–197	NUM
fsr-3891	10	9	1057	1057	NUM
fsr-3891	10	10	-	-	SYM
fsr-3891	10	11	0810/00/$	0810/00/$	NUM
fsr-3891	10	12	–	–	PUNCT
fsr-3891	10	13	see	see	VERB
fsr-3891	10	14	front	front	ADJ
fsr-3891	10	15	matter	matter	NOUN
fsr-3891	11	1	©	©	PROPN
fsr-3891	11	2	2000	2000	NUM
fsr-3891	11	3	elsevier	elsevier	PROPN
fsr-3891	11	4	science	science	PROPN
fsr-3891	11	5	inc	inc	PROPN
fsr-3891	11	6	.	.	PUNCT
fsr-3891	12	1	all	all	DET
fsr-3891	12	2	rights	right	NOUN
fsr-3891	12	3	reserved	reserve	VERB
fsr-3891	12	4	.	.	PUNCT
fsr-3891	13	1	pii	pii	NOUN
fsr-3891	13	2	:	:	PUNCT
fsr-3891	13	3	s1057	s1057	NOUN
fsr-3891	13	4	-	-	PUNCT
fsr-3891	13	5	0810(00)00042	0810(00)00042	NUM
fsr-3891	13	6	-	-	SYM
fsr-3891	13	7	6	6	NUM
fsr-3891	13	8	1	1	NUM
fsr-3891	13	9	.	.	PUNCT
fsr-3891	13	10	introduction	introduction	NOUN
fsr-3891	13	11	when	when	SCONJ
fsr-3891	13	12	buying	buy	VERB
fsr-3891	13	13	or	or	CCONJ
fsr-3891	13	14	selling	sell	VERB
fsr-3891	13	15	real	real	ADJ
fsr-3891	13	16	estate	estate	NOUN
fsr-3891	13	17	it	it	PRON
fsr-3891	13	18	is	be	AUX
fsr-3891	13	19	common	common	ADJ
fsr-3891	13	20	to	to	PART
fsr-3891	13	21	rely	rely	VERB
fsr-3891	13	22	on	on	ADP
fsr-3891	13	23	the	the	DET
fsr-3891	13	24	services	service	NOUN
fsr-3891	13	25	of	of	ADP
fsr-3891	13	26	a	a	DET
fsr-3891	13	27	residential	residential	ADJ
fsr-3891	13	28	real	real	ADJ
fsr-3891	13	29	estate	estate	NOUN
fsr-3891	13	30	brokerage	brokerage	NOUN
fsr-3891	13	31	firm	firm	NOUN
fsr-3891	13	32	.	.	PUNCT
fsr-3891	14	1	in	in	ADP
fsr-3891	14	2	simplest	simple	ADJ
fsr-3891	14	3	terms	term	NOUN
fsr-3891	14	4	,	,	PUNCT
fsr-3891	14	5	brokerage	brokerage	NOUN
fsr-3891	14	6	firms	firm	NOUN
fsr-3891	14	7	bring	bring	VERB
fsr-3891	14	8	together	together	ADV
fsr-3891	14	9	buyers	buyer	NOUN
fsr-3891	14	10	and	and	CCONJ
fsr-3891	14	11	sellers	seller	NOUN
fsr-3891	14	12	to	to	PART
fsr-3891	14	13	conduct	conduct	VERB
fsr-3891	14	14	real	real	ADJ
fsr-3891	14	15	estate	estate	NOUN
fsr-3891	14	16	transactions	transaction	NOUN
fsr-3891	14	17	in	in	ADP
fsr-3891	14	18	return	return	NOUN
fsr-3891	14	19	for	for	ADP
fsr-3891	14	20	a	a	DET
fsr-3891	14	21	commission	commission	NOUN
fsr-3891	14	22	.	.	PUNCT
fsr-3891	15	1	for	for	ADP
fsr-3891	15	2	the	the	DET
fsr-3891	15	3	individual	individual	ADJ
fsr-3891	15	4	real	real	ADJ
fsr-3891	15	5	estate	estate	NOUN
fsr-3891	15	6	consumer	consumer	NOUN
fsr-3891	15	7	,	,	PUNCT
fsr-3891	15	8	brokerage	brokerage	NOUN
fsr-3891	15	9	firm	firm	NOUN
fsr-3891	15	10	efficiency	efficiency	NOUN
fsr-3891	15	11	is	be	AUX
fsr-3891	15	12	crucial	crucial	ADJ
fsr-3891	15	13	.	.	PUNCT
fsr-3891	16	1	if	if	SCONJ
fsr-3891	16	2	the	the	DET
fsr-3891	16	3	brokerage	brokerage	NOUN
fsr-3891	16	4	industry	industry	NOUN
fsr-3891	16	5	is	be	AUX
fsr-3891	16	6	efficient	efficient	ADJ
fsr-3891	16	7	,	,	PUNCT
fsr-3891	16	8	buyers	buyer	NOUN
fsr-3891	16	9	and	and	CCONJ
fsr-3891	16	10	sellers	seller	NOUN
fsr-3891	16	11	benefit	benefit	VERB
fsr-3891	16	12	from	from	ADP
fsr-3891	16	13	reduced	reduce	VERB
fsr-3891	16	14	search	search	NOUN
fsr-3891	16	15	time	time	NOUN
fsr-3891	16	16	and	and	CCONJ
fsr-3891	16	17	low	low	ADJ
fsr-3891	16	18	transactions	transaction	NOUN
fsr-3891	16	19	costs	cost	NOUN
fsr-3891	16	20	.	.	PUNCT
fsr-3891	17	1	alternatively	alternatively	ADV
fsr-3891	17	2	,	,	PUNCT
fsr-3891	17	3	economic	economic	ADJ
fsr-3891	17	4	theory	theory	NOUN
fsr-3891	17	5	predicts	predict	VERB
fsr-3891	17	6	higher	high	ADJ
fsr-3891	17	7	prices	price	NOUN
fsr-3891	17	8	and	and	CCONJ
fsr-3891	17	9	lower	low	ADJ
fsr-3891	17	10	quality	quality	NOUN
fsr-3891	17	11	of	of	ADP
fsr-3891	17	12	services	service	NOUN
fsr-3891	17	13	in	in	ADP
fsr-3891	17	14	inefficient	inefficient	ADJ
fsr-3891	17	15	markets	market	NOUN
fsr-3891	17	16	.	.	PUNCT
fsr-3891	18	1	regulators	regulator	NOUN
fsr-3891	18	2	,	,	PUNCT
fsr-3891	18	3	policy	policy	NOUN
fsr-3891	18	4	makers	maker	NOUN
fsr-3891	18	5	,	,	PUNCT
fsr-3891	18	6	practitioners	practitioner	NOUN
fsr-3891	18	7	,	,	PUNCT
fsr-3891	18	8	and	and	CCONJ
fsr-3891	18	9	academics	academic	NOUN
fsr-3891	18	10	continue	continue	VERB
fsr-3891	18	11	to	to	PART
fsr-3891	18	12	spend	spend	VERB
fsr-3891	18	13	considerable	considerable	ADJ
fsr-3891	18	14	amounts	amount	NOUN
fsr-3891	18	15	of	of	ADP
fsr-3891	18	16	time	time	NOUN
fsr-3891	18	17	monitoring	monitoring	NOUN
fsr-3891	18	18	and	and	CCONJ
fsr-3891	18	19	analyzing	analyze	VERB
fsr-3891	18	20	this	this	DET
fsr-3891	18	21	industry	industry	NOUN
fsr-3891	18	22	because	because	SCONJ
fsr-3891	18	23	it	it	PRON
fsr-3891	18	24	impacts	impact	VERB
fsr-3891	18	25	so	so	ADV
fsr-3891	18	26	many	many	ADJ
fsr-3891	18	27	people	people	NOUN
fsr-3891	18	28	.	.	PUNCT
fsr-3891	19	1	however	however	ADV
fsr-3891	19	2	,	,	PUNCT
fsr-3891	19	3	evaluating	evaluate	VERB
fsr-3891	19	4	the	the	DET
fsr-3891	19	5	efficiency	efficiency	NOUN
fsr-3891	19	6	of	of	ADP
fsr-3891	19	7	the	the	DET
fsr-3891	19	8	residential	residential	ADJ
fsr-3891	19	9	real	real	ADJ
fsr-3891	19	10	estate	estate	NOUN
fsr-3891	19	11	market	market	NOUN
fsr-3891	19	12	is	be	AUX
fsr-3891	19	13	difficult	difficult	ADJ
fsr-3891	19	14	because	because	SCONJ
fsr-3891	19	15	it	it	PRON
fsr-3891	19	16	is	be	AUX
fsr-3891	19	17	changing	change	VERB
fsr-3891	19	18	and	and	CCONJ
fsr-3891	19	19	evolving	evolve	VERB
fsr-3891	19	20	so	so	ADV
fsr-3891	19	21	rapidly	rapidly	ADV
fsr-3891	19	22	.	.	PUNCT
fsr-3891	20	1	we	we	PRON
fsr-3891	20	2	are	be	AUX
fsr-3891	20	3	seeing	see	VERB
fsr-3891	20	4	mass	mass	NOUN
fsr-3891	20	5	consolidation	consolidation	NOUN
fsr-3891	20	6	,	,	PUNCT
fsr-3891	20	7	leaving	leave	VERB
fsr-3891	20	8	fewer	few	ADJ
fsr-3891	20	9	yet	yet	CCONJ
fsr-3891	20	10	larger	large	ADJ
fsr-3891	20	11	firms	firm	NOUN
fsr-3891	20	12	in	in	ADP
fsr-3891	20	13	the	the	DET
fsr-3891	20	14	industry	industry	NOUN
fsr-3891	20	15	(	(	PUNCT
fsr-3891	20	16	zumpano	zumpano	NOUN
fsr-3891	20	17	,	,	PUNCT
fsr-3891	20	18	elder	elder	NOUN
fsr-3891	20	19	,	,	PUNCT
fsr-3891	20	20	and	and	CCONJ
fsr-3891	20	21	anderson	anderson	PROPN
fsr-3891	20	22	,	,	PUNCT
fsr-3891	20	23	2000	2000	NUM
fsr-3891	20	24	)	)	PUNCT
fsr-3891	20	25	.	.	PUNCT
fsr-3891	21	1	the	the	DET
fsr-3891	21	2	structure	structure	NOUN
fsr-3891	21	3	of	of	ADP
fsr-3891	21	4	brokerage	brokerage	NOUN
fsr-3891	21	5	relationships	relationship	NOUN
fsr-3891	21	6	is	be	AUX
fsr-3891	21	7	also	also	ADV
fsr-3891	21	8	changing	change	VERB
fsr-3891	21	9	.	.	PUNCT
fsr-3891	22	1	traditionally	traditionally	ADV
fsr-3891	22	2	,	,	PUNCT
fsr-3891	22	3	the	the	DET
fsr-3891	22	4	agent	agent	NOUN
fsr-3891	22	5	represented	represent	VERB
fsr-3891	22	6	the	the	DET
fsr-3891	22	7	seller	seller	NOUN
fsr-3891	22	8	in	in	ADP
fsr-3891	22	9	real	real	ADJ
fsr-3891	22	10	estate	estate	NOUN
fsr-3891	22	11	transactions	transaction	NOUN
fsr-3891	22	12	.	.	PUNCT
fsr-3891	23	1	today	today	NOUN
fsr-3891	23	2	,	,	PUNCT
fsr-3891	23	3	other	other	ADJ
fsr-3891	23	4	choices	choice	NOUN
fsr-3891	23	5	such	such	ADJ
fsr-3891	23	6	as	as	ADP
fsr-3891	23	7	a	a	DET
fsr-3891	23	8	buyer	buyer	NOUN
fsr-3891	23	9	’s	’s	PART
fsr-3891	23	10	agent	agent	NOUN
fsr-3891	23	11	(	(	PUNCT
fsr-3891	23	12	regular	regular	ADJ
fsr-3891	23	13	and	and	CCONJ
fsr-3891	23	14	exclusive	exclusive	ADJ
fsr-3891	23	15	)	)	PUNCT
fsr-3891	23	16	and	and	CCONJ
fsr-3891	23	17	a	a	DET
fsr-3891	23	18	disclosed	disclose	VERB
fsr-3891	23	19	dual	dual	ADJ
fsr-3891	23	20	agent	agent	NOUN
fsr-3891	23	21	exist	exist	VERB
fsr-3891	23	22	and	and	CCONJ
fsr-3891	23	23	are	be	AUX
fsr-3891	23	24	growing	grow	VERB
fsr-3891	23	25	in	in	ADP
fsr-3891	23	26	popularity	popularity	NOUN
fsr-3891	23	27	.	.	PUNCT
fsr-3891	24	1	an	an	DET
fsr-3891	24	2	exclusive	exclusive	ADJ
fsr-3891	24	3	buyer	buyer	NOUN
fsr-3891	24	4	’s	’s	PART
fsr-3891	24	5	agent	agent	NOUN
fsr-3891	24	6	works	work	VERB
fsr-3891	24	7	for	for	ADP
fsr-3891	24	8	an	an	DET
fsr-3891	24	9	office	office	NOUN
fsr-3891	24	10	that	that	PRON
fsr-3891	24	11	does	do	AUX
fsr-3891	24	12	not	not	PART
fsr-3891	24	13	take	take	VERB
fsr-3891	24	14	listings	listing	NOUN
fsr-3891	24	15	of	of	ADP
fsr-3891	24	16	any	any	DET
fsr-3891	24	17	kind	kind	NOUN
fsr-3891	24	18	and	and	CCONJ
fsr-3891	24	19	represents	represent	VERB
fsr-3891	24	20	only	only	ADV
fsr-3891	24	21	buyers	buyer	NOUN
fsr-3891	24	22	and	and	CCONJ
fsr-3891	24	23	non	non	ADJ
fsr-3891	24	24	-	-	ADJ
fsr-3891	24	25	agency	agency	ADJ
fsr-3891	24	26	facilitator	facilitator	NOUN
fsr-3891	24	27	arrangements	arrangement	NOUN
fsr-3891	24	28	.	.	PUNCT
fsr-3891	25	1	a	a	DET
fsr-3891	25	2	regular	regular	ADJ
fsr-3891	25	3	buyer	buyer	NOUN
fsr-3891	25	4	’s	’s	PART
fsr-3891	25	5	agent	agent	NOUN
fsr-3891	25	6	works	work	VERB
fsr-3891	25	7	in	in	ADP
fsr-3891	25	8	a	a	DET
fsr-3891	25	9	traditional	traditional	ADJ
fsr-3891	25	10	real	real	ADJ
fsr-3891	25	11	estate	estate	NOUN
fsr-3891	25	12	office	office	NOUN
fsr-3891	25	13	that	that	PRON
fsr-3891	25	14	takes	take	VERB
fsr-3891	25	15	listings	listing	NOUN
fsr-3891	25	16	,	,	PUNCT
fsr-3891	25	17	but	but	CCONJ
fsr-3891	25	18	will	will	AUX
fsr-3891	25	19	work	work	VERB
fsr-3891	25	20	with	with	ADP
fsr-3891	25	21	a	a	DET
fsr-3891	25	22	buyer	buyer	NOUN
fsr-3891	25	23	under	under	ADP
fsr-3891	25	24	contract	contract	NOUN
fsr-3891	25	25	.	.	PUNCT
fsr-3891	26	1	disclosed	disclose	VERB
fsr-3891	26	2	dual	dual	ADJ
fsr-3891	26	3	agents	agent	NOUN
fsr-3891	26	4	represent	represent	VERB
fsr-3891	26	5	both	both	CCONJ
fsr-3891	26	6	the	the	DET
fsr-3891	26	7	buyer	buyer	NOUN
fsr-3891	26	8	and	and	CCONJ
fsr-3891	26	9	the	the	DET
fsr-3891	26	10	seller	seller	NOUN
fsr-3891	26	11	in	in	ADP
fsr-3891	26	12	real	real	ADJ
fsr-3891	26	13	estate	estate	NOUN
fsr-3891	26	14	transactions	transaction	NOUN
fsr-3891	26	15	and	and	CCONJ
fsr-3891	26	16	can	can	AUX
fsr-3891	26	17	arise	arise	VERB
fsr-3891	26	18	in	in	ADP
fsr-3891	26	19	numerous	numerous	ADJ
fsr-3891	26	20	settings	setting	NOUN
fsr-3891	26	21	.	.	PUNCT
fsr-3891	27	1	in	in	ADP
fsr-3891	27	2	addition	addition	NOUN
fsr-3891	27	3	to	to	ADP
fsr-3891	27	4	traditional	traditional	ADJ
fsr-3891	27	5	multiple	multiple	ADJ
fsr-3891	27	6	listing	listing	NOUN
fsr-3891	27	7	service	service	NOUN
fsr-3891	27	8	(	(	PUNCT
fsr-3891	27	9	mls	mls	PROPN
fsr-3891	27	10	)	)	PUNCT
fsr-3891	27	11	use	use	NOUN
fsr-3891	27	12	,	,	PUNCT
fsr-3891	27	13	the	the	DET
fsr-3891	27	14	growth	growth	NOUN
fsr-3891	27	15	in	in	ADP
fsr-3891	27	16	technology	technology	NOUN
fsr-3891	27	17	,	,	PUNCT
fsr-3891	27	18	especially	especially	ADV
fsr-3891	27	19	the	the	DET
fsr-3891	27	20	internet	internet	NOUN
fsr-3891	27	21	,	,	PUNCT
fsr-3891	27	22	is	be	AUX
fsr-3891	27	23	changing	change	VERB
fsr-3891	27	24	the	the	DET
fsr-3891	27	25	way	way	NOUN
fsr-3891	27	26	people	people	NOUN
fsr-3891	27	27	shop	shop	VERB
fsr-3891	27	28	for	for	ADP
fsr-3891	27	29	homes	home	NOUN
fsr-3891	27	30	and	and	CCONJ
fsr-3891	27	31	the	the	DET
fsr-3891	27	32	way	way	NOUN
fsr-3891	27	33	real	real	ADJ
fsr-3891	27	34	estate	estate	NOUN
fsr-3891	27	35	firms	firm	NOUN
fsr-3891	27	36	conduct	conduct	VERB
fsr-3891	27	37	business	business	NOUN
fsr-3891	27	38	.	.	PUNCT
fsr-3891	28	1	these	these	DET
fsr-3891	28	2	changes	change	NOUN
fsr-3891	28	3	are	be	AUX
fsr-3891	28	4	most	most	ADV
fsr-3891	28	5	certainly	certainly	ADV
fsr-3891	28	6	impacting	impact	VERB
fsr-3891	28	7	the	the	DET
fsr-3891	28	8	efficiency	efficiency	NOUN
fsr-3891	28	9	in	in	ADP
fsr-3891	28	10	which	which	PRON
fsr-3891	28	11	the	the	DET
fsr-3891	28	12	market	market	NOUN
fsr-3891	28	13	and	and	CCONJ
fsr-3891	28	14	industry	industry	NOUN
fsr-3891	28	15	operates	operate	VERB
fsr-3891	28	16	(	(	PUNCT
fsr-3891	28	17	anderson	anderson	PROPN
fsr-3891	28	18	,	,	PUNCT
fsr-3891	28	19	fok	fok	PROPN
fsr-3891	28	20	,	,	PUNCT
fsr-3891	28	21	zumpano	zumpano	NOUN
fsr-3891	28	22	,	,	PUNCT
fsr-3891	28	23	and	and	CCONJ
fsr-3891	28	24	elder	elder	NOUN
fsr-3891	28	25	,	,	PUNCT
fsr-3891	28	26	1998	1998	NUM
fsr-3891	28	27	)	)	PUNCT
fsr-3891	28	28	.	.	PUNCT
fsr-3891	29	1	in	in	ADP
fsr-3891	29	2	this	this	DET
fsr-3891	29	3	paper	paper	NOUN
fsr-3891	29	4	,	,	PUNCT
fsr-3891	29	5	we	we	PRON
fsr-3891	29	6	examine	examine	VERB
fsr-3891	29	7	another	another	DET
fsr-3891	29	8	change	change	NOUN
fsr-3891	29	9	in	in	ADP
fsr-3891	29	10	the	the	DET
fsr-3891	29	11	industry	industry	NOUN
fsr-3891	29	12	,	,	PUNCT
fsr-3891	29	13	the	the	DET
fsr-3891	29	14	use	use	NOUN
fsr-3891	29	15	of	of	ADP
fsr-3891	29	16	affinity	affinity	NOUN
fsr-3891	29	17	programs	program	NOUN
fsr-3891	29	18	,	,	PUNCT
fsr-3891	29	19	and	and	CCONJ
fsr-3891	29	20	attempt	attempt	VERB
fsr-3891	29	21	to	to	PART
fsr-3891	29	22	ascertain	ascertain	VERB
fsr-3891	29	23	how	how	SCONJ
fsr-3891	29	24	these	these	DET
fsr-3891	29	25	programs	program	NOUN
fsr-3891	29	26	will	will	AUX
fsr-3891	29	27	alter	alter	VERB
fsr-3891	29	28	the	the	DET
fsr-3891	29	29	competitive	competitive	ADJ
fsr-3891	29	30	structure	structure	NOUN
fsr-3891	29	31	of	of	ADP
fsr-3891	29	32	the	the	DET
fsr-3891	29	33	market	market	NOUN
fsr-3891	29	34	.	.	PUNCT
fsr-3891	30	1	affinity	affinity	NOUN
fsr-3891	30	2	relationships	relationship	NOUN
fsr-3891	30	3	provide	provide	VERB
fsr-3891	30	4	commission	commission	NOUN
fsr-3891	30	5	rebates	rebate	NOUN
fsr-3891	30	6	,	,	PUNCT
fsr-3891	30	7	discounts	discount	NOUN
fsr-3891	30	8	,	,	PUNCT
fsr-3891	30	9	and	and	CCONJ
fsr-3891	30	10	other	other	ADJ
fsr-3891	30	11	goods	good	NOUN
fsr-3891	30	12	and	and	CCONJ
fsr-3891	30	13	services	service	NOUN
fsr-3891	30	14	to	to	ADP
fsr-3891	30	15	individuals	individual	NOUN
fsr-3891	30	16	who	who	PRON
fsr-3891	30	17	are	be	AUX
fsr-3891	30	18	members	member	NOUN
fsr-3891	30	19	of	of	ADP
fsr-3891	30	20	professional	professional	ADJ
fsr-3891	30	21	organizations	organization	NOUN
fsr-3891	30	22	,	,	PUNCT
fsr-3891	30	23	trade	trade	NOUN
fsr-3891	30	24	associations	association	NOUN
fsr-3891	30	25	,	,	PUNCT
fsr-3891	30	26	unions	union	NOUN
fsr-3891	30	27	,	,	PUNCT
fsr-3891	30	28	or	or	CCONJ
fsr-3891	30	29	organizations	organization	NOUN
fsr-3891	30	30	who	who	PRON
fsr-3891	30	31	have	have	VERB
fsr-3891	30	32	an	an	DET
fsr-3891	30	33	agreement	agreement	NOUN
fsr-3891	30	34	with	with	ADP
fsr-3891	30	35	a	a	DET
fsr-3891	30	36	real	real	ADJ
fsr-3891	30	37	estate	estate	NOUN
fsr-3891	30	38	company	company	NOUN
fsr-3891	30	39	.	.	PUNCT
fsr-3891	31	1	the	the	DET
fsr-3891	31	2	increase	increase	NOUN
fsr-3891	31	3	in	in	ADP
fsr-3891	31	4	affinity	affinity	NOUN
fsr-3891	31	5	programs	program	NOUN
fsr-3891	31	6	over	over	ADP
fsr-3891	31	7	the	the	DET
fsr-3891	31	8	past	past	ADJ
fsr-3891	31	9	few	few	ADJ
fsr-3891	31	10	years	year	NOUN
fsr-3891	31	11	and	and	CCONJ
fsr-3891	31	12	the	the	DET
fsr-3891	31	13	related	related	ADJ
fsr-3891	31	14	increase	increase	NOUN
fsr-3891	31	15	in	in	ADP
fsr-3891	31	16	referral	referral	ADJ
fsr-3891	31	17	fees	fee	NOUN
fsr-3891	31	18	are	be	AUX
fsr-3891	31	19	a	a	DET
fsr-3891	31	20	major	major	ADJ
fsr-3891	31	21	concern	concern	NOUN
fsr-3891	31	22	of	of	ADP
fsr-3891	31	23	the	the	DET
fsr-3891	31	24	residential	residential	ADJ
fsr-3891	31	25	real	real	ADJ
fsr-3891	31	26	estate	estate	NOUN
fsr-3891	31	27	brokerage	brokerage	NOUN
fsr-3891	31	28	industry	industry	NOUN
fsr-3891	31	29	(	(	PUNCT
fsr-3891	31	30	nar	nar	NOUN
fsr-3891	31	31	,	,	PUNCT
fsr-3891	31	32	1996	1996	NUM
fsr-3891	31	33	;	;	PUNCT
fsr-3891	31	34	dezube	dezube	NOUN
fsr-3891	31	35	,	,	PUNCT
fsr-3891	31	36	1996	1996	NUM
fsr-3891	31	37	)	)	PUNCT
fsr-3891	31	38	.	.	PUNCT
fsr-3891	32	1	given	give	VERB
fsr-3891	32	2	the	the	DET
fsr-3891	32	3	increased	increase	VERB
fsr-3891	32	4	involvement	involvement	NOUN
fsr-3891	32	5	of	of	ADP
fsr-3891	32	6	the	the	DET
fsr-3891	32	7	residential	residential	ADJ
fsr-3891	32	8	brokerage	brokerage	NOUN
fsr-3891	32	9	industry	industry	NOUN
fsr-3891	32	10	with	with	ADP
fsr-3891	32	11	affinity	affinity	NOUN
fsr-3891	32	12	groups	group	NOUN
fsr-3891	32	13	and	and	CCONJ
fsr-3891	32	14	the	the	DET
fsr-3891	32	15	billions	billion	NOUN
fsr-3891	32	16	of	of	ADP
fsr-3891	32	17	dollars	dollar	NOUN
fsr-3891	32	18	potentiality	potentiality	NOUN
fsr-3891	32	19	at	at	ADP
fsr-3891	32	20	stake	stake	NOUN
fsr-3891	32	21	,	,	PUNCT
fsr-3891	32	22	it	it	PRON
fsr-3891	32	23	is	be	AUX
fsr-3891	32	24	not	not	PART
fsr-3891	32	25	an	an	DET
fsr-3891	32	26	exaggeration	exaggeration	NOUN
fsr-3891	32	27	to	to	PART
fsr-3891	32	28	say	say	VERB
fsr-3891	32	29	that	that	SCONJ
fsr-3891	32	30	the	the	DET
fsr-3891	32	31	affinity	affinity	NOUN
fsr-3891	32	32	program	program	NOUN
fsr-3891	32	33	issue	issue	NOUN
fsr-3891	32	34	may	may	AUX
fsr-3891	32	35	become	become	VERB
fsr-3891	32	36	one	one	NUM
fsr-3891	32	37	of	of	ADP
fsr-3891	32	38	the	the	DET
fsr-3891	32	39	most	most	ADV
fsr-3891	32	40	important	important	ADJ
fsr-3891	32	41	developments	development	NOUN
fsr-3891	32	42	facing	face	VERB
fsr-3891	32	43	this	this	DET
fsr-3891	32	44	industry	industry	NOUN
fsr-3891	32	45	.	.	PUNCT
fsr-3891	33	1	in	in	ADP
fsr-3891	33	2	this	this	DET
fsr-3891	33	3	study	study	NOUN
fsr-3891	33	4	,	,	PUNCT
fsr-3891	33	5	we	we	PRON
fsr-3891	33	6	present	present	VERB
fsr-3891	33	7	the	the	DET
fsr-3891	33	8	first	first	ADJ
fsr-3891	33	9	rigorous	rigorous	ADJ
fsr-3891	33	10	empirical	empirical	ADJ
fsr-3891	33	11	investigation	investigation	NOUN
fsr-3891	33	12	of	of	ADP
fsr-3891	33	13	affinity	affinity	NOUN
fsr-3891	33	14	programs	program	NOUN
fsr-3891	33	15	on	on	ADP
fsr-3891	33	16	firm	firm	ADJ
fsr-3891	33	17	and	and	CCONJ
fsr-3891	33	18	market	market	NOUN
fsr-3891	33	19	efficiency	efficiency	NOUN
fsr-3891	33	20	using	use	VERB
fsr-3891	33	21	detailed	detailed	ADJ
fsr-3891	33	22	financial	financial	ADJ
fsr-3891	33	23	data	datum	NOUN
fsr-3891	33	24	from	from	ADP
fsr-3891	33	25	a	a	DET
fsr-3891	33	26	national	national	ADJ
fsr-3891	33	27	sample	sample	NOUN
fsr-3891	33	28	of	of	ADP
fsr-3891	33	29	residential	residential	ADJ
fsr-3891	33	30	real	real	ADJ
fsr-3891	33	31	estate	estate	NOUN
fsr-3891	33	32	brokerage	brokerage	NOUN
fsr-3891	33	33	firms	firm	NOUN
fsr-3891	33	34	.	.	PUNCT
fsr-3891	34	1	our	our	PRON
fsr-3891	34	2	analysis	analysis	NOUN
fsr-3891	34	3	into	into	ADP
fsr-3891	34	4	the	the	DET
fsr-3891	34	5	affinity	affinity	NOUN
fsr-3891	34	6	question	question	NOUN
fsr-3891	34	7	proceeds	proceed	NOUN
fsr-3891	34	8	with	with	ADP
fsr-3891	34	9	further	further	ADJ
fsr-3891	34	10	discussion	discussion	NOUN
fsr-3891	34	11	on	on	ADP
fsr-3891	34	12	affinity	affinity	NOUN
fsr-3891	34	13	programs	program	NOUN
fsr-3891	34	14	within	within	ADP
fsr-3891	34	15	the	the	DET
fsr-3891	34	16	real	real	ADJ
fsr-3891	34	17	estate	estate	NOUN
fsr-3891	34	18	brokerage	brokerage	NOUN
fsr-3891	34	19	industry	industry	NOUN
fsr-3891	34	20	and	and	CCONJ
fsr-3891	34	21	a	a	DET
fsr-3891	34	22	summary	summary	NOUN
fsr-3891	34	23	of	of	ADP
fsr-3891	34	24	the	the	DET
fsr-3891	34	25	prior	prior	ADJ
fsr-3891	34	26	affinity	affinity	NOUN
fsr-3891	34	27	research	research	NOUN
fsr-3891	34	28	.	.	PUNCT
fsr-3891	35	1	section	section	NOUN
fsr-3891	35	2	3	3	NUM
fsr-3891	35	3	provides	provide	VERB
fsr-3891	35	4	the	the	DET
fsr-3891	35	5	data	datum	NOUN
fsr-3891	35	6	that	that	PRON
fsr-3891	35	7	we	we	PRON
fsr-3891	35	8	use	use	VERB
fsr-3891	35	9	along	along	ADP
fsr-3891	35	10	with	with	ADP
fsr-3891	35	11	an	an	DET
fsr-3891	35	12	analysis	analysis	NOUN
fsr-3891	35	13	of	of	ADP
fsr-3891	35	14	the	the	DET
fsr-3891	35	15	summary	summary	NOUN
fsr-3891	35	16	statistics	statistic	NOUN
fsr-3891	35	17	for	for	ADP
fsr-3891	35	18	affinity	affinity	NOUN
fsr-3891	35	19	and	and	CCONJ
fsr-3891	35	20	non	non	ADJ
fsr-3891	35	21	-	-	ADJ
fsr-3891	35	22	affinity	affinity	ADJ
fsr-3891	35	23	firms	firm	NOUN
fsr-3891	35	24	.	.	PUNCT
fsr-3891	36	1	section	section	NOUN
fsr-3891	36	2	4	4	NUM
fsr-3891	36	3	presents	present	VERB
fsr-3891	36	4	the	the	DET
fsr-3891	36	5	bayesian	bayesian	NOUN
fsr-3891	36	6	stochastic	stochastic	NOUN
fsr-3891	36	7	frontier	frontier	NOUN
fsr-3891	36	8	methodology	methodology	NOUN
fsr-3891	36	9	that	that	PRON
fsr-3891	36	10	we	we	PRON
fsr-3891	36	11	use	use	VERB
fsr-3891	36	12	to	to	PART
fsr-3891	36	13	estimate	estimate	VERB
fsr-3891	36	14	the	the	DET
fsr-3891	36	15	efficiency	efficiency	NOUN
fsr-3891	36	16	levels	level	NOUN
fsr-3891	36	17	by	by	ADP
fsr-3891	36	18	brokerage	brokerage	NOUN
fsr-3891	36	19	type	type	NOUN
fsr-3891	36	20	,	,	PUNCT
fsr-3891	36	21	whereas	whereas	SCONJ
fsr-3891	36	22	section	section	NOUN
fsr-3891	36	23	5	5	NUM
fsr-3891	36	24	presents	present	VERB
fsr-3891	36	25	the	the	DET
fsr-3891	36	26	efficiency	efficiency	NOUN
fsr-3891	36	27	and	and	CCONJ
fsr-3891	36	28	scale	scale	NOUN
fsr-3891	36	29	results	result	NOUN
fsr-3891	36	30	.	.	PUNCT
fsr-3891	37	1	section	section	NOUN
fsr-3891	37	2	6	6	NUM
fsr-3891	37	3	concludes	conclude	VERB
fsr-3891	37	4	.	.	PUNCT
fsr-3891	38	1	184	184	NUM
fsr-3891	38	2	d.	d.	PROPN
fsr-3891	38	3	lewis	lewis	PROPN
fsr-3891	38	4	et	et	PROPN
fsr-3891	38	5	al	al	PROPN
fsr-3891	38	6	.	.	PUNCT
fsr-3891	38	7	/	/	SYM
fsr-3891	38	8	financial	financial	ADJ
fsr-3891	38	9	services	service	NOUN
fsr-3891	38	10	review	review	VERB
fsr-3891	38	11	8	8	NUM
fsr-3891	38	12	(	(	PUNCT
fsr-3891	38	13	1999	1999	NUM
fsr-3891	38	14	)	)	PUNCT
fsr-3891	39	1	183–197	183–197	NUM
fsr-3891	39	2	2	2	NUM
fsr-3891	39	3	.	.	X
fsr-3891	39	4	affinity	affinity	NOUN
fsr-3891	39	5	programs	program	NOUN
fsr-3891	39	6	:	:	PUNCT
fsr-3891	39	7	background	background	NOUN
fsr-3891	39	8	and	and	CCONJ
fsr-3891	39	9	prior	prior	ADJ
fsr-3891	39	10	research	research	NOUN
fsr-3891	39	11	real	real	ADJ
fsr-3891	39	12	estate	estate	NOUN
fsr-3891	39	13	firms	firm	NOUN
fsr-3891	39	14	have	have	AUX
fsr-3891	39	15	been	be	AUX
fsr-3891	39	16	in	in	ADP
fsr-3891	39	17	the	the	DET
fsr-3891	39	18	business	business	NOUN
fsr-3891	39	19	of	of	ADP
fsr-3891	39	20	relocation	relocation	NOUN
fsr-3891	39	21	and	and	CCONJ
fsr-3891	39	22	referral	referral	NOUN
fsr-3891	39	23	-	-	PUNCT
fsr-3891	39	24	related	relate	VERB
fsr-3891	39	25	residential	residential	ADJ
fsr-3891	39	26	sales	sale	NOUN
fsr-3891	39	27	for	for	ADP
fsr-3891	39	28	the	the	DET
fsr-3891	39	29	past	past	ADJ
fsr-3891	39	30	thirty	thirty	NUM
fsr-3891	39	31	years	year	NOUN
fsr-3891	39	32	;	;	PUNCT
fsr-3891	39	33	however	however	ADV
fsr-3891	39	34	,	,	PUNCT
fsr-3891	39	35	it	it	PRON
fsr-3891	39	36	is	be	AUX
fsr-3891	39	37	the	the	DET
fsr-3891	39	38	recent	recent	ADJ
fsr-3891	39	39	increase	increase	NOUN
fsr-3891	39	40	in	in	ADP
fsr-3891	39	41	referral	referral	ADJ
fsr-3891	39	42	fees	fee	NOUN
fsr-3891	39	43	that	that	PRON
fsr-3891	39	44	is	be	AUX
fsr-3891	39	45	of	of	ADP
fsr-3891	39	46	concern	concern	NOUN
fsr-3891	39	47	to	to	ADP
fsr-3891	39	48	the	the	DET
fsr-3891	39	49	residential	residential	ADJ
fsr-3891	39	50	real	real	ADJ
fsr-3891	39	51	estate	estate	NOUN
fsr-3891	39	52	brokerage	brokerage	NOUN
fsr-3891	39	53	industry	industry	NOUN
fsr-3891	39	54	(	(	PUNCT
fsr-3891	39	55	nar	nar	NOUN
fsr-3891	39	56	,	,	PUNCT
fsr-3891	39	57	1996	1996	NUM
fsr-3891	39	58	)	)	PUNCT
fsr-3891	39	59	.	.	PUNCT
fsr-3891	40	1	thirty	thirty	NUM
fsr-3891	40	2	years	year	NOUN
fsr-3891	40	3	ago	ago	ADV
fsr-3891	40	4	the	the	DET
fsr-3891	40	5	use	use	NOUN
fsr-3891	40	6	of	of	ADP
fsr-3891	40	7	referral	referral	ADJ
fsr-3891	40	8	fees	fee	NOUN
fsr-3891	40	9	was	be	AUX
fsr-3891	40	10	initiated	initiate	VERB
fsr-3891	40	11	by	by	ADP
fsr-3891	40	12	brokers	broker	NOUN
fsr-3891	40	13	who	who	PRON
fsr-3891	40	14	desired	desire	VERB
fsr-3891	40	15	to	to	PART
fsr-3891	40	16	both	both	PRON
fsr-3891	40	17	send	send	VERB
fsr-3891	40	18	and	and	CCONJ
fsr-3891	40	19	receive	receive	VERB
fsr-3891	40	20	prospective	prospective	ADJ
fsr-3891	40	21	customers	customer	NOUN
fsr-3891	40	22	.	.	PUNCT
fsr-3891	41	1	for	for	ADP
fsr-3891	41	2	those	those	DET
fsr-3891	41	3	brokers	broker	NOUN
fsr-3891	41	4	who	who	PRON
fsr-3891	41	5	received	receive	VERB
fsr-3891	41	6	the	the	DET
fsr-3891	41	7	prospective	prospective	ADJ
fsr-3891	41	8	customer	customer	NOUN
fsr-3891	41	9	,	,	PUNCT
fsr-3891	41	10	the	the	DET
fsr-3891	41	11	referral	referral	ADJ
fsr-3891	41	12	fee	fee	NOUN
fsr-3891	41	13	was	be	AUX
fsr-3891	41	14	considered	consider	VERB
fsr-3891	41	15	a	a	DET
fsr-3891	41	16	marketing	marketing	NOUN
fsr-3891	41	17	cost	cost	NOUN
fsr-3891	41	18	.	.	PUNCT
fsr-3891	42	1	in	in	ADP
fsr-3891	42	2	fact	fact	NOUN
fsr-3891	42	3	,	,	PUNCT
fsr-3891	42	4	ball	ball	NOUN
fsr-3891	42	5	(	(	PUNCT
fsr-3891	42	6	1990	1990	NUM
fsr-3891	42	7	)	)	PUNCT
fsr-3891	42	8	discusses	discuss	VERB
fsr-3891	42	9	the	the	DET
fsr-3891	42	10	need	need	NOUN
fsr-3891	42	11	to	to	PART
fsr-3891	42	12	make	make	VERB
fsr-3891	42	13	the	the	DET
fsr-3891	42	14	most	most	ADJ
fsr-3891	42	15	of	of	ADP
fsr-3891	42	16	your	your	PRON
fsr-3891	42	17	referral	referral	ADJ
fsr-3891	42	18	network	network	NOUN
fsr-3891	42	19	and	and	CCONJ
fsr-3891	42	20	business	business	NOUN
fsr-3891	42	21	.	.	PUNCT
fsr-3891	43	1	at	at	ADP
fsr-3891	43	2	the	the	DET
fsr-3891	43	3	time	time	NOUN
fsr-3891	43	4	referral	referral	NOUN
fsr-3891	43	5	fees	fee	NOUN
fsr-3891	43	6	came	come	VERB
fsr-3891	43	7	into	into	ADP
fsr-3891	43	8	practice	practice	NOUN
fsr-3891	43	9	,	,	PUNCT
fsr-3891	43	10	it	it	PRON
fsr-3891	43	11	was	be	AUX
fsr-3891	43	12	rare	rare	ADJ
fsr-3891	43	13	for	for	SCONJ
fsr-3891	43	14	transferees	transferee	NOUN
fsr-3891	43	15	to	to	PART
fsr-3891	43	16	receive	receive	VERB
fsr-3891	43	17	assistance	assistance	NOUN
fsr-3891	43	18	from	from	ADP
fsr-3891	43	19	their	their	PRON
fsr-3891	43	20	employer	employer	NOUN
fsr-3891	43	21	in	in	ADP
fsr-3891	43	22	purchasing	purchase	VERB
fsr-3891	43	23	a	a	DET
fsr-3891	43	24	new	new	ADJ
fsr-3891	43	25	home	home	NOUN
fsr-3891	43	26	or	or	CCONJ
fsr-3891	43	27	selling	sell	VERB
fsr-3891	43	28	their	their	PRON
fsr-3891	43	29	existing	exist	VERB
fsr-3891	43	30	residence	residence	NOUN
fsr-3891	43	31	.	.	PUNCT
fsr-3891	44	1	during	during	ADP
fsr-3891	44	2	the	the	DET
fsr-3891	44	3	recession	recession	NOUN
fsr-3891	44	4	of	of	ADP
fsr-3891	44	5	1981	1981	NUM
fsr-3891	44	6	through	through	ADP
fsr-3891	44	7	1983	1983	NUM
fsr-3891	44	8	,	,	PUNCT
fsr-3891	44	9	corporations	corporation	NOUN
fsr-3891	44	10	began	begin	VERB
fsr-3891	44	11	offering	offer	VERB
fsr-3891	44	12	better	well	ADJ
fsr-3891	44	13	relocation	relocation	NOUN
fsr-3891	44	14	benefits	benefit	NOUN
fsr-3891	44	15	to	to	ADP
fsr-3891	44	16	their	their	PRON
fsr-3891	44	17	employees	employee	NOUN
fsr-3891	44	18	.	.	PUNCT
fsr-3891	45	1	also	also	ADV
fsr-3891	45	2	during	during	ADP
fsr-3891	45	3	this	this	DET
fsr-3891	45	4	time	time	NOUN
fsr-3891	45	5	,	,	PUNCT
fsr-3891	45	6	the	the	DET
fsr-3891	45	7	use	use	NOUN
fsr-3891	45	8	of	of	ADP
fsr-3891	45	9	referral	referral	ADJ
fsr-3891	45	10	networks	network	NOUN
fsr-3891	45	11	extended	extend	VERB
fsr-3891	45	12	beyond	beyond	ADP
fsr-3891	45	13	independently	independently	ADV
fsr-3891	45	14	owned	own	VERB
fsr-3891	45	15	,	,	PUNCT
fsr-3891	45	16	non	non	ADJ
fsr-3891	45	17	-	-	ADJ
fsr-3891	45	18	franchised	franchised	ADJ
fsr-3891	45	19	firms	firm	NOUN
fsr-3891	45	20	as	as	SCONJ
fsr-3891	45	21	referral	referral	ADJ
fsr-3891	45	22	networks	network	NOUN
fsr-3891	45	23	were	be	AUX
fsr-3891	45	24	also	also	ADV
fsr-3891	45	25	established	establish	VERB
fsr-3891	45	26	among	among	ADP
fsr-3891	45	27	franchise	franchise	NOUN
fsr-3891	45	28	firms	firm	NOUN
fsr-3891	45	29	(	(	PUNCT
fsr-3891	45	30	nar	nar	NOUN
fsr-3891	45	31	,	,	PUNCT
fsr-3891	45	32	1996	1996	NUM
fsr-3891	45	33	)	)	PUNCT
fsr-3891	45	34	.	.	PUNCT
fsr-3891	46	1	the	the	DET
fsr-3891	46	2	use	use	NOUN
fsr-3891	46	3	of	of	ADP
fsr-3891	46	4	referral	referral	ADJ
fsr-3891	46	5	fees	fee	NOUN
fsr-3891	46	6	has	have	AUX
fsr-3891	46	7	continued	continue	VERB
fsr-3891	46	8	to	to	PART
fsr-3891	46	9	evolve	evolve	VERB
fsr-3891	46	10	.	.	PUNCT
fsr-3891	47	1	now	now	ADV
fsr-3891	47	2	,	,	PUNCT
fsr-3891	47	3	many	many	ADJ
fsr-3891	47	4	corporations	corporation	NOUN
fsr-3891	47	5	and	and	CCONJ
fsr-3891	47	6	relocation	relocation	NOUN
fsr-3891	47	7	management	management	NOUN
fsr-3891	47	8	companies	company	NOUN
fsr-3891	47	9	demand	demand	VERB
fsr-3891	47	10	such	such	ADJ
fsr-3891	47	11	fees	fee	NOUN
fsr-3891	47	12	.	.	PUNCT
fsr-3891	48	1	in	in	ADP
fsr-3891	48	2	the	the	DET
fsr-3891	48	3	past	past	ADJ
fsr-3891	48	4	few	few	ADJ
fsr-3891	48	5	years	year	NOUN
fsr-3891	48	6	,	,	PUNCT
fsr-3891	48	7	corporations	corporation	NOUN
fsr-3891	48	8	have	have	AUX
fsr-3891	48	9	begun	begin	VERB
fsr-3891	48	10	charging	charge	VERB
fsr-3891	48	11	referral	referral	ADJ
fsr-3891	48	12	fees	fee	NOUN
fsr-3891	48	13	as	as	ADP
fsr-3891	48	14	a	a	DET
fsr-3891	48	15	means	means	NOUN
fsr-3891	48	16	to	to	PART
fsr-3891	48	17	reduce	reduce	VERB
fsr-3891	48	18	the	the	DET
fsr-3891	48	19	skyrocketing	skyrocket	VERB
fsr-3891	48	20	expenses	expense	NOUN
fsr-3891	48	21	associated	associate	VERB
fsr-3891	48	22	with	with	ADP
fsr-3891	48	23	relocation	relocation	NOUN
fsr-3891	48	24	.	.	PUNCT
fsr-3891	49	1	also	also	ADV
fsr-3891	49	2	aware	aware	ADJ
fsr-3891	49	3	of	of	ADP
fsr-3891	49	4	rising	rise	VERB
fsr-3891	49	5	relocation	relocation	NOUN
fsr-3891	49	6	costs	cost	NOUN
fsr-3891	49	7	,	,	PUNCT
fsr-3891	49	8	relocation	relocation	NOUN
fsr-3891	49	9	management	management	NOUN
fsr-3891	49	10	companies	company	NOUN
fsr-3891	49	11	have	have	AUX
fsr-3891	49	12	begun	begin	VERB
fsr-3891	49	13	to	to	PART
fsr-3891	49	14	charge	charge	VERB
fsr-3891	49	15	referral	referral	ADJ
fsr-3891	49	16	fees	fee	NOUN
fsr-3891	49	17	in	in	ADP
fsr-3891	49	18	an	an	DET
fsr-3891	49	19	effort	effort	NOUN
fsr-3891	49	20	to	to	PART
fsr-3891	49	21	maintain	maintain	VERB
fsr-3891	49	22	or	or	CCONJ
fsr-3891	49	23	improve	improve	VERB
fsr-3891	49	24	their	their	PRON
fsr-3891	49	25	profits	profit	NOUN
fsr-3891	49	26	.	.	PUNCT
fsr-3891	50	1	affinity	affinity	NOUN
fsr-3891	50	2	relationships	relationship	NOUN
fsr-3891	50	3	grew	grow	VERB
fsr-3891	50	4	out	out	ADP
fsr-3891	50	5	of	of	ADP
fsr-3891	50	6	these	these	DET
fsr-3891	50	7	relocation	relocation	NOUN
fsr-3891	50	8	and	and	CCONJ
fsr-3891	50	9	referral	referral	ADJ
fsr-3891	50	10	networks	network	NOUN
fsr-3891	50	11	.	.	PUNCT
fsr-3891	51	1	affinity	affinity	NOUN
fsr-3891	51	2	groups	group	NOUN
fsr-3891	51	3	are	be	AUX
fsr-3891	51	4	relatively	relatively	ADV
fsr-3891	51	5	new	new	ADJ
fsr-3891	51	6	players	player	NOUN
fsr-3891	51	7	in	in	ADP
fsr-3891	51	8	the	the	DET
fsr-3891	51	9	real	real	ADJ
fsr-3891	51	10	estate	estate	NOUN
fsr-3891	51	11	industry	industry	NOUN
fsr-3891	51	12	.	.	PUNCT
fsr-3891	52	1	in	in	ADP
fsr-3891	52	2	1995	1995	NUM
fsr-3891	52	3	,	,	PUNCT
fsr-3891	52	4	at	at	ADP
fsr-3891	52	5	the	the	DET
fsr-3891	52	6	business	business	NOUN
fsr-3891	52	7	issues	issue	NOUN
fsr-3891	52	8	committee	committee	PROPN
fsr-3891	52	9	of	of	ADP
fsr-3891	52	10	the	the	DET
fsr-3891	52	11	national	national	PROPN
fsr-3891	52	12	association	association	NOUN
fsr-3891	52	13	of	of	ADP
fsr-3891	52	14	realtors	realtors	PROPN
fsr-3891	52	15	©	©	PROPN
fsr-3891	52	16	(	(	PUNCT
fsr-3891	52	17	nar	nar	NOUN
fsr-3891	52	18	)	)	PUNCT
fsr-3891	52	19	,	,	PUNCT
fsr-3891	52	20	a	a	DET
fsr-3891	52	21	working	work	VERB
fsr-3891	52	22	group	group	NOUN
fsr-3891	52	23	was	be	AUX
fsr-3891	52	24	established	establish	VERB
fsr-3891	52	25	to	to	PART
fsr-3891	52	26	examine	examine	VERB
fsr-3891	52	27	industry	industry	NOUN
fsr-3891	52	28	practices	practice	NOUN
fsr-3891	52	29	with	with	ADP
fsr-3891	52	30	respect	respect	NOUN
fsr-3891	52	31	to	to	ADP
fsr-3891	52	32	affinity	affinity	NOUN
fsr-3891	52	33	relationships	relationship	NOUN
fsr-3891	52	34	.	.	PUNCT
fsr-3891	53	1	(	(	PUNCT
fsr-3891	53	2	nar	nar	NOUN
fsr-3891	53	3	,	,	PUNCT
fsr-3891	53	4	1996	1996	NUM
fsr-3891	53	5	)	)	PUNCT
fsr-3891	53	6	.	.	PUNCT
fsr-3891	54	1	companies	company	NOUN
fsr-3891	54	2	that	that	PRON
fsr-3891	54	3	have	have	AUX
fsr-3891	54	4	established	establish	VERB
fsr-3891	54	5	affinity	affinity	NOUN
fsr-3891	54	6	relationships	relationship	NOUN
fsr-3891	54	7	for	for	ADP
fsr-3891	54	8	their	their	PRON
fsr-3891	54	9	employees	employee	NOUN
fsr-3891	54	10	include	include	VERB
fsr-3891	54	11	the	the	DET
fsr-3891	54	12	following	following	NOUN
fsr-3891	54	13	:	:	PUNCT
fsr-3891	54	14	united	united	PROPN
fsr-3891	54	15	air	air	PROPN
fsr-3891	54	16	lines	line	NOUN
fsr-3891	54	17	,	,	PUNCT
fsr-3891	54	18	sears	sears	PROPN
fsr-3891	54	19	,	,	PUNCT
fsr-3891	54	20	roebuck	roebuck	PROPN
fsr-3891	54	21	and	and	CCONJ
fsr-3891	54	22	company	company	NOUN
fsr-3891	54	23	,	,	PUNCT
fsr-3891	54	24	united	united	PROPN
fsr-3891	54	25	parcel	parcel	PROPN
fsr-3891	54	26	services	services	PROPN
fsr-3891	54	27	,	,	PUNCT
fsr-3891	54	28	and	and	CCONJ
fsr-3891	54	29	the	the	DET
fsr-3891	54	30	prudential	prudential	PROPN
fsr-3891	54	31	insurance	insurance	PROPN
fsr-3891	54	32	co.	co.	PROPN
fsr-3891	54	33	of	of	ADP
fsr-3891	54	34	america	america	PROPN
fsr-3891	54	35	.	.	PUNCT
fsr-3891	55	1	among	among	ADP
fsr-3891	55	2	the	the	DET
fsr-3891	55	3	real	real	ADJ
fsr-3891	55	4	estate	estate	NOUN
fsr-3891	55	5	firms	firm	NOUN
fsr-3891	55	6	involved	involve	VERB
fsr-3891	55	7	in	in	ADP
fsr-3891	55	8	such	such	ADJ
fsr-3891	55	9	partnerships	partnership	NOUN
fsr-3891	55	10	are	be	AUX
fsr-3891	55	11	century	century	NOUN
fsr-3891	55	12	21	21	NUM
fsr-3891	55	13	,	,	PUNCT
fsr-3891	55	14	prudential	prudential	NOUN
fsr-3891	55	15	,	,	PUNCT
fsr-3891	55	16	and	and	CCONJ
fsr-3891	55	17	coldwell	coldwell	PROPN
fsr-3891	55	18	banker	banker	NOUN
fsr-3891	55	19	.	.	PUNCT
fsr-3891	56	1	the	the	DET
fsr-3891	56	2	structure	structure	NOUN
fsr-3891	56	3	of	of	ADP
fsr-3891	56	4	affinity	affinity	NOUN
fsr-3891	56	5	benefits	benefit	NOUN
fsr-3891	56	6	has	have	AUX
fsr-3891	56	7	varied	vary	VERB
fsr-3891	56	8	according	accord	VERB
fsr-3891	56	9	to	to	ADP
fsr-3891	56	10	the	the	DET
fsr-3891	56	11	structure	structure	NOUN
fsr-3891	56	12	of	of	ADP
fsr-3891	56	13	each	each	DET
fsr-3891	56	14	affinity	affinity	NOUN
fsr-3891	56	15	program	program	NOUN
fsr-3891	56	16	and	and	CCONJ
fsr-3891	56	17	according	accord	VERB
fsr-3891	56	18	to	to	ADP
fsr-3891	56	19	state	state	NOUN
fsr-3891	56	20	law	law	NOUN
fsr-3891	56	21	.	.	PUNCT
fsr-3891	57	1	2.1	2.1	NUM
fsr-3891	57	2	.	.	PUNCT
fsr-3891	57	3	potential	potential	ADJ
fsr-3891	57	4	benefits	benefit	NOUN
fsr-3891	57	5	of	of	ADP
fsr-3891	57	6	affinity	affinity	NOUN
fsr-3891	57	7	participation	participation	NOUN
fsr-3891	57	8	advocates	advocate	NOUN
fsr-3891	57	9	of	of	ADP
fsr-3891	57	10	affinity	affinity	NOUN
fsr-3891	57	11	programs	program	NOUN
fsr-3891	57	12	argue	argue	VERB
fsr-3891	57	13	that	that	SCONJ
fsr-3891	57	14	both	both	PRON
fsr-3891	57	15	consumers	consumer	NOUN
fsr-3891	57	16	and	and	CCONJ
fsr-3891	57	17	brokers	broker	NOUN
fsr-3891	57	18	benefit	benefit	VERB
fsr-3891	57	19	.	.	PUNCT
fsr-3891	58	1	consumers	consumer	NOUN
fsr-3891	58	2	benefit	benefit	VERB
fsr-3891	58	3	from	from	ADP
fsr-3891	58	4	reduced	reduce	VERB
fsr-3891	58	5	brokerage	brokerage	NOUN
fsr-3891	58	6	commission	commission	NOUN
fsr-3891	58	7	fees	fee	NOUN
fsr-3891	58	8	,	,	PUNCT
fsr-3891	58	9	and	and	CCONJ
fsr-3891	58	10	the	the	DET
fsr-3891	58	11	cost	cost	NOUN
fsr-3891	58	12	savings	saving	NOUN
fsr-3891	58	13	on	on	ADP
fsr-3891	58	14	ancillary	ancillary	ADJ
fsr-3891	58	15	services	service	NOUN
fsr-3891	58	16	associated	associate	VERB
fsr-3891	58	17	with	with	ADP
fsr-3891	58	18	loan	loan	NOUN
fsr-3891	58	19	and	and	CCONJ
fsr-3891	58	20	property	property	NOUN
fsr-3891	58	21	closings	closing	NOUN
fsr-3891	58	22	whereas	whereas	SCONJ
fsr-3891	58	23	brokers	broker	NOUN
fsr-3891	58	24	reap	reap	VERB
fsr-3891	58	25	more	more	ADJ
fsr-3891	58	26	business	business	NOUN
fsr-3891	58	27	from	from	ADP
fsr-3891	58	28	affinity	affinity	NOUN
fsr-3891	58	29	referrals	referral	NOUN
fsr-3891	58	30	.	.	PUNCT
fsr-3891	59	1	economic	economic	ADJ
fsr-3891	59	2	theory	theory	NOUN
fsr-3891	59	3	suggests	suggest	VERB
fsr-3891	59	4	that	that	SCONJ
fsr-3891	59	5	bundling	bundle	VERB
fsr-3891	59	6	real	real	ADJ
fsr-3891	59	7	estate	estate	NOUN
fsr-3891	59	8	services	service	NOUN
fsr-3891	59	9	,	,	PUNCT
fsr-3891	59	10	as	as	SCONJ
fsr-3891	59	11	could	could	AUX
fsr-3891	59	12	be	be	AUX
fsr-3891	59	13	the	the	DET
fsr-3891	59	14	case	case	NOUN
fsr-3891	59	15	with	with	ADP
fsr-3891	59	16	one	one	NUM
fsr-3891	59	17	-	-	PUNCT
fsr-3891	59	18	stop	stop	NOUN
fsr-3891	59	19	shopping	shopping	NOUN
fsr-3891	59	20	arrangements	arrangement	NOUN
fsr-3891	59	21	,	,	PUNCT
fsr-3891	59	22	can	can	AUX
fsr-3891	59	23	result	result	VERB
fsr-3891	59	24	in	in	ADP
fsr-3891	59	25	significant	significant	ADJ
fsr-3891	59	26	cost	cost	NOUN
fsr-3891	59	27	savings	saving	NOUN
fsr-3891	59	28	to	to	ADP
fsr-3891	59	29	consumers	consumer	NOUN
fsr-3891	59	30	from	from	ADP
fsr-3891	59	31	reduced	reduce	VERB
fsr-3891	59	32	search	search	NOUN
fsr-3891	59	33	costs	cost	NOUN
fsr-3891	59	34	and	and	CCONJ
fsr-3891	59	35	economies	economy	NOUN
fsr-3891	59	36	of	of	ADP
fsr-3891	59	37	scale	scale	NOUN
fsr-3891	59	38	in	in	ADP
fsr-3891	59	39	the	the	DET
fsr-3891	59	40	provision	provision	NOUN
fsr-3891	59	41	of	of	ADP
fsr-3891	59	42	bundled	bundled	ADJ
fsr-3891	59	43	services	service	NOUN
fsr-3891	59	44	.	.	PUNCT
fsr-3891	60	1	reich	reich	PROPN
fsr-3891	60	2	–	–	PUNCT
fsr-3891	60	3	hale	hale	PROPN
fsr-3891	60	4	(	(	PUNCT
fsr-3891	60	5	1999	1999	NUM
fsr-3891	60	6	)	)	PUNCT
fsr-3891	60	7	show	show	VERB
fsr-3891	60	8	how	how	SCONJ
fsr-3891	60	9	this	this	DET
fsr-3891	60	10	type	type	NOUN
fsr-3891	60	11	of	of	ADP
fsr-3891	60	12	bundling	bundling	NOUN
fsr-3891	60	13	of	of	ADP
fsr-3891	60	14	goods	good	NOUN
fsr-3891	60	15	and	and	CCONJ
fsr-3891	60	16	products	product	NOUN
fsr-3891	60	17	can	can	AUX
fsr-3891	60	18	be	be	AUX
fsr-3891	60	19	beneficial	beneficial	ADJ
fsr-3891	60	20	in	in	ADP
fsr-3891	60	21	the	the	DET
fsr-3891	60	22	insurance	insurance	NOUN
fsr-3891	60	23	industry	industry	NOUN
fsr-3891	60	24	.	.	PUNCT
fsr-3891	61	1	supporters	supporter	NOUN
fsr-3891	61	2	of	of	ADP
fsr-3891	61	3	such	such	ADJ
fsr-3891	61	4	programs	program	NOUN
fsr-3891	61	5	also	also	ADV
fsr-3891	61	6	contend	contend	VERB
fsr-3891	61	7	that	that	SCONJ
fsr-3891	61	8	they	they	PRON
fsr-3891	61	9	will	will	AUX
fsr-3891	61	10	tend	tend	VERB
fsr-3891	61	11	to	to	PART
fsr-3891	61	12	reduce	reduce	VERB
fsr-3891	61	13	real	real	ADJ
fsr-3891	61	14	estate	estate	NOUN
fsr-3891	61	15	commissions	commission	NOUN
fsr-3891	61	16	for	for	ADP
fsr-3891	61	17	all	all	DET
fsr-3891	61	18	consumers	consumer	NOUN
fsr-3891	61	19	,	,	PUNCT
fsr-3891	61	20	whether	whether	SCONJ
fsr-3891	61	21	or	or	CCONJ
fsr-3891	61	22	not	not	PART
fsr-3891	61	23	they	they	PRON
fsr-3891	61	24	are	be	AUX
fsr-3891	61	25	members	member	NOUN
fsr-3891	61	26	of	of	ADP
fsr-3891	61	27	affinity	affinity	NOUN
fsr-3891	61	28	groups	group	NOUN
fsr-3891	61	29	,	,	PUNCT
fsr-3891	61	30	by	by	ADP
fsr-3891	61	31	increasing	increase	VERB
fsr-3891	61	32	overall	overall	ADJ
fsr-3891	61	33	price	price	NOUN
fsr-3891	61	34	competition	competition	NOUN
fsr-3891	61	35	within	within	ADP
fsr-3891	61	36	the	the	DET
fsr-3891	61	37	industry	industry	NOUN
fsr-3891	61	38	.	.	PUNCT
fsr-3891	62	1	advocates	advocate	NOUN
fsr-3891	62	2	claim	claim	VERB
fsr-3891	62	3	that	that	SCONJ
fsr-3891	62	4	small	small	ADJ
fsr-3891	62	5	firms	firm	NOUN
fsr-3891	62	6	should	should	AUX
fsr-3891	62	7	benefit	benefit	VERB
fsr-3891	62	8	more	more	ADJ
fsr-3891	62	9	than	than	ADP
fsr-3891	62	10	larger	large	ADJ
fsr-3891	62	11	firms	firm	NOUN
fsr-3891	62	12	should	should	AUX
fsr-3891	62	13	from	from	ADP
fsr-3891	62	14	the	the	DET
fsr-3891	62	15	affinity	affinity	NOUN
fsr-3891	62	16	groups	group	NOUN
fsr-3891	62	17	because	because	SCONJ
fsr-3891	62	18	larger	large	ADJ
fsr-3891	62	19	firms	firm	NOUN
fsr-3891	62	20	can	can	AUX
fsr-3891	62	21	often	often	ADV
fsr-3891	62	22	185d	185d	NOUN
fsr-3891	62	23	.	.	PUNCT
fsr-3891	63	1	lewis	lewis	PROPN
fsr-3891	63	2	et	et	PROPN
fsr-3891	63	3	al	al	PROPN
fsr-3891	63	4	.	.	PUNCT
fsr-3891	63	5	/	/	SYM
fsr-3891	63	6	financial	financial	ADJ
fsr-3891	63	7	services	service	NOUN
fsr-3891	63	8	review	review	VERB
fsr-3891	63	9	8	8	NUM
fsr-3891	63	10	(	(	PUNCT
fsr-3891	63	11	1999	1999	NUM
fsr-3891	63	12	)	)	PUNCT
fsr-3891	63	13	183–197	183–197	NUM
fsr-3891	63	14	provide	provide	VERB
fsr-3891	63	15	ancillary	ancillary	ADJ
fsr-3891	63	16	services	service	NOUN
fsr-3891	63	17	to	to	ADP
fsr-3891	63	18	consumers	consumer	NOUN
fsr-3891	63	19	cost	cost	VERB
fsr-3891	63	20	effectively	effectively	ADV
fsr-3891	63	21	in	in	ADP
fsr-3891	63	22	-	-	PUNCT
fsr-3891	63	23	house	house	NOUN
fsr-3891	63	24	.	.	PUNCT
fsr-3891	64	1	small	small	ADJ
fsr-3891	64	2	real	real	ADJ
fsr-3891	64	3	estate	estate	NOUN
fsr-3891	64	4	firms	firm	NOUN
fsr-3891	64	5	that	that	PRON
fsr-3891	64	6	could	could	AUX
fsr-3891	64	7	not	not	PART
fsr-3891	64	8	otherwise	otherwise	ADV
fsr-3891	64	9	provide	provide	VERB
fsr-3891	64	10	competitive	competitive	ADJ
fsr-3891	64	11	services	service	NOUN
fsr-3891	64	12	to	to	ADP
fsr-3891	64	13	their	their	PRON
fsr-3891	64	14	customers	customer	NOUN
fsr-3891	64	15	can	can	AUX
fsr-3891	64	16	now	now	ADV
fsr-3891	64	17	do	do	VERB
fsr-3891	64	18	so	so	ADV
fsr-3891	64	19	by	by	ADP
fsr-3891	64	20	joining	join	VERB
fsr-3891	64	21	with	with	ADP
fsr-3891	64	22	an	an	DET
fsr-3891	64	23	affinity	affinity	NOUN
fsr-3891	64	24	organization	organization	NOUN
fsr-3891	64	25	.	.	PUNCT
fsr-3891	65	1	cendant	cendant	PROPN
fsr-3891	65	2	mobility	mobility	PROPN
fsr-3891	65	3	,	,	PUNCT
fsr-3891	65	4	the	the	DET
fsr-3891	65	5	largest	large	ADJ
fsr-3891	65	6	of	of	ADP
fsr-3891	65	7	the	the	DET
fsr-3891	65	8	affinity	affinity	NOUN
fsr-3891	65	9	organizations	organization	NOUN
fsr-3891	65	10	estimates	estimate	VERB
fsr-3891	65	11	that	that	SCONJ
fsr-3891	65	12	their	their	PRON
fsr-3891	65	13	company	company	NOUN
fsr-3891	65	14	has	have	AUX
fsr-3891	65	15	paid	pay	VERB
fsr-3891	65	16	out	out	ADP
fsr-3891	65	17	more	more	ADJ
fsr-3891	65	18	than	than	ADP
fsr-3891	65	19	$	$	SYM
fsr-3891	65	20	20	20	NUM
fsr-3891	65	21	million	million	NUM
fsr-3891	65	22	in	in	ADP
fsr-3891	65	23	rebates	rebate	NOUN
fsr-3891	65	24	to	to	ADP
fsr-3891	65	25	more	more	ADJ
fsr-3891	65	26	than	than	ADP
fsr-3891	65	27	40,000	40,000	NUM
fsr-3891	65	28	customers	customer	NOUN
fsr-3891	65	29	since	since	SCONJ
fsr-3891	65	30	1990	1990	NUM
fsr-3891	65	31	(	(	PUNCT
fsr-3891	65	32	agency	agency	NOUN
fsr-3891	65	33	law	law	NOUN
fsr-3891	65	34	quarterly	quarterly	ADV
fsr-3891	65	35	,	,	PUNCT
fsr-3891	65	36	1998	1998	NUM
fsr-3891	65	37	)	)	PUNCT
fsr-3891	65	38	.	.	PUNCT
fsr-3891	66	1	2.2	2.2	NUM
fsr-3891	66	2	.	.	PUNCT
fsr-3891	66	3	possible	possible	ADJ
fsr-3891	66	4	limitations	limitation	NOUN
fsr-3891	66	5	of	of	ADP
fsr-3891	66	6	affinity	affinity	NOUN
fsr-3891	66	7	participation	participation	NOUN
fsr-3891	66	8	opponents	opponent	NOUN
fsr-3891	66	9	of	of	ADP
fsr-3891	66	10	such	such	ADJ
fsr-3891	66	11	programs	program	NOUN
fsr-3891	66	12	counter	counter	VERB
fsr-3891	66	13	that	that	SCONJ
fsr-3891	66	14	these	these	DET
fsr-3891	66	15	programs	program	NOUN
fsr-3891	66	16	may	may	AUX
fsr-3891	66	17	violate	violate	VERB
fsr-3891	66	18	the	the	DET
fsr-3891	66	19	real	real	ADJ
fsr-3891	66	20	estate	estate	NOUN
fsr-3891	66	21	settlement	settlement	NOUN
fsr-3891	66	22	procedures	procedure	NOUN
fsr-3891	66	23	act	act	PROPN
fsr-3891	66	24	’s	’s	PART
fsr-3891	66	25	(	(	PUNCT
fsr-3891	66	26	respa	respa	PROPN
fsr-3891	66	27	’s	’s	PART
fsr-3891	66	28	)	)	PUNCT
fsr-3891	66	29	prohibition	prohibition	NOUN
fsr-3891	66	30	against	against	ADP
fsr-3891	66	31	rebates	rebate	NOUN
fsr-3891	66	32	,	,	PUNCT
fsr-3891	66	33	result	result	VERB
fsr-3891	66	34	in	in	ADP
fsr-3891	66	35	double	double	ADJ
fsr-3891	66	36	referral	referral	NOUN
fsr-3891	66	37	fees	fee	NOUN
fsr-3891	66	38	,	,	PUNCT
fsr-3891	66	39	and	and	CCONJ
fsr-3891	66	40	could	could	AUX
fsr-3891	66	41	raise	raise	VERB
fsr-3891	66	42	the	the	DET
fsr-3891	66	43	cost	cost	NOUN
fsr-3891	66	44	of	of	ADP
fsr-3891	66	45	doing	do	VERB
fsr-3891	66	46	business	business	NOUN
fsr-3891	66	47	for	for	ADP
fsr-3891	66	48	real	real	ADJ
fsr-3891	66	49	estate	estate	NOUN
fsr-3891	66	50	professionals	professional	NOUN
fsr-3891	66	51	and	and	CCONJ
fsr-3891	66	52	consumers	consumer	NOUN
fsr-3891	66	53	.	.	PUNCT
fsr-3891	67	1	the	the	DET
fsr-3891	67	2	consumer	consumer	NOUN
fsr-3891	67	3	law	law	NOUN
fsr-3891	67	4	center	center	NOUN
fsr-3891	67	5	and	and	CCONJ
fsr-3891	67	6	the	the	DET
fsr-3891	67	7	consumer	consumer	NOUN
fsr-3891	67	8	federation	federation	PROPN
fsr-3891	67	9	of	of	ADP
fsr-3891	67	10	americans	americans	PROPN
fsr-3891	67	11	,	,	PUNCT
fsr-3891	67	12	among	among	ADP
fsr-3891	67	13	others	other	NOUN
fsr-3891	67	14	,	,	PUNCT
fsr-3891	67	15	claim	claim	VERB
fsr-3891	67	16	that	that	SCONJ
fsr-3891	67	17	the	the	DET
fsr-3891	67	18	money	money	NOUN
fsr-3891	67	19	rebated	rebate	VERB
fsr-3891	67	20	to	to	ADP
fsr-3891	67	21	consumers	consumer	NOUN
fsr-3891	67	22	is	be	AUX
fsr-3891	67	23	very	very	ADV
fsr-3891	67	24	small	small	ADJ
fsr-3891	67	25	relative	relative	ADJ
fsr-3891	67	26	to	to	ADP
fsr-3891	67	27	the	the	DET
fsr-3891	67	28	cost	cost	NOUN
fsr-3891	67	29	of	of	ADP
fsr-3891	67	30	affinity	affinity	NOUN
fsr-3891	67	31	programs	program	NOUN
fsr-3891	67	32	.	.	PUNCT
fsr-3891	68	1	participating	participate	VERB
fsr-3891	68	2	real	real	ADJ
fsr-3891	68	3	estate	estate	NOUN
fsr-3891	68	4	agents	agent	NOUN
fsr-3891	68	5	often	often	ADV
fsr-3891	68	6	have	have	VERB
fsr-3891	68	7	to	to	PART
fsr-3891	68	8	pay	pay	VERB
fsr-3891	68	9	affinity	affinity	NOUN
fsr-3891	68	10	companies	company	NOUN
fsr-3891	68	11	as	as	ADV
fsr-3891	68	12	much	much	ADJ
fsr-3891	68	13	as	as	ADP
fsr-3891	68	14	30	30	NUM
fsr-3891	68	15	%	%	NOUN
fsr-3891	68	16	of	of	ADP
fsr-3891	68	17	their	their	PRON
fsr-3891	68	18	gross	gross	ADJ
fsr-3891	68	19	commissions	commission	NOUN
fsr-3891	68	20	in	in	ADP
fsr-3891	68	21	referral	referral	ADJ
fsr-3891	68	22	fees	fee	NOUN
fsr-3891	68	23	,	,	PUNCT
fsr-3891	68	24	very	very	ADV
fsr-3891	68	25	little	little	ADJ
fsr-3891	68	26	of	of	ADP
fsr-3891	68	27	which	which	PRON
fsr-3891	68	28	ultimately	ultimately	ADV
fsr-3891	68	29	passes	pass	VERB
fsr-3891	68	30	to	to	ADP
fsr-3891	68	31	the	the	DET
fsr-3891	68	32	consumer	consumer	NOUN
fsr-3891	68	33	(	(	PUNCT
fsr-3891	68	34	agency	agency	NOUN
fsr-3891	68	35	law	law	NOUN
fsr-3891	68	36	quarterly	quarterly	ADV
fsr-3891	68	37	,	,	PUNCT
fsr-3891	68	38	1998	1998	NUM
fsr-3891	68	39	)	)	PUNCT
fsr-3891	68	40	.	.	PUNCT
fsr-3891	69	1	imperfections	imperfection	NOUN
fsr-3891	69	2	in	in	ADP
fsr-3891	69	3	the	the	DET
fsr-3891	69	4	market	market	NOUN
fsr-3891	69	5	may	may	AUX
fsr-3891	69	6	occur	occur	VERB
fsr-3891	69	7	due	due	ADP
fsr-3891	69	8	to	to	ADP
fsr-3891	69	9	imperfect	imperfect	ADJ
fsr-3891	69	10	information	information	NOUN
fsr-3891	69	11	.	.	PUNCT
fsr-3891	70	1	cost	cost	NOUN
fsr-3891	70	2	reductions	reduction	NOUN
fsr-3891	70	3	resulting	result	VERB
fsr-3891	70	4	from	from	ADP
fsr-3891	70	5	bundled	bundled	ADJ
fsr-3891	70	6	services	service	NOUN
fsr-3891	70	7	,	,	PUNCT
fsr-3891	70	8	rebates	rebate	NOUN
fsr-3891	70	9	,	,	PUNCT
fsr-3891	70	10	and	and	CCONJ
fsr-3891	70	11	other	other	ADJ
fsr-3891	70	12	goods	good	NOUN
fsr-3891	70	13	and	and	CCONJ
fsr-3891	70	14	services	service	NOUN
fsr-3891	70	15	provided	provide	VERB
fsr-3891	70	16	by	by	ADP
fsr-3891	70	17	affinity	affinity	NOUN
fsr-3891	70	18	partners	partner	NOUN
fsr-3891	70	19	may	may	AUX
fsr-3891	70	20	not	not	PART
fsr-3891	70	21	always	always	ADV
fsr-3891	70	22	be	be	AUX
fsr-3891	70	23	realized	realize	VERB
fsr-3891	70	24	.	.	PUNCT
fsr-3891	71	1	such	such	ADJ
fsr-3891	71	2	savings	saving	NOUN
fsr-3891	71	3	presuppose	presuppose	VERB
fsr-3891	71	4	that	that	PRON
fsr-3891	71	5	affinity	affinity	NOUN
fsr-3891	71	6	service	service	NOUN
fsr-3891	71	7	providers	provider	NOUN
fsr-3891	71	8	are	be	AUX
fsr-3891	71	9	less	less	ADV
fsr-3891	71	10	expensive	expensive	ADJ
fsr-3891	71	11	than	than	ADP
fsr-3891	71	12	non	non	ADJ
fsr-3891	71	13	-	-	ADJ
fsr-3891	71	14	affinity	affinity	ADJ
fsr-3891	71	15	competitors	competitor	NOUN
fsr-3891	71	16	.	.	PUNCT
fsr-3891	72	1	for	for	ADP
fsr-3891	72	2	example	example	NOUN
fsr-3891	72	3	,	,	PUNCT
fsr-3891	72	4	if	if	SCONJ
fsr-3891	72	5	a	a	DET
fsr-3891	72	6	consumer	consumer	NOUN
fsr-3891	72	7	receives	receive	VERB
fsr-3891	72	8	a	a	DET
fsr-3891	72	9	$	$	SYM
fsr-3891	72	10	300	300	NUM
fsr-3891	72	11	rebate	rebate	NOUN
fsr-3891	72	12	from	from	ADP
fsr-3891	72	13	an	an	DET
fsr-3891	72	14	affinity	affinity	NOUN
fsr-3891	72	15	broker	broker	NOUN
fsr-3891	72	16	but	but	CCONJ
fsr-3891	72	17	ends	end	VERB
fsr-3891	72	18	up	up	ADP
fsr-3891	72	19	paying	pay	VERB
fsr-3891	72	20	$	$	SYM
fsr-3891	72	21	800	800	NUM
fsr-3891	72	22	more	more	ADJ
fsr-3891	72	23	for	for	ADP
fsr-3891	72	24	a	a	DET
fsr-3891	72	25	mortgage	mortgage	NOUN
fsr-3891	72	26	through	through	ADP
fsr-3891	72	27	an	an	DET
fsr-3891	72	28	affinity	affinity	NOUN
fsr-3891	72	29	lender	lender	NOUN
fsr-3891	72	30	,	,	PUNCT
fsr-3891	72	31	the	the	DET
fsr-3891	72	32	consumer	consumer	NOUN
fsr-3891	72	33	is	be	AUX
fsr-3891	72	34	obviously	obviously	ADV
fsr-3891	72	35	not	not	PART
fsr-3891	72	36	better	well	ADJ
fsr-3891	72	37	off	off	ADP
fsr-3891	72	38	.	.	PUNCT
fsr-3891	73	1	in	in	ADP
fsr-3891	73	2	such	such	ADJ
fsr-3891	73	3	cases	case	NOUN
fsr-3891	73	4	sales	sale	NOUN
fsr-3891	73	5	agents	agent	NOUN
fsr-3891	73	6	,	,	PUNCT
fsr-3891	73	7	especially	especially	ADV
fsr-3891	73	8	if	if	SCONJ
fsr-3891	73	9	working	work	VERB
fsr-3891	73	10	as	as	ADP
fsr-3891	73	11	a	a	DET
fsr-3891	73	12	buyer	buyer	NOUN
fsr-3891	73	13	’s	’s	PART
fsr-3891	73	14	agents	agent	NOUN
fsr-3891	73	15	,	,	PUNCT
fsr-3891	73	16	could	could	AUX
fsr-3891	73	17	violate	violate	VERB
fsr-3891	73	18	their	their	PRON
fsr-3891	73	19	fiduciary	fiduciary	ADJ
fsr-3891	73	20	responsibility	responsibility	NOUN
fsr-3891	73	21	to	to	ADP
fsr-3891	73	22	their	their	PRON
fsr-3891	73	23	client	client	NOUN
fsr-3891	73	24	if	if	SCONJ
fsr-3891	73	25	they	they	PRON
fsr-3891	73	26	knowingly	knowingly	ADV
fsr-3891	73	27	send	send	VERB
fsr-3891	73	28	clients	client	NOUN
fsr-3891	73	29	to	to	ADP
fsr-3891	73	30	higher	high	ADJ
fsr-3891	73	31	priced	price	VERB
fsr-3891	73	32	service	service	NOUN
fsr-3891	73	33	providers	provider	NOUN
fsr-3891	73	34	.	.	PUNCT
fsr-3891	74	1	however	however	ADV
fsr-3891	74	2	,	,	PUNCT
fsr-3891	74	3	brokers	broker	NOUN
fsr-3891	74	4	could	could	AUX
fsr-3891	74	5	be	be	AUX
fsr-3891	74	6	threatened	threaten	VERB
fsr-3891	74	7	with	with	ADP
fsr-3891	74	8	the	the	DET
fsr-3891	74	9	loss	loss	NOUN
fsr-3891	74	10	of	of	ADP
fsr-3891	74	11	future	future	ADJ
fsr-3891	74	12	referral	referral	NOUN
fsr-3891	74	13	by	by	ADP
fsr-3891	74	14	informing	inform	VERB
fsr-3891	74	15	customers	customer	NOUN
fsr-3891	74	16	that	that	SCONJ
fsr-3891	74	17	their	their	PRON
fsr-3891	74	18	affinity	affinity	NOUN
fsr-3891	74	19	affiliates	affiliate	NOUN
fsr-3891	74	20	are	be	AUX
fsr-3891	74	21	more	more	ADV
fsr-3891	74	22	expensive	expensive	ADJ
fsr-3891	74	23	.	.	PUNCT
fsr-3891	75	1	such	such	ADJ
fsr-3891	75	2	coercion	coercion	NOUN
fsr-3891	75	3	could	could	AUX
fsr-3891	75	4	create	create	VERB
fsr-3891	75	5	serious	serious	ADJ
fsr-3891	75	6	conflict	conflict	NOUN
fsr-3891	75	7	of	of	ADP
fsr-3891	75	8	interest	interest	NOUN
fsr-3891	75	9	problems	problem	NOUN
fsr-3891	75	10	for	for	ADP
fsr-3891	75	11	brokers	broker	NOUN
fsr-3891	75	12	.	.	PUNCT
fsr-3891	76	1	for	for	ADP
fsr-3891	76	2	affinity	affinity	NOUN
fsr-3891	76	3	programs	program	NOUN
fsr-3891	76	4	to	to	PART
fsr-3891	76	5	truly	truly	ADV
fsr-3891	76	6	benefit	benefit	VERB
fsr-3891	76	7	the	the	DET
fsr-3891	76	8	consumer	consumer	NOUN
fsr-3891	76	9	,	,	PUNCT
fsr-3891	76	10	there	there	PRON
fsr-3891	76	11	must	must	AUX
fsr-3891	76	12	be	be	AUX
fsr-3891	76	13	an	an	DET
fsr-3891	76	14	incentive	incentive	NOUN
fsr-3891	76	15	structure	structure	NOUN
fsr-3891	76	16	in	in	ADP
fsr-3891	76	17	place	place	NOUN
fsr-3891	76	18	that	that	PRON
fsr-3891	76	19	aligns	align	VERB
fsr-3891	76	20	the	the	DET
fsr-3891	76	21	best	good	ADJ
fsr-3891	76	22	interest	interest	NOUN
fsr-3891	76	23	of	of	ADP
fsr-3891	76	24	the	the	DET
fsr-3891	76	25	consumer	consumer	NOUN
fsr-3891	76	26	with	with	ADP
fsr-3891	76	27	the	the	DET
fsr-3891	76	28	self	self	NOUN
fsr-3891	76	29	-	-	PUNCT
fsr-3891	76	30	interest	interest	NOUN
fsr-3891	76	31	of	of	ADP
fsr-3891	76	32	all	all	DET
fsr-3891	76	33	participating	participate	VERB
fsr-3891	76	34	service	service	NOUN
fsr-3891	76	35	providers	provider	NOUN
fsr-3891	76	36	,	,	PUNCT
fsr-3891	76	37	including	include	VERB
fsr-3891	76	38	the	the	DET
fsr-3891	76	39	broker	broker	NOUN
fsr-3891	76	40	.	.	PUNCT
fsr-3891	77	1	another	another	DET
fsr-3891	77	2	complaint	complaint	NOUN
fsr-3891	77	3	against	against	ADP
fsr-3891	77	4	affinity	affinity	NOUN
fsr-3891	77	5	groups	group	NOUN
fsr-3891	77	6	is	be	AUX
fsr-3891	77	7	that	that	SCONJ
fsr-3891	77	8	much	much	ADJ
fsr-3891	77	9	of	of	ADP
fsr-3891	77	10	their	their	PRON
fsr-3891	77	11	activities	activity	NOUN
fsr-3891	77	12	are	be	AUX
fsr-3891	77	13	outside	outside	ADP
fsr-3891	77	14	the	the	DET
fsr-3891	77	15	scope	scope	NOUN
fsr-3891	77	16	of	of	ADP
fsr-3891	77	17	state	state	NOUN
fsr-3891	77	18	regulators	regulator	NOUN
fsr-3891	77	19	and	and	CCONJ
fsr-3891	77	20	real	real	ADJ
fsr-3891	77	21	estate	estate	NOUN
fsr-3891	77	22	commissions	commission	NOUN
fsr-3891	77	23	.	.	PUNCT
fsr-3891	78	1	in	in	ADP
fsr-3891	78	2	fact	fact	NOUN
fsr-3891	78	3	,	,	PUNCT
fsr-3891	78	4	the	the	DET
fsr-3891	78	5	financial	financial	ADJ
fsr-3891	78	6	regulatory	regulatory	ADJ
fsr-3891	78	7	relief	relief	NOUN
fsr-3891	78	8	and	and	CCONJ
fsr-3891	78	9	economics	economic	NOUN
fsr-3891	78	10	efficiency	efficiency	NOUN
fsr-3891	78	11	act	act	NOUN
fsr-3891	78	12	now	now	ADV
fsr-3891	78	13	before	before	SCONJ
fsr-3891	78	14	congress	congress	PROPN
fsr-3891	78	15	would	would	AUX
fsr-3891	78	16	,	,	PUNCT
fsr-3891	78	17	if	if	SCONJ
fsr-3891	78	18	passed	pass	VERB
fsr-3891	78	19	,	,	PUNCT
fsr-3891	78	20	prevent	prevent	VERB
fsr-3891	78	21	states	state	NOUN
fsr-3891	78	22	from	from	ADP
fsr-3891	78	23	prohibiting	prohibit	VERB
fsr-3891	78	24	affinity	affinity	NOUN
fsr-3891	78	25	rebates	rebate	NOUN
fsr-3891	78	26	.	.	PUNCT
fsr-3891	79	1	at	at	ADP
fsr-3891	79	2	the	the	DET
fsr-3891	79	3	other	other	ADJ
fsr-3891	79	4	end	end	NOUN
fsr-3891	79	5	of	of	ADP
fsr-3891	79	6	the	the	DET
fsr-3891	79	7	spectrum	spectrum	NOUN
fsr-3891	79	8	,	,	PUNCT
fsr-3891	79	9	a	a	DET
fsr-3891	79	10	number	number	NOUN
fsr-3891	79	11	of	of	ADP
fsr-3891	79	12	states	state	NOUN
fsr-3891	79	13	,	,	PUNCT
fsr-3891	79	14	including	include	VERB
fsr-3891	79	15	maryland	maryland	NOUN
fsr-3891	79	16	,	,	PUNCT
fsr-3891	79	17	new	new	PROPN
fsr-3891	79	18	jersey	jersey	PROPN
fsr-3891	79	19	,	,	PUNCT
fsr-3891	79	20	and	and	CCONJ
fsr-3891	79	21	mississippi	mississippi	NOUN
fsr-3891	79	22	,	,	PUNCT
fsr-3891	79	23	either	either	CCONJ
fsr-3891	79	24	prohibit	prohibit	VERB
fsr-3891	79	25	affinity	affinity	NOUN
fsr-3891	79	26	rebates	rebate	NOUN
fsr-3891	79	27	or	or	CCONJ
fsr-3891	79	28	consider	consider	VERB
fsr-3891	79	29	them	they	PRON
fsr-3891	79	30	to	to	PART
fsr-3891	79	31	be	be	AUX
fsr-3891	79	32	illegal	illegal	ADJ
fsr-3891	79	33	inducements	inducement	NOUN
fsr-3891	79	34	to	to	ADP
fsr-3891	79	35	consumers	consumer	NOUN
fsr-3891	79	36	.	.	PUNCT
fsr-3891	80	1	limiting	limit	VERB
fsr-3891	80	2	consumers	consumer	NOUN
fsr-3891	80	3	to	to	ADP
fsr-3891	80	4	certain	certain	ADJ
fsr-3891	80	5	brokers	broker	NOUN
fsr-3891	80	6	,	,	PUNCT
fsr-3891	80	7	or	or	CCONJ
fsr-3891	80	8	alternatively	alternatively	ADV
fsr-3891	80	9	,	,	PUNCT
fsr-3891	80	10	barring	bar	VERB
fsr-3891	80	11	affinity	affinity	NOUN
fsr-3891	80	12	rebates	rebate	NOUN
fsr-3891	80	13	can	can	AUX
fsr-3891	80	14	present	present	VERB
fsr-3891	80	15	some	some	DET
fsr-3891	80	16	freedom	freedom	NOUN
fsr-3891	80	17	of	of	ADP
fsr-3891	80	18	choice	choice	NOUN
fsr-3891	80	19	problems	problem	NOUN
fsr-3891	80	20	,	,	PUNCT
fsr-3891	80	21	whereas	whereas	SCONJ
fsr-3891	80	22	over	over	ADV
fsr-3891	80	23	-	-	PUNCT
fsr-3891	80	24	riding	ride	VERB
fsr-3891	80	25	state	state	NOUN
fsr-3891	80	26	regulatory	regulatory	ADJ
fsr-3891	80	27	authorities	authority	NOUN
fsr-3891	80	28	can	can	AUX
fsr-3891	80	29	create	create	VERB
fsr-3891	80	30	some	some	DET
fsr-3891	80	31	states	state	NOUN
fsr-3891	80	32	rights	right	NOUN
fsr-3891	80	33	issues	issue	NOUN
fsr-3891	80	34	.	.	PUNCT
fsr-3891	81	1	as	as	SCONJ
fsr-3891	81	2	the	the	DET
fsr-3891	81	3	previous	previous	ADJ
fsr-3891	81	4	discussion	discussion	NOUN
fsr-3891	81	5	indicates	indicate	VERB
fsr-3891	81	6	,	,	PUNCT
fsr-3891	81	7	affinity	affinity	NOUN
fsr-3891	81	8	programs	program	NOUN
fsr-3891	81	9	presently	presently	ADV
fsr-3891	81	10	exist	exist	VERB
fsr-3891	81	11	with	with	ADP
fsr-3891	81	12	a	a	DET
fsr-3891	81	13	certain	certain	ADJ
fsr-3891	81	14	degree	degree	NOUN
fsr-3891	81	15	of	of	ADP
fsr-3891	81	16	controversy	controversy	NOUN
fsr-3891	81	17	.	.	PUNCT
fsr-3891	82	1	however	however	ADV
fsr-3891	82	2	,	,	PUNCT
fsr-3891	82	3	as	as	SCONJ
fsr-3891	82	4	noted	note	VERB
fsr-3891	82	5	above	above	ADV
fsr-3891	82	6	,	,	PUNCT
fsr-3891	82	7	there	there	PRON
fsr-3891	82	8	has	have	AUX
fsr-3891	82	9	been	be	AUX
fsr-3891	82	10	little	little	ADJ
fsr-3891	82	11	empirical	empirical	ADJ
fsr-3891	82	12	evidence	evidence	NOUN
fsr-3891	82	13	available	available	ADJ
fsr-3891	82	14	to	to	PART
fsr-3891	82	15	assess	assess	VERB
fsr-3891	82	16	the	the	DET
fsr-3891	82	17	impact	impact	NOUN
fsr-3891	82	18	of	of	ADP
fsr-3891	82	19	affinity	affinity	NOUN
fsr-3891	82	20	programs	program	NOUN
fsr-3891	82	21	on	on	ADP
fsr-3891	82	22	the	the	DET
fsr-3891	82	23	real	real	ADJ
fsr-3891	82	24	estate	estate	NOUN
fsr-3891	82	25	brokerage	brokerage	NOUN
fsr-3891	82	26	industry	industry	NOUN
fsr-3891	82	27	.	.	PUNCT
fsr-3891	83	1	in	in	ADP
fsr-3891	83	2	the	the	DET
fsr-3891	83	3	next	next	ADJ
fsr-3891	83	4	section	section	NOUN
fsr-3891	83	5	we	we	PRON
fsr-3891	83	6	provide	provide	VERB
fsr-3891	83	7	a	a	DET
fsr-3891	83	8	summary	summary	NOUN
fsr-3891	83	9	the	the	DET
fsr-3891	83	10	previous	previous	ADJ
fsr-3891	83	11	research	research	NOUN
fsr-3891	83	12	on	on	ADP
fsr-3891	83	13	the	the	DET
fsr-3891	83	14	affinity	affinity	NOUN
fsr-3891	83	15	issue	issue	NOUN
fsr-3891	83	16	.	.	PUNCT
fsr-3891	84	1	186	186	NUM
fsr-3891	84	2	d.	d.	PROPN
fsr-3891	84	3	lewis	lewis	PROPN
fsr-3891	84	4	et	et	PROPN
fsr-3891	84	5	al	al	PROPN
fsr-3891	84	6	.	.	PUNCT
fsr-3891	84	7	/	/	SYM
fsr-3891	84	8	financial	financial	ADJ
fsr-3891	84	9	services	service	NOUN
fsr-3891	84	10	review	review	VERB
fsr-3891	84	11	8	8	NUM
fsr-3891	84	12	(	(	PUNCT
fsr-3891	84	13	1999	1999	NUM
fsr-3891	84	14	)	)	PUNCT
fsr-3891	84	15	183–197	183–197	NUM
fsr-3891	84	16	2.3	2.3	NUM
fsr-3891	84	17	.	.	PUNCT
fsr-3891	85	1	prior	prior	ADJ
fsr-3891	85	2	empirical	empirical	ADJ
fsr-3891	85	3	research	research	NOUN
fsr-3891	85	4	surveys	survey	NOUN
fsr-3891	85	5	in	in	ADP
fsr-3891	85	6	1996	1996	NUM
fsr-3891	85	7	and	and	CCONJ
fsr-3891	85	8	1998	1998	NUM
fsr-3891	85	9	by	by	ADP
fsr-3891	85	10	the	the	DET
fsr-3891	85	11	nar	nar	NOUN
fsr-3891	85	12	questioned	question	VERB
fsr-3891	85	13	brokers	broker	NOUN
fsr-3891	85	14	as	as	ADP
fsr-3891	85	15	to	to	ADP
fsr-3891	85	16	their	their	PRON
fsr-3891	85	17	perceptions	perception	NOUN
fsr-3891	85	18	about	about	ADP
fsr-3891	85	19	the	the	DET
fsr-3891	85	20	impact	impact	NOUN
fsr-3891	85	21	of	of	ADP
fsr-3891	85	22	affinity	affinity	NOUN
fsr-3891	85	23	programs	program	NOUN
fsr-3891	85	24	on	on	ADP
fsr-3891	85	25	their	their	PRON
fsr-3891	85	26	business	business	NOUN
fsr-3891	85	27	.	.	PUNCT
fsr-3891	86	1	the	the	DET
fsr-3891	86	2	1996	1996	NUM
fsr-3891	86	3	survey	survey	NOUN
fsr-3891	86	4	contains	contain	VERB
fsr-3891	86	5	722	722	NUM
fsr-3891	86	6	useable	useable	ADJ
fsr-3891	86	7	responses	response	NOUN
fsr-3891	86	8	(;	(;	ADP
fsr-3891	86	9	7	7	NUM
fsr-3891	86	10	%	%	NOUN
fsr-3891	86	11	response	response	NOUN
fsr-3891	86	12	rate	rate	NOUN
fsr-3891	86	13	)	)	PUNCT
fsr-3891	86	14	from	from	ADP
fsr-3891	86	15	designated	designate	VERB
fsr-3891	86	16	realtors	realtor	NOUN
fsr-3891	86	17	©	©	ADJ
fsr-3891	86	18	across	across	ADP
fsr-3891	86	19	the	the	DET
fsr-3891	86	20	nation	nation	NOUN
fsr-3891	86	21	,	,	PUNCT
fsr-3891	86	22	using	use	VERB
fsr-3891	86	23	a	a	DET
fsr-3891	86	24	random	random	ADJ
fsr-3891	86	25	sampling	sampling	NOUN
fsr-3891	86	26	procedure	procedure	NOUN
fsr-3891	86	27	.	.	PUNCT
fsr-3891	87	1	the	the	DET
fsr-3891	87	2	nar	nar	NOUN
fsr-3891	87	3	deemed	deem	VERB
fsr-3891	87	4	the	the	DET
fsr-3891	87	5	survey	survey	NOUN
fsr-3891	87	6	representative	representative	NOUN
fsr-3891	87	7	of	of	ADP
fsr-3891	87	8	the	the	DET
fsr-3891	87	9	membership	membership	NOUN
fsr-3891	87	10	in	in	ADP
fsr-3891	87	11	all	all	DET
fsr-3891	87	12	four	four	NUM
fsr-3891	87	13	-	-	PUNCT
fsr-3891	87	14	census	census	NOUN
fsr-3891	87	15	regions	region	NOUN
fsr-3891	87	16	,	,	PUNCT
fsr-3891	87	17	and	and	CCONJ
fsr-3891	87	18	hence	hence	ADV
fsr-3891	87	19	conclusions	conclusion	NOUN
fsr-3891	87	20	are	be	AUX
fsr-3891	87	21	drawn	draw	VERB
fsr-3891	87	22	for	for	ADP
fsr-3891	87	23	the	the	DET
fsr-3891	87	24	entire	entire	ADJ
fsr-3891	87	25	population	population	NOUN
fsr-3891	87	26	.	.	PUNCT
fsr-3891	88	1	the	the	DET
fsr-3891	88	2	survey	survey	NOUN
fsr-3891	88	3	contains	contain	VERB
fsr-3891	88	4	information	information	NOUN
fsr-3891	88	5	from	from	ADP
fsr-3891	88	6	responses	response	NOUN
fsr-3891	88	7	based	base	VERB
fsr-3891	88	8	on	on	ADP
fsr-3891	88	9	the	the	DET
fsr-3891	88	10	previous	previous	ADJ
fsr-3891	88	11	year	year	NOUN
fsr-3891	88	12	,	,	PUNCT
fsr-3891	88	13	1995	1995	NUM
fsr-3891	88	14	.	.	PUNCT
fsr-3891	89	1	a	a	DET
fsr-3891	89	2	follow	follow	NOUN
fsr-3891	89	3	-	-	PUNCT
fsr-3891	89	4	up	up	NOUN
fsr-3891	89	5	1998	1998	NUM
fsr-3891	89	6	survey	survey	NOUN
fsr-3891	89	7	contains	contain	VERB
fsr-3891	89	8	635	635	NUM
fsr-3891	89	9	useable	useable	ADJ
fsr-3891	89	10	responses	response	NOUN
fsr-3891	89	11	(;	(;	ADP
fsr-3891	89	12	6	6	NUM
fsr-3891	89	13	%	%	NOUN
fsr-3891	89	14	response	response	NOUN
fsr-3891	89	15	rate	rate	NOUN
fsr-3891	89	16	)	)	PUNCT
fsr-3891	89	17	.	.	PUNCT
fsr-3891	90	1	this	this	DET
fsr-3891	90	2	follow	follow	NOUN
fsr-3891	90	3	-	-	PUNCT
fsr-3891	90	4	up	up	ADP
fsr-3891	90	5	survey	survey	NOUN
fsr-3891	90	6	is	be	AUX
fsr-3891	90	7	not	not	PART
fsr-3891	90	8	completely	completely	ADV
fsr-3891	90	9	random	random	ADJ
fsr-3891	90	10	.	.	PUNCT
fsr-3891	91	1	in	in	ADP
fsr-3891	91	2	addition	addition	NOUN
fsr-3891	91	3	to	to	ADP
fsr-3891	91	4	a	a	DET
fsr-3891	91	5	random	random	ADJ
fsr-3891	91	6	sample	sample	NOUN
fsr-3891	91	7	of	of	ADP
fsr-3891	91	8	the	the	DET
fsr-3891	91	9	membership	membership	NOUN
fsr-3891	91	10	,	,	PUNCT
fsr-3891	91	11	the	the	DET
fsr-3891	91	12	survey	survey	NOUN
fsr-3891	91	13	sampled	sample	VERB
fsr-3891	91	14	500	500	NUM
fsr-3891	91	15	of	of	ADP
fsr-3891	91	16	the	the	DET
fsr-3891	91	17	leading	lead	VERB
fsr-3891	91	18	real	real	ADJ
fsr-3891	91	19	estate	estate	NOUN
fsr-3891	91	20	firms	firm	NOUN
fsr-3891	91	21	as	as	SCONJ
fsr-3891	91	22	defined	define	VERB
fsr-3891	91	23	and	and	CCONJ
fsr-3891	91	24	identified	identify	VERB
fsr-3891	91	25	by	by	ADP
fsr-3891	91	26	realtrends	realtrend	NOUN
fsr-3891	91	27	.	.	PUNCT
fsr-3891	92	1	again	again	ADV
fsr-3891	92	2	the	the	DET
fsr-3891	92	3	responses	response	NOUN
fsr-3891	92	4	are	be	AUX
fsr-3891	92	5	based	base	VERB
fsr-3891	92	6	on	on	ADP
fsr-3891	92	7	the	the	DET
fsr-3891	92	8	previous	previous	ADJ
fsr-3891	92	9	business	business	NOUN
fsr-3891	92	10	year	year	NOUN
fsr-3891	92	11	,	,	PUNCT
fsr-3891	92	12	1997	1997	NUM
fsr-3891	92	13	.	.	PUNCT
fsr-3891	93	1	it	it	PRON
fsr-3891	93	2	is	be	AUX
fsr-3891	93	3	important	important	ADJ
fsr-3891	93	4	to	to	PART
fsr-3891	93	5	emphasize	emphasize	VERB
fsr-3891	93	6	that	that	SCONJ
fsr-3891	93	7	these	these	DET
fsr-3891	93	8	survey	survey	NOUN
fsr-3891	93	9	responses	response	NOUN
fsr-3891	93	10	do	do	AUX
fsr-3891	93	11	not	not	PART
fsr-3891	93	12	contain	contain	VERB
fsr-3891	93	13	any	any	DET
fsr-3891	93	14	financial	financial	ADJ
fsr-3891	93	15	data	datum	NOUN
fsr-3891	93	16	and	and	CCONJ
fsr-3891	93	17	are	be	AUX
fsr-3891	93	18	based	base	VERB
fsr-3891	93	19	solely	solely	ADV
fsr-3891	93	20	on	on	ADP
fsr-3891	93	21	the	the	DET
fsr-3891	93	22	opinions	opinion	NOUN
fsr-3891	93	23	of	of	ADP
fsr-3891	93	24	respondents	respondent	NOUN
fsr-3891	93	25	.	.	PUNCT
fsr-3891	94	1	moreover	moreover	ADV
fsr-3891	94	2	,	,	PUNCT
fsr-3891	94	3	even	even	ADV
fsr-3891	94	4	though	though	SCONJ
fsr-3891	94	5	the	the	DET
fsr-3891	94	6	surveys	survey	NOUN
fsr-3891	94	7	were	be	AUX
fsr-3891	94	8	deemed	deem	VERB
fsr-3891	94	9	reliable	reliable	ADJ
fsr-3891	94	10	by	by	ADP
fsr-3891	94	11	the	the	DET
fsr-3891	94	12	nar	nar	NOUN
fsr-3891	94	13	,	,	PUNCT
fsr-3891	94	14	the	the	DET
fsr-3891	94	15	response	response	NOUN
fsr-3891	94	16	rate	rate	NOUN
fsr-3891	94	17	is	be	AUX
fsr-3891	94	18	very	very	ADV
fsr-3891	94	19	small	small	ADJ
fsr-3891	94	20	,	,	PUNCT
fsr-3891	94	21	and	and	CCONJ
fsr-3891	94	22	any	any	DET
fsr-3891	94	23	conclusions	conclusion	NOUN
fsr-3891	94	24	should	should	AUX
fsr-3891	94	25	be	be	AUX
fsr-3891	94	26	interpreted	interpret	VERB
fsr-3891	94	27	with	with	ADP
fsr-3891	94	28	caution	caution	NOUN
fsr-3891	94	29	.	.	PUNCT
fsr-3891	95	1	the	the	DET
fsr-3891	95	2	results	result	NOUN
fsr-3891	95	3	indicate	indicate	VERB
fsr-3891	95	4	that	that	SCONJ
fsr-3891	95	5	affinity	affinity	NOUN
fsr-3891	95	6	participation	participation	NOUN
fsr-3891	95	7	is	be	AUX
fsr-3891	95	8	increasing	increase	VERB
fsr-3891	95	9	,	,	PUNCT
fsr-3891	95	10	but	but	CCONJ
fsr-3891	95	11	overall	overall	ADJ
fsr-3891	95	12	participation	participation	NOUN
fsr-3891	95	13	remains	remain	VERB
fsr-3891	95	14	modest	modest	ADJ
fsr-3891	95	15	.	.	PUNCT
fsr-3891	96	1	in	in	ADP
fsr-3891	96	2	particular	particular	ADJ
fsr-3891	96	3	,	,	PUNCT
fsr-3891	96	4	the	the	DET
fsr-3891	96	5	percentage	percentage	NOUN
fsr-3891	96	6	of	of	ADP
fsr-3891	96	7	respondent	respondent	NOUN
fsr-3891	96	8	firms	firm	NOUN
fsr-3891	96	9	that	that	PRON
fsr-3891	96	10	affiliate	affiliate	NOUN
fsr-3891	96	11	with	with	ADP
fsr-3891	96	12	affinity	affinity	NOUN
fsr-3891	96	13	programs	program	NOUN
fsr-3891	96	14	has	have	AUX
fsr-3891	96	15	risen	rise	VERB
fsr-3891	96	16	from	from	ADP
fsr-3891	96	17	16	16	NUM
fsr-3891	96	18	%	%	NOUN
fsr-3891	96	19	in	in	ADP
fsr-3891	96	20	1995	1995	NUM
fsr-3891	96	21	to	to	ADP
fsr-3891	96	22	24	24	NUM
fsr-3891	96	23	%	%	NOUN
fsr-3891	96	24	in	in	ADP
fsr-3891	96	25	1997	1997	NUM
fsr-3891	96	26	.	.	PUNCT
fsr-3891	97	1	mcmillan	mcmillan	NOUN
fsr-3891	97	2	(	(	PUNCT
fsr-3891	97	3	1997	1997	NUM
fsr-3891	97	4	)	)	PUNCT
fsr-3891	97	5	provides	provide	VERB
fsr-3891	97	6	additional	additional	ADJ
fsr-3891	97	7	support	support	NOUN
fsr-3891	97	8	for	for	ADP
fsr-3891	97	9	these	these	DET
fsr-3891	97	10	results	result	NOUN
fsr-3891	97	11	as	as	SCONJ
fsr-3891	97	12	he	he	PRON
fsr-3891	97	13	suggests	suggest	VERB
fsr-3891	97	14	that	that	SCONJ
fsr-3891	97	15	affinity	affinity	NOUN
fsr-3891	97	16	programs	program	NOUN
fsr-3891	97	17	are	be	AUX
fsr-3891	97	18	rapidly	rapidly	ADV
fsr-3891	97	19	growing	grow	VERB
fsr-3891	97	20	on	on	ADP
fsr-3891	97	21	the	the	DET
fsr-3891	97	22	east	east	PROPN
fsr-3891	97	23	coast	coast	NOUN
fsr-3891	97	24	and	and	CCONJ
fsr-3891	97	25	in	in	ADP
fsr-3891	97	26	california	california	PROPN
fsr-3891	97	27	.	.	PUNCT
fsr-3891	98	1	however	however	ADV
fsr-3891	98	2	,	,	PUNCT
fsr-3891	98	3	he	he	PRON
fsr-3891	98	4	notes	note	VERB
fsr-3891	98	5	that	that	SCONJ
fsr-3891	98	6	in	in	ADP
fsr-3891	98	7	some	some	DET
fsr-3891	98	8	locations	location	NOUN
fsr-3891	98	9	the	the	DET
fsr-3891	98	10	programs	program	NOUN
fsr-3891	98	11	are	be	AUX
fsr-3891	98	12	just	just	ADV
fsr-3891	98	13	not	not	PART
fsr-3891	98	14	catching	catch	VERB
fsr-3891	98	15	on	on	ADP
fsr-3891	98	16	,	,	PUNCT
fsr-3891	98	17	which	which	PRON
fsr-3891	98	18	brings	bring	VERB
fsr-3891	98	19	up	up	ADP
fsr-3891	98	20	issues	issue	NOUN
fsr-3891	98	21	on	on	ADP
fsr-3891	98	22	what	what	PRON
fsr-3891	98	23	settings	setting	NOUN
fsr-3891	98	24	or	or	CCONJ
fsr-3891	98	25	circumstances	circumstance	NOUN
fsr-3891	98	26	promote	promote	VERB
fsr-3891	98	27	affinity	affinity	NOUN
fsr-3891	98	28	affiliation	affiliation	NOUN
fsr-3891	98	29	.	.	PUNCT
fsr-3891	99	1	the	the	DET
fsr-3891	99	2	results	result	NOUN
fsr-3891	99	3	also	also	ADV
fsr-3891	99	4	indicate	indicate	VERB
fsr-3891	99	5	that	that	SCONJ
fsr-3891	99	6	once	once	SCONJ
fsr-3891	99	7	brokerage	brokerage	NOUN
fsr-3891	99	8	firms	firm	NOUN
fsr-3891	99	9	begin	begin	VERB
fsr-3891	99	10	an	an	DET
fsr-3891	99	11	affinity	affinity	NOUN
fsr-3891	99	12	relationship	relationship	NOUN
fsr-3891	99	13	,	,	PUNCT
fsr-3891	99	14	they	they	PRON
fsr-3891	99	15	usually	usually	ADV
fsr-3891	99	16	participate	participate	VERB
fsr-3891	99	17	in	in	ADP
fsr-3891	99	18	more	more	ADJ
fsr-3891	99	19	than	than	ADP
fsr-3891	99	20	one	one	NUM
fsr-3891	99	21	program	program	NOUN
fsr-3891	99	22	.	.	PUNCT
fsr-3891	100	1	in	in	ADP
fsr-3891	100	2	1995	1995	NUM
fsr-3891	100	3	approximately	approximately	ADV
fsr-3891	100	4	63	63	NUM
fsr-3891	100	5	%	%	NOUN
fsr-3891	100	6	of	of	ADP
fsr-3891	100	7	affinity	affinity	NOUN
fsr-3891	100	8	participating	participate	VERB
fsr-3891	100	9	firms	firm	NOUN
fsr-3891	100	10	had	have	VERB
fsr-3891	100	11	more	more	ADJ
fsr-3891	100	12	than	than	ADP
fsr-3891	100	13	one	one	NUM
fsr-3891	100	14	affinity	affinity	NOUN
fsr-3891	100	15	partner	partner	NOUN
fsr-3891	100	16	.	.	PUNCT
fsr-3891	101	1	that	that	DET
fsr-3891	101	2	number	number	NOUN
fsr-3891	101	3	jumps	jump	VERB
fsr-3891	101	4	to	to	ADP
fsr-3891	101	5	79	79	NUM
fsr-3891	101	6	%	%	NOUN
fsr-3891	101	7	of	of	ADP
fsr-3891	101	8	firms	firm	NOUN
fsr-3891	101	9	having	have	VERB
fsr-3891	101	10	multiple	multiple	ADJ
fsr-3891	101	11	relationships	relationship	NOUN
fsr-3891	101	12	in	in	ADP
fsr-3891	101	13	1997	1997	NUM
fsr-3891	101	14	.	.	PUNCT
fsr-3891	102	1	the	the	DET
fsr-3891	102	2	surveys	survey	NOUN
fsr-3891	102	3	also	also	ADV
fsr-3891	102	4	reveal	reveal	VERB
fsr-3891	102	5	that	that	SCONJ
fsr-3891	102	6	brokerages	brokerage	NOUN
fsr-3891	102	7	primarily	primarily	ADV
fsr-3891	102	8	partner	partner	VERB
fsr-3891	102	9	with	with	ADP
fsr-3891	102	10	corporations	corporation	NOUN
fsr-3891	102	11	,	,	PUNCT
fsr-3891	102	12	professional	professional	ADJ
fsr-3891	102	13	associations	association	NOUN
fsr-3891	102	14	,	,	PUNCT
fsr-3891	102	15	employers	employer	NOUN
fsr-3891	102	16	,	,	PUNCT
fsr-3891	102	17	and	and	CCONJ
fsr-3891	102	18	unions	union	NOUN
fsr-3891	102	19	.	.	PUNCT
fsr-3891	103	1	the	the	DET
fsr-3891	103	2	nar	nar	NOUN
fsr-3891	103	3	reports	report	NOUN
fsr-3891	103	4	also	also	ADV
fsr-3891	103	5	note	note	VERB
fsr-3891	103	6	that	that	SCONJ
fsr-3891	103	7	affinity	affinity	NOUN
fsr-3891	103	8	participation	participation	NOUN
fsr-3891	103	9	is	be	AUX
fsr-3891	103	10	greatest	great	ADJ
fsr-3891	103	11	among	among	ADP
fsr-3891	103	12	the	the	DET
fsr-3891	103	13	larger	large	ADJ
fsr-3891	103	14	real	real	ADJ
fsr-3891	103	15	estate	estate	NOUN
fsr-3891	103	16	companies	company	NOUN
fsr-3891	103	17	and	and	CCONJ
fsr-3891	103	18	franchise	franchise	NOUN
fsr-3891	103	19	firms	firm	NOUN
fsr-3891	103	20	.	.	PUNCT
fsr-3891	104	1	when	when	SCONJ
fsr-3891	104	2	examining	examine	VERB
fsr-3891	104	3	the	the	DET
fsr-3891	104	4	impact	impact	NOUN
fsr-3891	104	5	on	on	ADP
fsr-3891	104	6	firm	firm	ADJ
fsr-3891	104	7	performance	performance	NOUN
fsr-3891	104	8	,	,	PUNCT
fsr-3891	104	9	the	the	DET
fsr-3891	104	10	survey	survey	NOUN
fsr-3891	104	11	results	result	NOUN
fsr-3891	104	12	reveal	reveal	VERB
fsr-3891	104	13	that	that	SCONJ
fsr-3891	104	14	most	most	ADJ
fsr-3891	104	15	respondents	respondent	NOUN
fsr-3891	104	16	either	either	CCONJ
fsr-3891	104	17	did	do	AUX
fsr-3891	104	18	not	not	PART
fsr-3891	104	19	know	know	VERB
fsr-3891	104	20	the	the	DET
fsr-3891	104	21	impact	impact	NOUN
fsr-3891	104	22	of	of	ADP
fsr-3891	104	23	affinity	affinity	NOUN
fsr-3891	104	24	programs	program	NOUN
fsr-3891	104	25	on	on	ADP
fsr-3891	104	26	the	the	DET
fsr-3891	104	27	various	various	ADJ
fsr-3891	104	28	measures	measure	NOUN
fsr-3891	104	29	of	of	ADP
fsr-3891	104	30	performance	performance	NOUN
fsr-3891	104	31	,	,	PUNCT
fsr-3891	104	32	or	or	CCONJ
fsr-3891	104	33	that	that	SCONJ
fsr-3891	104	34	they	they	PRON
fsr-3891	104	35	thought	think	VERB
fsr-3891	104	36	that	that	SCONJ
fsr-3891	104	37	affinity	affinity	NOUN
fsr-3891	104	38	programs	program	NOUN
fsr-3891	104	39	did	do	AUX
fsr-3891	104	40	not	not	PART
fsr-3891	104	41	impact	impact	VERB
fsr-3891	104	42	performance	performance	NOUN
fsr-3891	104	43	.	.	PUNCT
fsr-3891	105	1	only	only	ADV
fsr-3891	105	2	9	9	NUM
fsr-3891	105	3	%	%	NOUN
fsr-3891	105	4	report	report	NOUN
fsr-3891	105	5	an	an	DET
fsr-3891	105	6	increase	increase	NOUN
fsr-3891	105	7	in	in	ADP
fsr-3891	105	8	agent	agent	NOUN
fsr-3891	105	9	productivity	productivity	NOUN
fsr-3891	105	10	,	,	PUNCT
fsr-3891	105	11	and	and	CCONJ
fsr-3891	105	12	only	only	ADV
fsr-3891	105	13	10	10	NUM
fsr-3891	105	14	%	%	NOUN
fsr-3891	105	15	reported	report	VERB
fsr-3891	105	16	an	an	DET
fsr-3891	105	17	increase	increase	NOUN
fsr-3891	105	18	in	in	ADP
fsr-3891	105	19	their	their	PRON
fsr-3891	105	20	firm	firm	NOUN
fsr-3891	105	21	’s	’s	PART
fsr-3891	105	22	listings	listing	NOUN
fsr-3891	105	23	.	.	PUNCT
fsr-3891	106	1	we	we	PRON
fsr-3891	106	2	must	must	AUX
fsr-3891	106	3	point	point	VERB
fsr-3891	106	4	out	out	ADP
fsr-3891	106	5	,	,	PUNCT
fsr-3891	106	6	however	however	ADV
fsr-3891	106	7	,	,	PUNCT
fsr-3891	106	8	that	that	SCONJ
fsr-3891	106	9	these	these	DET
fsr-3891	106	10	responses	response	NOUN
fsr-3891	106	11	were	be	AUX
fsr-3891	106	12	not	not	PART
fsr-3891	106	13	based	base	VERB
fsr-3891	106	14	upon	upon	SCONJ
fsr-3891	106	15	financial	financial	ADJ
fsr-3891	106	16	or	or	CCONJ
fsr-3891	106	17	accounting	accounting	NOUN
fsr-3891	106	18	data	datum	NOUN
fsr-3891	106	19	,	,	PUNCT
fsr-3891	106	20	but	but	CCONJ
fsr-3891	106	21	rather	rather	ADV
fsr-3891	106	22	,	,	PUNCT
fsr-3891	106	23	represented	represent	VERB
fsr-3891	106	24	the	the	DET
fsr-3891	106	25	opinions	opinion	NOUN
fsr-3891	106	26	of	of	ADP
fsr-3891	106	27	respondents	respondent	NOUN
fsr-3891	106	28	.	.	PUNCT
fsr-3891	107	1	hence	hence	ADV
fsr-3891	107	2	,	,	PUNCT
fsr-3891	107	3	these	these	DET
fsr-3891	107	4	findings	finding	NOUN
fsr-3891	107	5	must	must	AUX
fsr-3891	107	6	be	be	AUX
fsr-3891	107	7	interpreted	interpret	VERB
fsr-3891	107	8	with	with	ADP
fsr-3891	107	9	some	some	DET
fsr-3891	107	10	caution	caution	NOUN
fsr-3891	107	11	.	.	PUNCT
fsr-3891	108	1	respondents	respondent	NOUN
fsr-3891	108	2	may	may	AUX
fsr-3891	108	3	have	have	AUX
fsr-3891	108	4	had	have	VERB
fsr-3891	108	5	a	a	DET
fsr-3891	108	6	difficult	difficult	ADJ
fsr-3891	108	7	time	time	NOUN
fsr-3891	108	8	isolating	isolate	VERB
fsr-3891	108	9	the	the	DET
fsr-3891	108	10	effects	effect	NOUN
fsr-3891	108	11	of	of	ADP
fsr-3891	108	12	affinity	affinity	NOUN
fsr-3891	108	13	participation	participation	NOUN
fsr-3891	108	14	on	on	ADP
fsr-3891	108	15	firm	firm	ADJ
fsr-3891	108	16	performance	performance	NOUN
fsr-3891	108	17	.	.	PUNCT
fsr-3891	109	1	the	the	DET
fsr-3891	109	2	potential	potential	ADJ
fsr-3891	109	3	positive	positive	ADJ
fsr-3891	109	4	and	and	CCONJ
fsr-3891	109	5	negative	negative	ADJ
fsr-3891	109	6	impact	impact	NOUN
fsr-3891	109	7	of	of	ADP
fsr-3891	109	8	affinity	affinity	NOUN
fsr-3891	109	9	on	on	ADP
fsr-3891	109	10	the	the	DET
fsr-3891	109	11	industry	industry	NOUN
fsr-3891	109	12	and	and	CCONJ
fsr-3891	109	13	on	on	ADP
fsr-3891	109	14	profitability	profitability	NOUN
fsr-3891	109	15	is	be	AUX
fsr-3891	109	16	further	far	ADV
fsr-3891	109	17	highlighted	highlight	VERB
fsr-3891	109	18	in	in	ADP
fsr-3891	109	19	berger	berger	PROPN
fsr-3891	109	20	(	(	PUNCT
fsr-3891	109	21	1997	1997	NUM
fsr-3891	109	22	)	)	PUNCT
fsr-3891	109	23	.	.	PUNCT
fsr-3891	110	1	the	the	DET
fsr-3891	110	2	surveys	survey	NOUN
fsr-3891	110	3	also	also	ADV
fsr-3891	110	4	examine	examine	VERB
fsr-3891	110	5	potential	potential	ADJ
fsr-3891	110	6	consumer	consumer	NOUN
fsr-3891	110	7	benefits	benefit	NOUN
fsr-3891	110	8	of	of	ADP
fsr-3891	110	9	affinity	affinity	NOUN
fsr-3891	110	10	programs	program	NOUN
fsr-3891	110	11	.	.	PUNCT
fsr-3891	111	1	the	the	DET
fsr-3891	111	2	benefits	benefit	NOUN
fsr-3891	111	3	most	most	ADV
fsr-3891	111	4	often	often	ADV
fsr-3891	111	5	take	take	VERB
fsr-3891	111	6	the	the	DET
fsr-3891	111	7	form	form	NOUN
fsr-3891	111	8	of	of	ADP
fsr-3891	111	9	commission	commission	NOUN
fsr-3891	111	10	rebates	rebate	NOUN
fsr-3891	111	11	,	,	PUNCT
fsr-3891	111	12	special	special	ADJ
fsr-3891	111	13	mortgage	mortgage	NOUN
fsr-3891	111	14	financing	financing	NOUN
fsr-3891	111	15	packages	package	NOUN
fsr-3891	111	16	,	,	PUNCT
fsr-3891	111	17	free	free	ADJ
fsr-3891	111	18	goods	good	NOUN
fsr-3891	111	19	,	,	PUNCT
fsr-3891	111	20	and	and	CCONJ
fsr-3891	111	21	product	product	NOUN
fsr-3891	111	22	discounts	discount	NOUN
fsr-3891	111	23	.	.	PUNCT
fsr-3891	112	1	sellers	seller	NOUN
fsr-3891	112	2	seem	seem	VERB
fsr-3891	112	3	to	to	PART
fsr-3891	112	4	be	be	AUX
fsr-3891	112	5	the	the	DET
fsr-3891	112	6	principle	principle	ADJ
fsr-3891	112	7	beneficiaries	beneficiary	NOUN
fsr-3891	112	8	of	of	ADP
fsr-3891	112	9	commission	commission	NOUN
fsr-3891	112	10	reductions	reduction	NOUN
fsr-3891	112	11	,	,	PUNCT
fsr-3891	112	12	whereas	whereas	SCONJ
fsr-3891	112	13	buyers	buyer	NOUN
fsr-3891	112	14	most	most	ADV
fsr-3891	112	15	often	often	ADV
fsr-3891	112	16	received	receive	VERB
fsr-3891	112	17	financing	financing	NOUN
fsr-3891	112	18	inducements	inducement	NOUN
fsr-3891	112	19	.	.	PUNCT
fsr-3891	113	1	in	in	ADP
fsr-3891	113	2	1997	1997	NUM
fsr-3891	113	3	,	,	PUNCT
fsr-3891	113	4	76	76	NUM
fsr-3891	113	5	%	%	NOUN
fsr-3891	113	6	of	of	ADP
fsr-3891	113	7	the	the	DET
fsr-3891	113	8	affinity	affinity	NOUN
fsr-3891	113	9	respondents	respondent	NOUN
fsr-3891	113	10	indicated	indicate	VERB
fsr-3891	113	11	that	that	SCONJ
fsr-3891	113	12	they	they	PRON
fsr-3891	113	13	offered	offer	VERB
fsr-3891	113	14	sellers	seller	NOUN
fsr-3891	113	15	commission	commission	NOUN
fsr-3891	113	16	reductions	reduction	NOUN
fsr-3891	113	17	in	in	ADP
fsr-3891	113	18	the	the	DET
fsr-3891	113	19	form	form	NOUN
fsr-3891	113	20	of	of	ADP
fsr-3891	113	21	either	either	CCONJ
fsr-3891	113	22	a	a	DET
fsr-3891	113	23	percentage	percentage	NOUN
fsr-3891	113	24	discount	discount	NOUN
fsr-3891	113	25	(	(	PUNCT
fsr-3891	113	26	56	56	NUM
fsr-3891	113	27	%	%	NOUN
fsr-3891	113	28	)	)	PUNCT
fsr-3891	113	29	or	or	CCONJ
fsr-3891	113	30	a	a	DET
fsr-3891	113	31	fixed	fix	VERB
fsr-3891	113	32	dollar	dollar	NOUN
fsr-3891	113	33	discount	discount	NOUN
fsr-3891	113	34	(	(	PUNCT
fsr-3891	113	35	20	20	NUM
fsr-3891	113	36	%	%	NOUN
fsr-3891	113	37	)	)	PUNCT
fsr-3891	113	38	.	.	PUNCT
fsr-3891	114	1	some	some	PRON
fsr-3891	114	2	of	of	ADP
fsr-3891	114	3	these	these	DET
fsr-3891	114	4	firms	firm	NOUN
fsr-3891	114	5	187d	187d	NUM
fsr-3891	114	6	.	.	PUNCT
fsr-3891	115	1	lewis	lewis	PROPN
fsr-3891	115	2	et	et	PROPN
fsr-3891	115	3	al	al	PROPN
fsr-3891	115	4	.	.	PUNCT
fsr-3891	115	5	/	/	SYM
fsr-3891	115	6	financial	financial	ADJ
fsr-3891	115	7	services	service	NOUN
fsr-3891	115	8	review	review	VERB
fsr-3891	115	9	8	8	NUM
fsr-3891	115	10	(	(	PUNCT
fsr-3891	115	11	1999	1999	NUM
fsr-3891	115	12	)	)	PUNCT
fsr-3891	116	1	183–197	183–197	NUM
fsr-3891	116	2	offered	offer	VERB
fsr-3891	116	3	commission	commission	NOUN
fsr-3891	116	4	rebates	rebate	NOUN
fsr-3891	116	5	,	,	PUNCT
fsr-3891	116	6	although	although	SCONJ
fsr-3891	116	7	this	this	PRON
fsr-3891	116	8	was	be	AUX
fsr-3891	116	9	not	not	PART
fsr-3891	116	10	as	as	ADV
fsr-3891	116	11	common	common	ADJ
fsr-3891	116	12	as	as	ADP
fsr-3891	116	13	discounts	discount	NOUN
fsr-3891	116	14	.	.	PUNCT
fsr-3891	117	1	buyers	buyer	NOUN
fsr-3891	117	2	were	be	AUX
fsr-3891	117	3	also	also	ADV
fsr-3891	117	4	offered	offer	VERB
fsr-3891	117	5	commission	commission	NOUN
fsr-3891	117	6	reductions	reduction	NOUN
fsr-3891	117	7	,	,	PUNCT
fsr-3891	117	8	however	however	ADV
fsr-3891	117	9	,	,	PUNCT
fsr-3891	117	10	offers	offer	NOUN
fsr-3891	117	11	of	of	ADP
fsr-3891	117	12	special	special	ADJ
fsr-3891	117	13	services	service	NOUN
fsr-3891	117	14	or	or	CCONJ
fsr-3891	117	15	goods	good	NOUN
fsr-3891	117	16	were	be	AUX
fsr-3891	117	17	far	far	ADV
fsr-3891	117	18	more	more	ADV
fsr-3891	117	19	common	common	ADJ
fsr-3891	117	20	.	.	PUNCT
fsr-3891	118	1	in	in	ADP
fsr-3891	118	2	general	general	ADJ
fsr-3891	118	3	,	,	PUNCT
fsr-3891	118	4	the	the	DET
fsr-3891	118	5	percentage	percentage	NOUN
fsr-3891	118	6	of	of	ADP
fsr-3891	118	7	respondents	respondent	NOUN
fsr-3891	118	8	offering	offer	VERB
fsr-3891	118	9	benefits	benefit	NOUN
fsr-3891	118	10	has	have	AUX
fsr-3891	118	11	increased	increase	VERB
fsr-3891	118	12	between	between	ADP
fsr-3891	118	13	1995	1995	NUM
fsr-3891	118	14	and	and	CCONJ
fsr-3891	118	15	1997	1997	NUM
fsr-3891	118	16	.	.	PUNCT
fsr-3891	119	1	3	3	X
fsr-3891	119	2	.	.	X
fsr-3891	119	3	financial	financial	ADJ
fsr-3891	119	4	data	datum	NOUN
fsr-3891	119	5	and	and	CCONJ
fsr-3891	119	6	analysis	analysis	NOUN
fsr-3891	119	7	as	as	SCONJ
fsr-3891	119	8	stated	state	VERB
fsr-3891	119	9	previously	previously	ADV
fsr-3891	119	10	,	,	PUNCT
fsr-3891	119	11	to	to	PART
fsr-3891	119	12	determine	determine	VERB
fsr-3891	119	13	the	the	DET
fsr-3891	119	14	actual	actual	ADJ
fsr-3891	119	15	impact	impact	NOUN
fsr-3891	119	16	on	on	ADP
fsr-3891	119	17	firm	firm	ADJ
fsr-3891	119	18	performance	performance	NOUN
fsr-3891	119	19	,	,	PUNCT
fsr-3891	119	20	we	we	PRON
fsr-3891	119	21	need	need	VERB
fsr-3891	119	22	to	to	PART
fsr-3891	119	23	link	link	VERB
fsr-3891	119	24	affinity	affinity	NOUN
fsr-3891	119	25	affiliation	affiliation	NOUN
fsr-3891	119	26	with	with	ADP
fsr-3891	119	27	actual	actual	ADJ
fsr-3891	119	28	brokerage	brokerage	NOUN
fsr-3891	119	29	financial	financial	ADJ
fsr-3891	119	30	figures	figure	NOUN
fsr-3891	119	31	and	and	CCONJ
fsr-3891	119	32	analyze	analyze	VERB
fsr-3891	119	33	those	those	DET
fsr-3891	119	34	numbers	number	NOUN
fsr-3891	119	35	to	to	PART
fsr-3891	119	36	determine	determine	VERB
fsr-3891	119	37	the	the	DET
fsr-3891	119	38	implications	implication	NOUN
fsr-3891	119	39	of	of	ADP
fsr-3891	119	40	affinity	affinity	NOUN
fsr-3891	119	41	relationships	relationship	NOUN
fsr-3891	119	42	on	on	ADP
fsr-3891	119	43	performance	performance	NOUN
fsr-3891	119	44	.	.	PUNCT
fsr-3891	120	1	the	the	DET
fsr-3891	120	2	financial	financial	ADJ
fsr-3891	120	3	data	datum	NOUN
fsr-3891	120	4	comes	come	VERB
fsr-3891	120	5	from	from	ADP
fsr-3891	120	6	another	another	DET
fsr-3891	120	7	survey	survey	NOUN
fsr-3891	120	8	by	by	ADP
fsr-3891	120	9	the	the	DET
fsr-3891	120	10	nar	nar	NOUN
fsr-3891	120	11	(	(	PUNCT
fsr-3891	120	12	nar	nar	NOUN
fsr-3891	120	13	,	,	PUNCT
fsr-3891	120	14	1998	1998	NUM
fsr-3891	120	15	)	)	PUNCT
fsr-3891	120	16	.	.	PUNCT
fsr-3891	121	1	this	this	DET
fsr-3891	121	2	survey	survey	NOUN
fsr-3891	121	3	contains	contain	VERB
fsr-3891	121	4	1996	1996	NUM
fsr-3891	121	5	income	income	NOUN
fsr-3891	121	6	and	and	CCONJ
fsr-3891	121	7	expenses	expense	NOUN
fsr-3891	121	8	data	datum	NOUN
fsr-3891	121	9	.	.	PUNCT
fsr-3891	122	1	professionals	professional	NOUN
fsr-3891	122	2	who	who	PRON
fsr-3891	122	3	are	be	AUX
fsr-3891	122	4	certified	certify	VERB
fsr-3891	122	5	real	real	ADJ
fsr-3891	122	6	estate	estate	NOUN
fsr-3891	122	7	brokerage	brokerage	NOUN
fsr-3891	122	8	manager	manager	NOUN
fsr-3891	122	9	designees	designee	NOUN
fsr-3891	122	10	make	make	VERB
fsr-3891	122	11	up	up	ADP
fsr-3891	122	12	half	half	NOUN
fsr-3891	122	13	of	of	ADP
fsr-3891	122	14	the	the	DET
fsr-3891	122	15	sample	sample	NOUN
fsr-3891	122	16	with	with	ADP
fsr-3891	122	17	the	the	DET
fsr-3891	122	18	remainder	remainder	NOUN
fsr-3891	122	19	of	of	ADP
fsr-3891	122	20	the	the	DET
fsr-3891	122	21	responses	response	NOUN
fsr-3891	122	22	coming	come	VERB
fsr-3891	122	23	from	from	ADP
fsr-3891	122	24	a	a	DET
fsr-3891	122	25	random	random	ADJ
fsr-3891	122	26	sample	sample	NOUN
fsr-3891	122	27	of	of	ADP
fsr-3891	122	28	real	real	ADJ
fsr-3891	122	29	estate	estate	NOUN
fsr-3891	122	30	brokerage	brokerage	NOUN
fsr-3891	122	31	firms	firm	NOUN
fsr-3891	122	32	that	that	PRON
fsr-3891	122	33	are	be	AUX
fsr-3891	122	34	members	member	NOUN
fsr-3891	122	35	of	of	ADP
fsr-3891	122	36	the	the	DET
fsr-3891	122	37	nar	nar	NOUN
fsr-3891	122	38	.	.	PUNCT
fsr-3891	123	1	the	the	DET
fsr-3891	123	2	information	information	NOUN
fsr-3891	123	3	includes	include	VERB
fsr-3891	123	4	the	the	DET
fsr-3891	123	5	number	number	NOUN
fsr-3891	123	6	of	of	ADP
fsr-3891	123	7	real	real	ADJ
fsr-3891	123	8	estate	estate	NOUN
fsr-3891	123	9	listings	listing	NOUN
fsr-3891	123	10	and	and	CCONJ
fsr-3891	123	11	sales	sale	NOUN
fsr-3891	123	12	by	by	ADP
fsr-3891	123	13	each	each	DET
fsr-3891	123	14	firm	firm	NOUN
fsr-3891	123	15	,	,	PUNCT
fsr-3891	123	16	net	net	ADJ
fsr-3891	123	17	income	income	NOUN
fsr-3891	123	18	,	,	PUNCT
fsr-3891	123	19	and	and	CCONJ
fsr-3891	123	20	the	the	DET
fsr-3891	123	21	firm	firm	NOUN
fsr-3891	123	22	’s	’s	PART
fsr-3891	123	23	cost	cost	NOUN
fsr-3891	123	24	of	of	ADP
fsr-3891	123	25	listing	list	VERB
fsr-3891	123	26	and	and	CCONJ
fsr-3891	123	27	selling	sell	VERB
fsr-3891	123	28	residential	residential	ADJ
fsr-3891	123	29	real	real	ADJ
fsr-3891	123	30	estate	estate	NOUN
fsr-3891	123	31	.	.	PUNCT
fsr-3891	124	1	additionally	additionally	ADV
fsr-3891	124	2	,	,	PUNCT
fsr-3891	124	3	for	for	ADP
fsr-3891	124	4	the	the	DET
fsr-3891	124	5	first	first	ADJ
fsr-3891	124	6	time	time	NOUN
fsr-3891	124	7	,	,	PUNCT
fsr-3891	124	8	the	the	DET
fsr-3891	124	9	survey	survey	NOUN
fsr-3891	124	10	contains	contain	VERB
fsr-3891	124	11	a	a	DET
fsr-3891	124	12	variable	variable	NOUN
fsr-3891	124	13	indicating	indicate	VERB
fsr-3891	124	14	whether	whether	SCONJ
fsr-3891	124	15	the	the	DET
fsr-3891	124	16	firm	firm	NOUN
fsr-3891	124	17	participates	participate	VERB
fsr-3891	124	18	in	in	ADP
fsr-3891	124	19	affinity	affinity	NOUN
fsr-3891	124	20	programs	program	NOUN
fsr-3891	124	21	and	and	CCONJ
fsr-3891	124	22	the	the	DET
fsr-3891	124	23	corresponding	corresponding	ADJ
fsr-3891	124	24	costs	cost	NOUN
fsr-3891	124	25	associated	associate	VERB
fsr-3891	124	26	with	with	ADP
fsr-3891	124	27	participation	participation	NOUN
fsr-3891	124	28	.	.	PUNCT
fsr-3891	125	1	following	follow	VERB
fsr-3891	125	2	other	other	ADJ
fsr-3891	125	3	studies	study	NOUN
fsr-3891	125	4	(	(	PUNCT
fsr-3891	125	5	zumpano	zumpano	NOUN
fsr-3891	125	6	,	,	PUNCT
fsr-3891	125	7	elder	elder	NOUN
fsr-3891	125	8	,	,	PUNCT
fsr-3891	125	9	and	and	CCONJ
fsr-3891	125	10	crellin	crellin	PROPN
fsr-3891	125	11	,	,	PUNCT
fsr-3891	125	12	1993	1993	NUM
fsr-3891	125	13	;	;	PUNCT
fsr-3891	125	14	zumpano	zumpano	PROPN
fsr-3891	125	15	and	and	CCONJ
fsr-3891	125	16	elder	elder	NOUN
fsr-3891	125	17	,	,	PUNCT
fsr-3891	125	18	1994	1994	NUM
fsr-3891	125	19	;	;	PUNCT
fsr-3891	125	20	anderson	anderson	PROPN
fsr-3891	125	21	,	,	PUNCT
fsr-3891	125	22	fok	fok	PROPN
fsr-3891	125	23	,	,	PUNCT
fsr-3891	125	24	zumpano	zumpano	NOUN
fsr-3891	125	25	,	,	PUNCT
fsr-3891	125	26	and	and	CCONJ
fsr-3891	125	27	elder	elder	NOUN
fsr-3891	125	28	,	,	PUNCT
fsr-3891	125	29	1998	1998	NUM
fsr-3891	125	30	;	;	PUNCT
fsr-3891	125	31	anderson	anderson	PROPN
fsr-3891	125	32	,	,	PUNCT
fsr-3891	125	33	lewis	lewis	PROPN
fsr-3891	125	34	,	,	PUNCT
fsr-3891	125	35	and	and	CCONJ
fsr-3891	125	36	zumpano	zumpano	PROPN
fsr-3891	125	37	,	,	PUNCT
fsr-3891	125	38	2000a	2000a	NUM
fsr-3891	125	39	;	;	PUNCT
fsr-3891	125	40	b	b	X
fsr-3891	125	41	;	;	PUNCT
fsr-3891	125	42	and	and	CCONJ
fsr-3891	125	43	lewis	lewis	PROPN
fsr-3891	125	44	and	and	CCONJ
fsr-3891	125	45	anderson	anderson	PROPN
fsr-3891	125	46	,	,	PUNCT
fsr-3891	125	47	1999	1999	NUM
fsr-3891	125	48	)	)	PUNCT
fsr-3891	125	49	that	that	PRON
fsr-3891	125	50	use	use	VERB
fsr-3891	125	51	a	a	DET
fsr-3891	125	52	similar	similar	ADJ
fsr-3891	125	53	data	datum	NOUN
fsr-3891	125	54	source	source	NOUN
fsr-3891	125	55	we	we	PRON
fsr-3891	125	56	include	include	VERB
fsr-3891	125	57	only	only	ADJ
fsr-3891	125	58	firms	firm	NOUN
fsr-3891	125	59	who	who	PRON
fsr-3891	125	60	obtain	obtain	VERB
fsr-3891	125	61	at	at	ADV
fsr-3891	125	62	least	least	ADV
fsr-3891	125	63	75	75	NUM
fsr-3891	125	64	%	%	NOUN
fsr-3891	125	65	of	of	ADP
fsr-3891	125	66	their	their	PRON
fsr-3891	125	67	revenues	revenue	NOUN
fsr-3891	125	68	from	from	ADP
fsr-3891	125	69	residential	residential	ADJ
fsr-3891	125	70	transactions	transaction	NOUN
fsr-3891	125	71	.	.	PUNCT
fsr-3891	126	1	the	the	DET
fsr-3891	126	2	final	final	ADJ
fsr-3891	126	3	data	datum	NOUN
fsr-3891	126	4	set	set	VERB
fsr-3891	126	5	is	be	AUX
fsr-3891	126	6	made	make	VERB
fsr-3891	126	7	up	up	ADP
fsr-3891	126	8	of	of	ADP
fsr-3891	126	9	176	176	NUM
fsr-3891	126	10	firms	firm	NOUN
fsr-3891	126	11	,	,	PUNCT
fsr-3891	126	12	92	92	NUM
fsr-3891	126	13	of	of	ADP
fsr-3891	126	14	which	which	PRON
fsr-3891	126	15	are	be	AUX
fsr-3891	126	16	affinity	affinity	NOUN
fsr-3891	126	17	participants	participant	NOUN
fsr-3891	126	18	and	and	CCONJ
fsr-3891	126	19	85	85	NUM
fsr-3891	126	20	nonaffiliated	nonaffiliate	VERB
fsr-3891	126	21	firms	firm	NOUN
fsr-3891	126	22	.	.	PUNCT
fsr-3891	127	1	the	the	DET
fsr-3891	127	2	nar	nar	NOUN
fsr-3891	127	3	again	again	ADV
fsr-3891	127	4	denotes	denote	VERB
fsr-3891	127	5	the	the	DET
fsr-3891	127	6	sample	sample	NOUN
fsr-3891	127	7	as	as	ADP
fsr-3891	127	8	reliable	reliable	ADJ
fsr-3891	127	9	and	and	CCONJ
fsr-3891	127	10	representative	representative	NOUN
fsr-3891	127	11	of	of	ADP
fsr-3891	127	12	the	the	DET
fsr-3891	127	13	true	true	ADJ
fsr-3891	127	14	population	population	NOUN
fsr-3891	127	15	of	of	ADP
fsr-3891	127	16	real	real	ADJ
fsr-3891	127	17	estate	estate	NOUN
fsr-3891	127	18	brokerage	brokerage	NOUN
fsr-3891	127	19	firms	firm	NOUN
fsr-3891	127	20	even	even	ADV
fsr-3891	127	21	though	though	SCONJ
fsr-3891	127	22	the	the	DET
fsr-3891	127	23	overall	overall	ADJ
fsr-3891	127	24	survey	survey	NOUN
fsr-3891	127	25	has	have	VERB
fsr-3891	127	26	a	a	DET
fsr-3891	127	27	low	low	ADJ
fsr-3891	127	28	response	response	NOUN
fsr-3891	127	29	rate	rate	NOUN
fsr-3891	127	30	at	at	ADP
fsr-3891	127	31	just	just	ADV
fsr-3891	127	32	over	over	ADP
fsr-3891	127	33	3	3	NUM
fsr-3891	127	34	%	%	NOUN
fsr-3891	127	35	.	.	PUNCT
fsr-3891	128	1	to	to	ADP
fsr-3891	128	2	the	the	DET
fsr-3891	128	3	best	good	ADJ
fsr-3891	128	4	of	of	ADP
fsr-3891	128	5	our	our	PRON
fsr-3891	128	6	knowledge	knowledge	NOUN
fsr-3891	128	7	,	,	PUNCT
fsr-3891	128	8	this	this	DET
fsr-3891	128	9	sample	sample	NOUN
fsr-3891	128	10	does	do	AUX
fsr-3891	128	11	represent	represent	VERB
fsr-3891	128	12	the	the	DET
fsr-3891	128	13	only	only	ADJ
fsr-3891	128	14	national	national	ADJ
fsr-3891	128	15	data	datum	NOUN
fsr-3891	128	16	set	set	VERB
fsr-3891	128	17	that	that	PRON
fsr-3891	128	18	provides	provide	VERB
fsr-3891	128	19	income	income	NOUN
fsr-3891	128	20	and	and	CCONJ
fsr-3891	128	21	expense	expense	NOUN
fsr-3891	128	22	figures	figure	NOUN
fsr-3891	128	23	for	for	ADP
fsr-3891	128	24	real	real	ADJ
fsr-3891	128	25	estate	estate	NOUN
fsr-3891	128	26	brokerage	brokerage	NOUN
fsr-3891	128	27	firms	firm	NOUN
fsr-3891	128	28	,	,	PUNCT
fsr-3891	128	29	thus	thus	ADV
fsr-3891	128	30	providing	provide	VERB
fsr-3891	128	31	us	we	PRON
fsr-3891	128	32	with	with	ADP
fsr-3891	128	33	the	the	DET
fsr-3891	128	34	best	good	ADJ
fsr-3891	128	35	opportunity	opportunity	NOUN
fsr-3891	128	36	to	to	PART
fsr-3891	128	37	glean	glean	VERB
fsr-3891	128	38	insights	insight	NOUN
fsr-3891	128	39	into	into	ADP
fsr-3891	128	40	the	the	DET
fsr-3891	128	41	affinity	affinity	NOUN
fsr-3891	128	42	issue	issue	NOUN
fsr-3891	128	43	on	on	ADP
fsr-3891	128	44	a	a	DET
fsr-3891	128	45	nationwide	nationwide	ADJ
fsr-3891	128	46	basis	basis	NOUN
fsr-3891	128	47	.	.	PUNCT
fsr-3891	129	1	nevertheless	nevertheless	ADV
fsr-3891	129	2	,	,	PUNCT
fsr-3891	129	3	with	with	ADP
fsr-3891	129	4	the	the	DET
fsr-3891	129	5	relatively	relatively	ADV
fsr-3891	129	6	small	small	ADJ
fsr-3891	129	7	sample	sample	NOUN
fsr-3891	129	8	size	size	NOUN
fsr-3891	129	9	and	and	CCONJ
fsr-3891	129	10	response	response	NOUN
fsr-3891	129	11	rate	rate	NOUN
fsr-3891	129	12	caution	caution	NOUN
fsr-3891	129	13	must	must	AUX
fsr-3891	129	14	be	be	AUX
fsr-3891	129	15	exercised	exercise	VERB
fsr-3891	129	16	when	when	SCONJ
fsr-3891	129	17	examining	examine	VERB
fsr-3891	129	18	and	and	CCONJ
fsr-3891	129	19	interpreting	interpret	VERB
fsr-3891	129	20	the	the	DET
fsr-3891	129	21	results	result	NOUN
fsr-3891	129	22	.	.	PUNCT
fsr-3891	130	1	we	we	PRON
fsr-3891	130	2	deem	deem	VERB
fsr-3891	130	3	the	the	DET
fsr-3891	130	4	results	result	NOUN
fsr-3891	130	5	that	that	PRON
fsr-3891	130	6	follow	follow	VERB
fsr-3891	130	7	as	as	ADP
fsr-3891	130	8	reliable	reliable	ADJ
fsr-3891	130	9	for	for	ADP
fsr-3891	130	10	the	the	DET
fsr-3891	130	11	sample	sample	NOUN
fsr-3891	130	12	set	set	NOUN
fsr-3891	130	13	,	,	PUNCT
fsr-3891	130	14	but	but	CCONJ
fsr-3891	130	15	defer	defer	VERB
fsr-3891	130	16	any	any	DET
fsr-3891	130	17	generalizations	generalization	NOUN
fsr-3891	130	18	for	for	ADP
fsr-3891	130	19	the	the	DET
fsr-3891	130	20	population	population	NOUN
fsr-3891	130	21	of	of	ADP
fsr-3891	130	22	all	all	DET
fsr-3891	130	23	brokerage	brokerage	NOUN
fsr-3891	130	24	firms	firm	NOUN
fsr-3891	130	25	for	for	ADP
fsr-3891	130	26	future	future	ADJ
fsr-3891	130	27	work	work	NOUN
fsr-3891	130	28	with	with	ADP
fsr-3891	130	29	a	a	DET
fsr-3891	130	30	larger	large	ADJ
fsr-3891	130	31	data	datum	NOUN
fsr-3891	130	32	set	set	VERB
fsr-3891	130	33	.	.	PUNCT
fsr-3891	131	1	in	in	ADP
fsr-3891	131	2	table	table	NOUN
fsr-3891	131	3	1	1	NUM
fsr-3891	131	4	(	(	PUNCT
fsr-3891	131	5	panel	panel	NOUN
fsr-3891	131	6	a	a	X
fsr-3891	131	7	)	)	PUNCT
fsr-3891	131	8	we	we	PRON
fsr-3891	131	9	examine	examine	VERB
fsr-3891	131	10	the	the	DET
fsr-3891	131	11	firm	firm	ADJ
fsr-3891	131	12	characteristics	characteristic	NOUN
fsr-3891	131	13	of	of	ADP
fsr-3891	131	14	both	both	DET
fsr-3891	131	15	sample	sample	NOUN
fsr-3891	131	16	group	group	NOUN
fsr-3891	131	17	types	type	NOUN
fsr-3891	131	18	.	.	PUNCT
fsr-3891	132	1	affinity	affinity	NOUN
fsr-3891	132	2	participants	participant	NOUN
fsr-3891	132	3	are	be	AUX
fsr-3891	132	4	larger	large	ADJ
fsr-3891	132	5	as	as	SCONJ
fsr-3891	132	6	measured	measure	VERB
fsr-3891	132	7	by	by	ADP
fsr-3891	132	8	the	the	DET
fsr-3891	132	9	number	number	NOUN
fsr-3891	132	10	of	of	ADP
fsr-3891	132	11	employees	employee	NOUN
fsr-3891	132	12	.	.	PUNCT
fsr-3891	133	1	affinity	affinity	NOUN
fsr-3891	133	2	firms	firm	NOUN
fsr-3891	133	3	employ	employ	VERB
fsr-3891	133	4	on	on	ADP
fsr-3891	133	5	average	average	ADJ
fsr-3891	133	6	79	79	NUM
fsr-3891	133	7	salespersons	salesperson	NOUN
fsr-3891	133	8	and	and	CCONJ
fsr-3891	133	9	almost	almost	ADV
fsr-3891	133	10	13	13	NUM
fsr-3891	133	11	non	non	ADJ
fsr-3891	133	12	-	-	ADJ
fsr-3891	133	13	sales	sales	ADJ
fsr-3891	133	14	persons	person	NOUN
fsr-3891	133	15	.	.	PUNCT
fsr-3891	134	1	in	in	ADP
fsr-3891	134	2	contrast	contrast	NOUN
fsr-3891	134	3	,	,	PUNCT
fsr-3891	134	4	the	the	DET
fsr-3891	134	5	non	non	ADJ
fsr-3891	134	6	-	-	ADJ
fsr-3891	134	7	affinity	affinity	ADJ
fsr-3891	134	8	firms	firm	NOUN
fsr-3891	134	9	in	in	ADP
fsr-3891	134	10	the	the	DET
fsr-3891	134	11	1996	1996	NUM
fsr-3891	134	12	sample	sample	NOUN
fsr-3891	134	13	employ	employ	VERB
fsr-3891	134	14	only	only	ADV
fsr-3891	134	15	22	22	NUM
fsr-3891	134	16	salespersons	salesperson	NOUN
fsr-3891	134	17	and	and	CCONJ
fsr-3891	134	18	had	have	VERB
fsr-3891	134	19	just	just	ADV
fsr-3891	134	20	fewer	few	ADJ
fsr-3891	134	21	than	than	ADP
fsr-3891	134	22	three	three	NUM
fsr-3891	134	23	and	and	CCONJ
fsr-3891	134	24	a	a	DET
fsr-3891	134	25	half	half	NOUN
fsr-3891	134	26	non	non	ADJ
fsr-3891	134	27	-	-	ADJ
fsr-3891	134	28	sales	sales	ADJ
fsr-3891	134	29	employees	employee	NOUN
fsr-3891	134	30	.	.	PUNCT
fsr-3891	135	1	affinity	affinity	NOUN
fsr-3891	135	2	affiliates	affiliate	NOUN
fsr-3891	135	3	also	also	ADV
fsr-3891	135	4	tend	tend	VERB
fsr-3891	135	5	to	to	PART
fsr-3891	135	6	have	have	VERB
fsr-3891	135	7	a	a	DET
fsr-3891	135	8	larger	large	ADJ
fsr-3891	135	9	number	number	NOUN
fsr-3891	135	10	of	of	ADP
fsr-3891	135	11	offices	office	NOUN
fsr-3891	135	12	than	than	ADP
fsr-3891	135	13	their	their	PRON
fsr-3891	135	14	non	non	ADJ
fsr-3891	135	15	-	-	ADJ
fsr-3891	135	16	affinity	affinity	ADJ
fsr-3891	135	17	counterparts	counterpart	NOUN
fsr-3891	135	18	.	.	PUNCT
fsr-3891	136	1	affinity	affinity	NOUN
fsr-3891	136	2	firms	firm	NOUN
fsr-3891	136	3	operated	operate	VERB
fsr-3891	136	4	,	,	PUNCT
fsr-3891	136	5	on	on	ADP
fsr-3891	136	6	average	average	ADJ
fsr-3891	136	7	,	,	PUNCT
fsr-3891	136	8	four	four	NUM
fsr-3891	136	9	more	more	ADJ
fsr-3891	136	10	offices	office	NOUN
fsr-3891	136	11	than	than	SCONJ
fsr-3891	136	12	did	do	VERB
fsr-3891	136	13	non	non	ADJ
fsr-3891	136	14	-	-	ADJ
fsr-3891	136	15	affinity	affinity	ADJ
fsr-3891	136	16	brokers	broker	NOUN
fsr-3891	136	17	.	.	PUNCT
fsr-3891	137	1	as	as	ADP
fsr-3891	137	2	with	with	ADP
fsr-3891	137	3	the	the	DET
fsr-3891	137	4	prior	prior	ADJ
fsr-3891	137	5	surveys	survey	NOUN
fsr-3891	137	6	,	,	PUNCT
fsr-3891	137	7	we	we	PRON
fsr-3891	137	8	find	find	VERB
fsr-3891	137	9	that	that	SCONJ
fsr-3891	137	10	affinity	affinity	NOUN
fsr-3891	137	11	firms	firm	NOUN
fsr-3891	137	12	are	be	AUX
fsr-3891	137	13	older	old	ADJ
fsr-3891	137	14	(	(	PUNCT
fsr-3891	137	15	only	only	ADV
fsr-3891	137	16	significantly	significantly	ADV
fsr-3891	137	17	older	old	ADJ
fsr-3891	137	18	at	at	ADP
fsr-3891	137	19	the	the	DET
fsr-3891	137	20	0.10	0.10	NUM
fsr-3891	137	21	level	level	NOUN
fsr-3891	137	22	)	)	PUNCT
fsr-3891	137	23	,	,	PUNCT
fsr-3891	137	24	more	more	ADV
fsr-3891	137	25	likely	likely	ADJ
fsr-3891	137	26	to	to	PART
fsr-3891	137	27	be	be	AUX
fsr-3891	137	28	associated	associate	VERB
fsr-3891	137	29	with	with	ADP
fsr-3891	137	30	a	a	DET
fsr-3891	137	31	franchise	franchise	NOUN
fsr-3891	137	32	and	and	CCONJ
fsr-3891	137	33	have	have	VERB
fsr-3891	137	34	slightly	slightly	ADV
fsr-3891	137	35	more	more	ADJ
fsr-3891	137	36	mls	mls	PROPN
fsr-3891	137	37	memberships	membership	NOUN
fsr-3891	137	38	.	.	PUNCT
fsr-3891	138	1	interestingly	interestingly	ADV
fsr-3891	138	2	,	,	PUNCT
fsr-3891	138	3	the	the	DET
fsr-3891	138	4	salespersons	salesperson	NOUN
fsr-3891	138	5	in	in	ADP
fsr-3891	138	6	non	non	ADJ
fsr-3891	138	7	-	-	ADJ
fsr-3891	138	8	affinity	affinity	ADJ
fsr-3891	138	9	firms	firm	NOUN
fsr-3891	138	10	produce	produce	VERB
fsr-3891	138	11	more	more	ADJ
fsr-3891	138	12	revenue	revenue	NOUN
fsr-3891	138	13	transactions	transaction	NOUN
fsr-3891	138	14	on	on	ADP
fsr-3891	138	15	a	a	DET
fsr-3891	138	16	full	full	ADJ
fsr-3891	138	17	-	-	PUNCT
fsr-3891	138	18	time	time	NOUN
fsr-3891	138	19	equivalent	equivalent	ADJ
fsr-3891	138	20	salesperson	salesperson	PROPN
fsr-3891	138	21	basis	basis	NOUN
fsr-3891	138	22	,	,	PUNCT
fsr-3891	138	23	indicating	indicate	VERB
fsr-3891	138	24	more	more	ADJ
fsr-3891	138	25	productive	productive	ADJ
fsr-3891	138	26	employees	employee	NOUN
fsr-3891	138	27	.	.	PUNCT
fsr-3891	139	1	however	however	ADV
fsr-3891	139	2	,	,	PUNCT
fsr-3891	139	3	the	the	DET
fsr-3891	139	4	difference	difference	NOUN
fsr-3891	139	5	is	be	AUX
fsr-3891	139	6	not	not	PART
fsr-3891	139	7	statistically	statistically	ADV
fsr-3891	139	8	robust	robust	ADJ
fsr-3891	139	9	.	.	PUNCT
fsr-3891	140	1	in	in	ADP
fsr-3891	140	2	table	table	NOUN
fsr-3891	140	3	1(panel	1(panel	PROPN
fsr-3891	140	4	b	b	NOUN
fsr-3891	140	5	)	)	PUNCT
fsr-3891	140	6	,	,	PUNCT
fsr-3891	140	7	we	we	PRON
fsr-3891	140	8	examine	examine	VERB
fsr-3891	140	9	several	several	ADJ
fsr-3891	140	10	key	key	ADJ
fsr-3891	140	11	financial	financial	ADJ
fsr-3891	140	12	variables	variable	NOUN
fsr-3891	140	13	.	.	PUNCT
fsr-3891	141	1	noting	note	VERB
fsr-3891	141	2	the	the	DET
fsr-3891	141	3	size	size	NOUN
fsr-3891	141	4	differ188	differ188	PROPN
fsr-3891	141	5	d.	d.	PROPN
fsr-3891	141	6	lewis	lewis	PROPN
fsr-3891	141	7	et	et	PROPN
fsr-3891	141	8	al	al	PROPN
fsr-3891	141	9	.	.	PUNCT
fsr-3891	141	10	/	/	SYM
fsr-3891	141	11	financial	financial	ADJ
fsr-3891	141	12	services	service	NOUN
fsr-3891	141	13	review	review	VERB
fsr-3891	141	14	8	8	NUM
fsr-3891	141	15	(	(	PUNCT
fsr-3891	141	16	1999	1999	NUM
fsr-3891	141	17	)	)	PUNCT
fsr-3891	141	18	183–197	183–197	NUM
fsr-3891	141	19	ence	ence	NOUN
fsr-3891	141	20	in	in	ADP
fsr-3891	141	21	firms	firm	NOUN
fsr-3891	141	22	with	with	ADP
fsr-3891	141	23	respect	respect	NOUN
fsr-3891	141	24	to	to	ADP
fsr-3891	141	25	offices	office	NOUN
fsr-3891	141	26	and	and	CCONJ
fsr-3891	141	27	employees	employee	NOUN
fsr-3891	141	28	,	,	PUNCT
fsr-3891	141	29	we	we	PRON
fsr-3891	141	30	expect	expect	VERB
fsr-3891	141	31	and	and	CCONJ
fsr-3891	141	32	do	do	AUX
fsr-3891	141	33	find	find	VERB
fsr-3891	141	34	higher	high	ADJ
fsr-3891	141	35	levels	level	NOUN
fsr-3891	141	36	of	of	ADP
fsr-3891	141	37	listings	listing	NOUN
fsr-3891	141	38	,	,	PUNCT
fsr-3891	141	39	sales	sale	NOUN
fsr-3891	141	40	,	,	PUNCT
fsr-3891	141	41	total	total	ADJ
fsr-3891	141	42	revenue	revenue	NOUN
fsr-3891	141	43	transactions	transaction	NOUN
fsr-3891	141	44	,	,	PUNCT
fsr-3891	141	45	gross	gross	ADJ
fsr-3891	141	46	revenues	revenue	NOUN
fsr-3891	141	47	,	,	PUNCT
fsr-3891	141	48	and	and	CCONJ
fsr-3891	141	49	total	total	ADJ
fsr-3891	141	50	adjusted	adjusted	ADJ
fsr-3891	141	51	profits	profit	NOUN
fsr-3891	141	52	for	for	ADP
fsr-3891	141	53	affinity	affinity	NOUN
fsr-3891	141	54	firms	firm	NOUN
fsr-3891	141	55	relative	relative	ADJ
fsr-3891	141	56	to	to	ADP
fsr-3891	141	57	non	non	ADJ
fsr-3891	141	58	-	-	ADJ
fsr-3891	141	59	affinity	affinity	ADJ
fsr-3891	141	60	firms	firm	NOUN
fsr-3891	141	61	.	.	PUNCT
fsr-3891	142	1	total	total	ADJ
fsr-3891	142	2	adjusted	adjust	VERB
fsr-3891	142	3	profits	profit	NOUN
fsr-3891	142	4	are	be	AUX
fsr-3891	142	5	simply	simply	ADV
fsr-3891	142	6	the	the	DET
fsr-3891	142	7	firm	firm	NOUN
fsr-3891	142	8	’s	’s	PART
fsr-3891	142	9	net	net	ADJ
fsr-3891	142	10	profits	profit	NOUN
fsr-3891	142	11	plus	plus	CCONJ
fsr-3891	142	12	the	the	DET
fsr-3891	142	13	distributions	distribution	NOUN
fsr-3891	142	14	taken	take	VERB
fsr-3891	142	15	by	by	ADP
fsr-3891	142	16	the	the	DET
fsr-3891	142	17	owners	owner	NOUN
fsr-3891	142	18	.	.	PUNCT
fsr-3891	143	1	however	however	ADV
fsr-3891	143	2	,	,	PUNCT
fsr-3891	143	3	when	when	SCONJ
fsr-3891	143	4	controlling	control	VERB
fsr-3891	143	5	for	for	ADP
fsr-3891	143	6	size	size	NOUN
fsr-3891	143	7	effects	effect	NOUN
fsr-3891	143	8	by	by	ADP
fsr-3891	143	9	examining	examine	VERB
fsr-3891	143	10	revenues	revenue	NOUN
fsr-3891	143	11	and	and	CCONJ
fsr-3891	143	12	profits	profit	NOUN
fsr-3891	143	13	on	on	ADP
fsr-3891	143	14	a	a	DET
fsr-3891	143	15	per	per	X
fsr-3891	143	16	transaction	transaction	NOUN
fsr-3891	143	17	basis	basis	NOUN
fsr-3891	143	18	,	,	PUNCT
fsr-3891	143	19	differences	difference	NOUN
fsr-3891	143	20	in	in	ADP
fsr-3891	143	21	performance	performance	NOUN
fsr-3891	143	22	between	between	ADP
fsr-3891	143	23	the	the	DET
fsr-3891	143	24	two	two	NUM
fsr-3891	143	25	groups	group	NOUN
fsr-3891	143	26	disappear	disappear	VERB
fsr-3891	143	27	.	.	PUNCT
fsr-3891	144	1	in	in	ADP
fsr-3891	144	2	fact	fact	NOUN
fsr-3891	144	3	,	,	PUNCT
fsr-3891	144	4	profits	profit	NOUN
fsr-3891	144	5	per	per	ADP
fsr-3891	144	6	revenue	revenue	NOUN
fsr-3891	144	7	transaction	transaction	NOUN
fsr-3891	144	8	are	be	AUX
fsr-3891	144	9	actually	actually	ADV
fsr-3891	144	10	greater	great	ADJ
fsr-3891	144	11	for	for	ADP
fsr-3891	144	12	non	non	ADJ
fsr-3891	144	13	-	-	ADJ
fsr-3891	144	14	affinity	affinity	ADJ
fsr-3891	144	15	firms	firm	NOUN
fsr-3891	144	16	than	than	ADP
fsr-3891	144	17	their	their	PRON
fsr-3891	144	18	affinity	affinity	NOUN
fsr-3891	144	19	counterparts	counterpart	NOUN
fsr-3891	144	20	,	,	PUNCT
fsr-3891	144	21	although	although	SCONJ
fsr-3891	144	22	the	the	DET
fsr-3891	144	23	difference	difference	NOUN
fsr-3891	144	24	is	be	AUX
fsr-3891	144	25	not	not	PART
fsr-3891	144	26	statistically	statistically	ADV
fsr-3891	144	27	significant	significant	ADJ
fsr-3891	144	28	.	.	PUNCT
fsr-3891	145	1	finally	finally	ADV
fsr-3891	145	2	,	,	PUNCT
fsr-3891	145	3	no	no	DET
fsr-3891	145	4	statistical	statistical	ADJ
fsr-3891	145	5	difference	difference	NOUN
fsr-3891	145	6	exists	exist	VERB
fsr-3891	145	7	between	between	ADP
fsr-3891	145	8	the	the	DET
fsr-3891	145	9	percentage	percentage	NOUN
fsr-3891	145	10	of	of	ADP
fsr-3891	145	11	firms	firm	NOUN
fsr-3891	145	12	in	in	ADP
fsr-3891	145	13	1996	1996	NUM
fsr-3891	145	14	that	that	PRON
fsr-3891	145	15	experience	experience	VERB
fsr-3891	145	16	an	an	DET
fsr-3891	145	17	increase	increase	NOUN
fsr-3891	145	18	in	in	ADP
fsr-3891	145	19	profitability	profitability	NOUN
fsr-3891	145	20	.	.	PUNCT
fsr-3891	146	1	although	although	SCONJ
fsr-3891	146	2	not	not	PART
fsr-3891	146	3	a	a	DET
fsr-3891	146	4	test	test	NOUN
fsr-3891	146	5	of	of	ADP
fsr-3891	146	6	firm	firm	ADJ
fsr-3891	146	7	and/or	and/or	CCONJ
fsr-3891	146	8	market	market	NOUN
fsr-3891	146	9	operating	operating	NOUN
fsr-3891	146	10	efficiency	efficiency	NOUN
fsr-3891	146	11	,	,	PUNCT
fsr-3891	146	12	it	it	PRON
fsr-3891	146	13	seems	seem	VERB
fsr-3891	146	14	as	as	SCONJ
fsr-3891	146	15	if	if	SCONJ
fsr-3891	146	16	the	the	DET
fsr-3891	146	17	larger	large	ADJ
fsr-3891	146	18	sample	sample	NOUN
fsr-3891	146	19	affinity	affinity	NOUN
fsr-3891	146	20	firms	firm	NOUN
fsr-3891	146	21	are	be	AUX
fsr-3891	146	22	able	able	ADJ
fsr-3891	146	23	to	to	PART
fsr-3891	146	24	generate	generate	VERB
fsr-3891	146	25	large	large	ADJ
fsr-3891	146	26	output	output	NOUN
fsr-3891	146	27	numbers	number	NOUN
fsr-3891	146	28	,	,	PUNCT
fsr-3891	146	29	but	but	CCONJ
fsr-3891	146	30	unable	unable	ADJ
fsr-3891	146	31	to	to	PART
fsr-3891	146	32	translate	translate	VERB
fsr-3891	146	33	those	those	DET
fsr-3891	146	34	earnings	earning	NOUN
fsr-3891	146	35	into	into	ADP
fsr-3891	146	36	higher	high	ADJ
fsr-3891	146	37	profits	profit	NOUN
fsr-3891	146	38	.	.	PUNCT
fsr-3891	147	1	hence	hence	ADV
fsr-3891	147	2	,	,	PUNCT
fsr-3891	147	3	for	for	ADP
fsr-3891	147	4	this	this	DET
fsr-3891	147	5	sample	sample	NOUN
fsr-3891	147	6	set	set	NOUN
fsr-3891	147	7	,	,	PUNCT
fsr-3891	147	8	affinity	affinity	NOUN
fsr-3891	147	9	programs	program	NOUN
fsr-3891	147	10	may	may	AUX
fsr-3891	147	11	help	help	VERB
fsr-3891	147	12	firms	firm	NOUN
fsr-3891	147	13	grow	grow	VERB
fsr-3891	147	14	in	in	ADP
fsr-3891	147	15	size	size	NOUN
fsr-3891	147	16	and	and	CCONJ
fsr-3891	147	17	perhaps	perhaps	ADV
fsr-3891	147	18	gain	gain	VERB
fsr-3891	147	19	market	market	NOUN
fsr-3891	147	20	share	share	NOUN
fsr-3891	147	21	,	,	PUNCT
fsr-3891	147	22	but	but	CCONJ
fsr-3891	147	23	may	may	AUX
fsr-3891	147	24	actually	actually	ADV
fsr-3891	147	25	be	be	AUX
fsr-3891	147	26	reducing	reduce	VERB
fsr-3891	147	27	the	the	DET
fsr-3891	147	28	efficiency	efficiency	NOUN
fsr-3891	147	29	in	in	ADP
fsr-3891	147	30	which	which	PRON
fsr-3891	147	31	firms	firm	NOUN
fsr-3891	147	32	conduct	conduct	VERB
fsr-3891	147	33	business	business	NOUN
fsr-3891	147	34	.	.	PUNCT
fsr-3891	148	1	we	we	PRON
fsr-3891	148	2	highlight	highlight	VERB
fsr-3891	148	3	this	this	DET
fsr-3891	148	4	point	point	NOUN
fsr-3891	148	5	by	by	ADP
fsr-3891	148	6	noting	note	VERB
fsr-3891	148	7	that	that	SCONJ
fsr-3891	148	8	the	the	DET
fsr-3891	148	9	agents	agent	NOUN
fsr-3891	148	10	for	for	ADP
fsr-3891	148	11	non	non	ADJ
fsr-3891	148	12	-	-	ADJ
fsr-3891	148	13	affinity	affinity	ADJ
fsr-3891	148	14	firms	firm	NOUN
fsr-3891	148	15	actually	actually	ADV
fsr-3891	148	16	produce	produce	VERB
fsr-3891	148	17	more	more	ADJ
fsr-3891	148	18	revenue	revenue	NOUN
fsr-3891	148	19	transactions	transaction	NOUN
fsr-3891	148	20	than	than	ADP
fsr-3891	148	21	their	their	PRON
fsr-3891	148	22	affinity	affinity	NOUN
fsr-3891	148	23	salesperson	salesperson	NOUN
fsr-3891	148	24	counterparts	counterpart	NOUN
fsr-3891	148	25	.	.	PUNCT
fsr-3891	149	1	to	to	PART
fsr-3891	149	2	formally	formally	ADV
fsr-3891	149	3	test	test	VERB
fsr-3891	149	4	for	for	ADP
fsr-3891	149	5	x	x	NOUN
fsr-3891	149	6	-	-	NOUN
fsr-3891	149	7	efficiency	efficiency	NOUN
fsr-3891	149	8	difference	difference	NOUN
fsr-3891	149	9	in	in	ADP
fsr-3891	149	10	the	the	DET
fsr-3891	149	11	two	two	NUM
fsr-3891	149	12	groups	group	NOUN
fsr-3891	149	13	,	,	PUNCT
fsr-3891	149	14	we	we	PRON
fsr-3891	149	15	need	need	VERB
fsr-3891	149	16	to	to	PART
fsr-3891	149	17	understand	understand	VERB
fsr-3891	149	18	and	and	CCONJ
fsr-3891	149	19	define	define	VERB
fsr-3891	149	20	the	the	DET
fsr-3891	149	21	firm	firm	NOUN
fsr-3891	149	22	as	as	ADP
fsr-3891	149	23	a	a	DET
fsr-3891	149	24	production	production	NOUN
fsr-3891	149	25	unit	unit	NOUN
fsr-3891	149	26	.	.	PUNCT
fsr-3891	150	1	in	in	ADP
fsr-3891	150	2	general	general	ADJ
fsr-3891	150	3	,	,	PUNCT
fsr-3891	150	4	real	real	ADJ
fsr-3891	150	5	estate	estate	NOUN
fsr-3891	150	6	brokerage	brokerage	NOUN
fsr-3891	150	7	firms	firm	NOUN
fsr-3891	150	8	produce	produce	VERB
fsr-3891	150	9	revenue	revenue	NOUN
fsr-3891	150	10	transactions	transaction	NOUN
fsr-3891	150	11	(	(	PUNCT
fsr-3891	150	12	listings	listing	NOUN
fsr-3891	150	13	and	and	CCONJ
fsr-3891	150	14	sales	sale	NOUN
fsr-3891	150	15	)	)	PUNCT
fsr-3891	150	16	.	.	PUNCT
fsr-3891	151	1	to	to	PART
fsr-3891	151	2	be	be	AUX
fsr-3891	151	3	x	x	ADJ
fsr-3891	151	4	-	-	ADJ
fsr-3891	151	5	efficient	efficient	ADJ
fsr-3891	151	6	,	,	PUNCT
fsr-3891	151	7	the	the	DET
fsr-3891	151	8	firms	firm	NOUN
fsr-3891	151	9	must	must	AUX
fsr-3891	151	10	choose	choose	VERB
fsr-3891	151	11	the	the	DET
fsr-3891	151	12	optimal	optimal	ADJ
fsr-3891	151	13	table	table	NOUN
fsr-3891	151	14	1	1	NUM
fsr-3891	151	15	firm	firm	ADJ
fsr-3891	151	16	characteristics	characteristic	NOUN
fsr-3891	151	17	and	and	CCONJ
fsr-3891	151	18	financial	financial	ADJ
fsr-3891	151	19	performance	performance	NOUN
fsr-3891	151	20	panel	panel	NOUN
fsr-3891	151	21	a	a	NOUN
fsr-3891	151	22	:	:	PUNCT
fsr-3891	151	23	the	the	DET
fsr-3891	151	24	summary	summary	NOUN
fsr-3891	151	25	of	of	ADP
fsr-3891	151	26	firm	firm	ADJ
fsr-3891	151	27	characteristics	characteristic	NOUN
fsr-3891	151	28	:	:	PUNCT
fsr-3891	151	29	1996	1996	NUM
fsr-3891	151	30	nar	nar	NOUN
fsr-3891	151	31	income	income	NOUN
fsr-3891	151	32	and	and	CCONJ
fsr-3891	151	33	expense	expense	NOUN
fsr-3891	151	34	survey	survey	NOUN
fsr-3891	151	35	characteristic	characteristic	ADJ
fsr-3891	151	36	affinities	affinity	NOUN
fsr-3891	151	37	non	non	ADJ
fsr-3891	151	38	-	-	ADJ
fsr-3891	151	39	affinities	affinities	ADJ
fsr-3891	151	40	t	t	NOUN
fsr-3891	151	41	-	-	PUNCT
fsr-3891	151	42	statistic	statistic	NOUN
fsr-3891	151	43	number	number	NOUN
fsr-3891	151	44	of	of	ADP
fsr-3891	151	45	sales	sale	NOUN
fsr-3891	151	46	people	people	NOUN
fsr-3891	151	47	79.13	79.13	NUM
fsr-3891	151	48	22.24	22.24	NUM
fsr-3891	151	49	3.37	3.37	NUM
fsr-3891	151	50	*	*	NOUN
fsr-3891	151	51	number	number	NOUN
fsr-3891	151	52	on	on	ADP
fsr-3891	151	53	nonsales	nonsale	NOUN
fsr-3891	151	54	people	people	NOUN
fsr-3891	151	55	12.70	12.70	NUM
fsr-3891	151	56	3.44	3.44	NUM
fsr-3891	151	57	3.16	3.16	NUM
fsr-3891	151	58	*	*	NOUN
fsr-3891	151	59	number	number	NOUN
fsr-3891	151	60	of	of	ADP
fsr-3891	151	61	offices	office	NOUN
fsr-3891	151	62	5.32	5.32	NUM
fsr-3891	151	63	1.45	1.45	NUM
fsr-3891	151	64	2.52	2.52	NUM
fsr-3891	151	65	*	*	NOUN
fsr-3891	151	66	age	age	NOUN
fsr-3891	151	67	of	of	ADP
fsr-3891	151	68	the	the	DET
fsr-3891	151	69	firm	firm	NOUN
fsr-3891	151	70	21.24	21.24	NUM
fsr-3891	151	71	17.36	17.36	NUM
fsr-3891	151	72	1.67	1.67	NUM
fsr-3891	151	73	percent	percent	NOUN
fsr-3891	151	74	of	of	ADP
fsr-3891	151	75	firms	firm	NOUN
fsr-3891	151	76	franchised	franchise	VERB
fsr-3891	151	77	39	39	NUM
fsr-3891	151	78	%	%	NOUN
fsr-3891	151	79	24	24	NUM
fsr-3891	151	80	%	%	NOUN
fsr-3891	151	81	2.28	2.28	NUM
fsr-3891	151	82	*	*	NOUN
fsr-3891	151	83	number	number	NOUN
fsr-3891	151	84	of	of	ADP
fsr-3891	151	85	mls	mls	PROPN
fsr-3891	151	86	subscriptions	subscription	NOUN
fsr-3891	151	87	2.52	2.52	NUM
fsr-3891	151	88	2.17	2.17	NUM
fsr-3891	151	89	3.38	3.38	NUM
fsr-3891	151	90	*	*	PUNCT
fsr-3891	151	91	revenue	revenue	NOUN
fsr-3891	151	92	transaction	transaction	NOUN
fsr-3891	151	93	per	per	ADP
fsr-3891	151	94	salesperson	salesperson	NOUN
fsr-3891	151	95	per	per	ADP
fsr-3891	151	96	year	year	NOUN
fsr-3891	151	97	17.88	17.88	NUM
fsr-3891	151	98	22.39	22.39	NUM
fsr-3891	151	99	21.85	21.85	NUM
fsr-3891	151	100	panel	panel	NOUN
fsr-3891	151	101	b	b	NOUN
fsr-3891	151	102	:	:	PUNCT
fsr-3891	151	103	average	average	ADJ
fsr-3891	151	104	financial	financial	ADJ
fsr-3891	151	105	performance	performance	NOUN
fsr-3891	151	106	of	of	ADP
fsr-3891	151	107	affinity	affinity	NOUN
fsr-3891	151	108	affiliates	affiliate	NOUN
fsr-3891	151	109	compared	compare	VERB
fsr-3891	151	110	to	to	ADP
fsr-3891	151	111	non	non	ADJ
fsr-3891	151	112	-	-	ADJ
fsr-3891	151	113	affinity	affinity	ADJ
fsr-3891	151	114	participants	participant	NOUN
fsr-3891	151	115	affinities	affinity	NOUN
fsr-3891	151	116	nonaffinities	nonaffinitie	NOUN
fsr-3891	151	117	t	t	NOUN
fsr-3891	151	118	-	-	PUNCT
fsr-3891	151	119	statistic	statistic	NOUN
fsr-3891	151	120	number	number	NOUN
fsr-3891	151	121	of	of	ADP
fsr-3891	151	122	listings	listing	NOUN
fsr-3891	151	123	544	544	NUM
fsr-3891	151	124	212	212	NUM
fsr-3891	151	125	2.75	2.75	NUM
fsr-3891	151	126	*	*	NOUN
fsr-3891	151	127	number	number	NOUN
fsr-3891	151	128	of	of	ADP
fsr-3891	151	129	sales	sale	NOUN
fsr-3891	151	130	563	563	NUM
fsr-3891	151	131	214	214	NUM
fsr-3891	151	132	2.61	2.61	NUM
fsr-3891	151	133	*	*	PUNCT
fsr-3891	151	134	total	total	ADJ
fsr-3891	151	135	revenue	revenue	NOUN
fsr-3891	151	136	transactions	transaction	NOUN
fsr-3891	151	137	1107	1107	NUM
fsr-3891	151	138	426	426	NUM
fsr-3891	151	139	2.60	2.60	NUM
fsr-3891	151	140	*	*	PUNCT
fsr-3891	151	141	gross	gross	ADJ
fsr-3891	151	142	revenues	revenue	NOUN
fsr-3891	151	143	$	$	SYM
fsr-3891	151	144	4,107,672	4,107,672	NUM
fsr-3891	151	145	$	$	SYM
fsr-3891	151	146	1,270,619	1,270,619	NUM
fsr-3891	151	147	3.12	3.12	NUM
fsr-3891	151	148	*	*	NUM
fsr-3891	151	149	adjusted	adjust	VERB
fsr-3891	151	150	net	net	ADJ
fsr-3891	151	151	income	income	NOUN
fsr-3891	151	152	$	$	SYM
fsr-3891	151	153	245,617	245,617	NUM
fsr-3891	151	154	$	$	SYM
fsr-3891	151	155	81,320	81,320	NUM
fsr-3891	151	156	2.60	2.60	NUM
fsr-3891	151	157	*	*	PUNCT
fsr-3891	151	158	gross	gross	ADJ
fsr-3891	151	159	revenues	revenue	NOUN
fsr-3891	151	160	/	/	SYM
fsr-3891	151	161	revenue	revenue	NOUN
fsr-3891	151	162	transaction	transaction	NOUN
fsr-3891	151	163	$	$	SYM
fsr-3891	151	164	3,808	3,808	NUM
fsr-3891	151	165	$	$	SYM
fsr-3891	151	166	3,573	3,573	NUM
fsr-3891	151	167	0.52	0.52	NUM
fsr-3891	151	168	adjusted	adjust	VERB
fsr-3891	151	169	net	net	ADJ
fsr-3891	151	170	income	income	NOUN
fsr-3891	151	171	/	/	SYM
fsr-3891	151	172	revenue	revenue	NOUN
fsr-3891	151	173	transaction	transaction	NOUN
fsr-3891	151	174	$	$	SYM
fsr-3891	151	175	260	260	NUM
fsr-3891	151	176	$	$	SYM
fsr-3891	151	177	360	360	NUM
fsr-3891	151	178	20.36	20.36	NUM
fsr-3891	151	179	percentage	percentage	NOUN
fsr-3891	151	180	of	of	ADP
fsr-3891	151	181	firms	firm	NOUN
fsr-3891	151	182	experiencing	experience	VERB
fsr-3891	151	183	an	an	DET
fsr-3891	151	184	increase	increase	NOUN
fsr-3891	151	185	in	in	ADP
fsr-3891	151	186	profitability	profitability	NOUN
fsr-3891	151	187	49	49	NUM
fsr-3891	151	188	%	%	NOUN
fsr-3891	151	189	41	41	NUM
fsr-3891	151	190	%	%	NOUN
fsr-3891	151	191	1.41	1.41	NUM
fsr-3891	151	192	*	*	PUNCT
fsr-3891	151	193	denotes	denote	NOUN
fsr-3891	151	194	that	that	SCONJ
fsr-3891	151	195	a	a	DET
fsr-3891	151	196	significant	significant	ADJ
fsr-3891	151	197	difference	difference	NOUN
fsr-3891	151	198	between	between	ADP
fsr-3891	151	199	the	the	DET
fsr-3891	151	200	two	two	NUM
fsr-3891	151	201	sample	sample	NOUN
fsr-3891	151	202	means	mean	VERB
fsr-3891	151	203	at	at	ADP
fsr-3891	151	204	the	the	DET
fsr-3891	151	205	0.05	0.05	NUM
fsr-3891	151	206	level	level	NOUN
fsr-3891	151	207	of	of	ADP
fsr-3891	151	208	significance	significance	NOUN
fsr-3891	151	209	.	.	PUNCT
fsr-3891	152	1	189d	189d	NOUN
fsr-3891	152	2	.	.	PUNCT
fsr-3891	153	1	lewis	lewis	PROPN
fsr-3891	153	2	et	et	PROPN
fsr-3891	153	3	al	al	PROPN
fsr-3891	153	4	.	.	PUNCT
fsr-3891	153	5	/	/	SYM
fsr-3891	153	6	financial	financial	ADJ
fsr-3891	153	7	services	service	NOUN
fsr-3891	153	8	review	review	VERB
fsr-3891	153	9	8	8	NUM
fsr-3891	153	10	(	(	PUNCT
fsr-3891	153	11	1999	1999	NUM
fsr-3891	153	12	)	)	PUNCT
fsr-3891	153	13	183–197	183–197	NUM
fsr-3891	153	14	amounts	amount	NOUN
fsr-3891	153	15	of	of	ADP
fsr-3891	153	16	inputs	input	NOUN
fsr-3891	153	17	and	and	CCONJ
fsr-3891	153	18	the	the	DET
fsr-3891	153	19	optimal	optimal	ADJ
fsr-3891	153	20	allocations	allocation	NOUN
fsr-3891	153	21	of	of	ADP
fsr-3891	153	22	inputs	input	NOUN
fsr-3891	153	23	such	such	ADJ
fsr-3891	153	24	that	that	DET
fsr-3891	153	25	total	total	ADJ
fsr-3891	153	26	costs	cost	NOUN
fsr-3891	153	27	are	be	AUX
fsr-3891	153	28	minimized	minimize	VERB
fsr-3891	153	29	for	for	ADP
fsr-3891	153	30	a	a	DET
fsr-3891	153	31	given	give	VERB
fsr-3891	153	32	number	number	NOUN
fsr-3891	153	33	of	of	ADP
fsr-3891	153	34	revenue	revenue	NOUN
fsr-3891	153	35	transactions	transaction	NOUN
fsr-3891	153	36	.	.	PUNCT
fsr-3891	154	1	total	total	ADJ
fsr-3891	154	2	costs	cost	NOUN
fsr-3891	154	3	consist	consist	VERB
fsr-3891	154	4	of	of	ADP
fsr-3891	154	5	commissions	commission	NOUN
fsr-3891	154	6	paid	pay	VERB
fsr-3891	154	7	to	to	ADP
fsr-3891	154	8	selling	sell	VERB
fsr-3891	154	9	agents	agent	NOUN
fsr-3891	154	10	,	,	PUNCT
fsr-3891	154	11	the	the	DET
fsr-3891	154	12	value	value	NOUN
fsr-3891	154	13	of	of	ADP
fsr-3891	154	14	non	non	ADJ
fsr-3891	154	15	-	-	ADJ
fsr-3891	154	16	selling	selling	ADJ
fsr-3891	154	17	services	service	NOUN
fsr-3891	154	18	provided	provide	VERB
fsr-3891	154	19	by	by	ADP
fsr-3891	154	20	broker	broker	NOUN
fsr-3891	154	21	-	-	PUNCT
fsr-3891	154	22	owners	owner	NOUN
fsr-3891	154	23	,	,	PUNCT
fsr-3891	154	24	advertisement	advertisement	NOUN
fsr-3891	154	25	and	and	CCONJ
fsr-3891	154	26	promotional	promotional	ADJ
fsr-3891	154	27	costs	cost	NOUN
fsr-3891	154	28	,	,	PUNCT
fsr-3891	154	29	the	the	DET
fsr-3891	154	30	cost	cost	NOUN
fsr-3891	154	31	of	of	ADP
fsr-3891	154	32	buildings	building	NOUN
fsr-3891	154	33	and	and	CCONJ
fsr-3891	154	34	occupancy	occupancy	NOUN
fsr-3891	154	35	,	,	PUNCT
fsr-3891	154	36	and	and	CCONJ
fsr-3891	154	37	all	all	DET
fsr-3891	154	38	other	other	ADJ
fsr-3891	154	39	production	production	NOUN
fsr-3891	154	40	related	relate	VERB
fsr-3891	154	41	expenditures	expenditure	NOUN
fsr-3891	154	42	.	.	PUNCT
fsr-3891	155	1	the	the	DET
fsr-3891	155	2	selling	selling	NOUN
fsr-3891	155	3	expenses	expense	NOUN
fsr-3891	155	4	include	include	VERB
fsr-3891	155	5	multiple	multiple	ADJ
fsr-3891	155	6	listing	listing	NOUN
fsr-3891	155	7	service	service	NOUN
fsr-3891	155	8	(	(	PUNCT
fsr-3891	155	9	mls	mls	PROPN
fsr-3891	155	10	)	)	PUNCT
fsr-3891	155	11	fees	fee	NOUN
fsr-3891	155	12	that	that	PRON
fsr-3891	155	13	vary	vary	VERB
fsr-3891	155	14	directly	directly	ADV
fsr-3891	155	15	with	with	ADP
fsr-3891	155	16	sales	sale	NOUN
fsr-3891	155	17	,	,	PUNCT
fsr-3891	155	18	bonuses	bonus	NOUN
fsr-3891	155	19	of	of	ADP
fsr-3891	155	20	sales	sale	NOUN
fsr-3891	155	21	managers	manager	NOUN
fsr-3891	155	22	based	base	VERB
fsr-3891	155	23	on	on	ADP
fsr-3891	155	24	sales	sale	NOUN
fsr-3891	155	25	-	-	PUNCT
fsr-3891	155	26	staff	staff	NOUN
fsr-3891	155	27	performance	performance	NOUN
fsr-3891	155	28	,	,	PUNCT
fsr-3891	155	29	commissions	commission	NOUN
fsr-3891	155	30	paid	pay	VERB
fsr-3891	155	31	to	to	ADP
fsr-3891	155	32	owners	owner	NOUN
fsr-3891	155	33	,	,	PUNCT
fsr-3891	155	34	and	and	CCONJ
fsr-3891	155	35	commissions	commission	NOUN
fsr-3891	155	36	paid	pay	VERB
fsr-3891	155	37	directly	directly	ADV
fsr-3891	155	38	to	to	ADP
fsr-3891	155	39	the	the	DET
fsr-3891	155	40	sales	sale	NOUN
fsr-3891	155	41	staff	staff	NOUN
fsr-3891	155	42	.	.	PUNCT
fsr-3891	156	1	within	within	ADP
fsr-3891	156	2	these	these	DET
fsr-3891	156	3	expenses	expense	NOUN
fsr-3891	156	4	,	,	PUNCT
fsr-3891	156	5	the	the	DET
fsr-3891	156	6	costs	cost	NOUN
fsr-3891	156	7	of	of	ADP
fsr-3891	156	8	affinity	affinity	NOUN
fsr-3891	156	9	relationships	relationship	NOUN
fsr-3891	156	10	are	be	AUX
fsr-3891	156	11	implicitly	implicitly	ADV
fsr-3891	156	12	included	include	VERB
fsr-3891	156	13	.	.	PUNCT
fsr-3891	157	1	the	the	DET
fsr-3891	157	2	cost	cost	NOUN
fsr-3891	157	3	function	function	NOUN
fsr-3891	157	4	that	that	PRON
fsr-3891	157	5	we	we	PRON
fsr-3891	157	6	define	define	VERB
fsr-3891	157	7	and	and	CCONJ
fsr-3891	157	8	estimate	estimate	VERB
fsr-3891	157	9	in	in	ADP
fsr-3891	157	10	the	the	DET
fsr-3891	157	11	next	next	ADJ
fsr-3891	157	12	section	section	NOUN
fsr-3891	157	13	expresses	express	VERB
fsr-3891	157	14	total	total	ADJ
fsr-3891	157	15	costs	cost	NOUN
fsr-3891	157	16	as	as	ADP
fsr-3891	157	17	a	a	DET
fsr-3891	157	18	function	function	NOUN
fsr-3891	157	19	of	of	ADP
fsr-3891	157	20	output	output	NOUN
fsr-3891	157	21	and	and	CCONJ
fsr-3891	157	22	input	input	NOUN
fsr-3891	157	23	prices	price	NOUN
fsr-3891	157	24	.	.	PUNCT
fsr-3891	158	1	hence	hence	ADV
fsr-3891	158	2	,	,	PUNCT
fsr-3891	158	3	we	we	PRON
fsr-3891	158	4	convert	convert	VERB
fsr-3891	158	5	the	the	DET
fsr-3891	158	6	inputs	input	NOUN
fsr-3891	158	7	of	of	ADP
fsr-3891	158	8	total	total	ADJ
fsr-3891	158	9	cost	cost	NOUN
fsr-3891	158	10	into	into	ADP
fsr-3891	158	11	four	four	NUM
fsr-3891	158	12	input	input	NOUN
fsr-3891	158	13	prices	price	NOUN
fsr-3891	158	14	.	.	PUNCT
fsr-3891	159	1	we	we	PRON
fsr-3891	159	2	define	define	VERB
fsr-3891	159	3	the	the	DET
fsr-3891	159	4	prices	price	NOUN
fsr-3891	159	5	of	of	ADP
fsr-3891	159	6	labor	labor	NOUN
fsr-3891	159	7	(	(	PUNCT
fsr-3891	159	8	plab	plab	PROPN
fsr-3891	159	9	)	)	PUNCT
fsr-3891	159	10	,	,	PUNCT
fsr-3891	159	11	physical	physical	ADJ
fsr-3891	159	12	capital	capital	NOUN
fsr-3891	159	13	(	(	PUNCT
fsr-3891	159	14	pcapital	pcapital	ADJ
fsr-3891	159	15	)	)	PUNCT
fsr-3891	159	16	,	,	PUNCT
fsr-3891	159	17	advertising	advertising	NOUN
fsr-3891	159	18	and	and	CCONJ
fsr-3891	159	19	promotions	promotion	NOUN
fsr-3891	159	20	(	(	PUNCT
fsr-3891	159	21	pad	pad	NOUN
fsr-3891	159	22	)	)	PUNCT
fsr-3891	159	23	and	and	CCONJ
fsr-3891	159	24	other	other	ADJ
fsr-3891	159	25	inputs	input	NOUN
fsr-3891	159	26	(	(	PUNCT
fsr-3891	159	27	pother	pother	NOUN
fsr-3891	159	28	)	)	PUNCT
fsr-3891	159	29	.	.	PUNCT
fsr-3891	160	1	wages	wage	NOUN
fsr-3891	160	2	of	of	ADP
fsr-3891	160	3	employees	employee	NOUN
fsr-3891	160	4	are	be	AUX
fsr-3891	160	5	total	total	ADJ
fsr-3891	160	6	sales	sale	NOUN
fsr-3891	160	7	-	-	PUNCT
fsr-3891	160	8	related	relate	VERB
fsr-3891	160	9	expenses	expense	NOUN
fsr-3891	160	10	plus	plus	CCONJ
fsr-3891	160	11	salaries	salary	NOUN
fsr-3891	160	12	of	of	ADP
fsr-3891	160	13	all	all	DET
fsr-3891	160	14	clerical	clerical	ADJ
fsr-3891	160	15	,	,	PUNCT
fsr-3891	160	16	secretarial	secretarial	ADJ
fsr-3891	160	17	,	,	PUNCT
fsr-3891	160	18	and	and	CCONJ
fsr-3891	160	19	sales	sale	NOUN
fsr-3891	160	20	managers	manager	NOUN
fsr-3891	160	21	’	'	PUNCT
fsr-3891	160	22	divided	divide	VERB
fsr-3891	160	23	by	by	ADP
fsr-3891	160	24	the	the	DET
fsr-3891	160	25	number	number	NOUN
fsr-3891	160	26	of	of	ADP
fsr-3891	160	27	full	full	ADJ
fsr-3891	160	28	-	-	PUNCT
fsr-3891	160	29	time	time	NOUN
fsr-3891	160	30	equivalent	equivalent	ADJ
fsr-3891	160	31	employees	employee	NOUN
fsr-3891	160	32	.	.	PUNCT
fsr-3891	161	1	the	the	DET
fsr-3891	161	2	rents	rent	NOUN
fsr-3891	161	3	on	on	ADP
fsr-3891	161	4	physical	physical	ADJ
fsr-3891	161	5	capital	capital	NOUN
fsr-3891	161	6	are	be	AUX
fsr-3891	161	7	total	total	ADJ
fsr-3891	161	8	occupancy	occupancy	NOUN
fsr-3891	161	9	expense	expense	NOUN
fsr-3891	161	10	divided	divide	VERB
fsr-3891	161	11	by	by	ADP
fsr-3891	161	12	the	the	DET
fsr-3891	161	13	number	number	NOUN
fsr-3891	161	14	of	of	ADP
fsr-3891	161	15	real	real	ADJ
fsr-3891	161	16	estate	estate	NOUN
fsr-3891	161	17	offices	office	NOUN
fsr-3891	161	18	.	.	PUNCT
fsr-3891	162	1	advertising	advertising	NOUN
fsr-3891	162	2	and	and	CCONJ
fsr-3891	162	3	promotion	promotion	NOUN
fsr-3891	162	4	expenses	expense	NOUN
fsr-3891	162	5	are	be	AUX
fsr-3891	162	6	expressed	express	VERB
fsr-3891	162	7	as	as	ADP
fsr-3891	162	8	a	a	DET
fsr-3891	162	9	percentage	percentage	NOUN
fsr-3891	162	10	of	of	ADP
fsr-3891	162	11	revenue	revenue	NOUN
fsr-3891	162	12	transactions	transaction	NOUN
fsr-3891	162	13	.	.	PUNCT
fsr-3891	163	1	and	and	CCONJ
fsr-3891	163	2	,	,	PUNCT
fsr-3891	163	3	“	"	PUNCT
fsr-3891	163	4	other	other	ADJ
fsr-3891	163	5	”	"	PUNCT
fsr-3891	163	6	inputs	input	NOUN
fsr-3891	163	7	are	be	AUX
fsr-3891	163	8	also	also	ADV
fsr-3891	163	9	expressed	express	VERB
fsr-3891	163	10	as	as	ADP
fsr-3891	163	11	a	a	DET
fsr-3891	163	12	percentage	percentage	NOUN
fsr-3891	163	13	of	of	ADP
fsr-3891	163	14	revenue	revenue	NOUN
fsr-3891	163	15	transactions	transaction	NOUN
fsr-3891	163	16	.	.	PUNCT
fsr-3891	164	1	all	all	PRON
fsr-3891	164	2	of	of	ADP
fsr-3891	164	3	these	these	DET
fsr-3891	164	4	input	input	NOUN
fsr-3891	164	5	prices	price	NOUN
fsr-3891	164	6	are	be	AUX
fsr-3891	164	7	expressed	express	VERB
fsr-3891	164	8	in	in	ADP
fsr-3891	164	9	natural	natural	ADJ
fsr-3891	164	10	log	log	NOUN
fsr-3891	164	11	form	form	NOUN
fsr-3891	164	12	in	in	ADP
fsr-3891	164	13	the	the	DET
fsr-3891	164	14	estimated	estimate	VERB
fsr-3891	164	15	model	model	NOUN
fsr-3891	164	16	.	.	PUNCT
fsr-3891	165	1	as	as	SCONJ
fsr-3891	165	2	such	such	ADJ
fsr-3891	165	3	,	,	PUNCT
fsr-3891	165	4	table	table	NOUN
fsr-3891	165	5	2	2	NUM
fsr-3891	165	6	lists	list	NOUN
fsr-3891	165	7	the	the	DET
fsr-3891	165	8	mean	mean	ADJ
fsr-3891	165	9	and	and	CCONJ
fsr-3891	165	10	standard	standard	ADJ
fsr-3891	165	11	deviation	deviation	NOUN
fsr-3891	165	12	for	for	ADP
fsr-3891	165	13	each	each	PRON
fsr-3891	165	14	of	of	ADP
fsr-3891	165	15	these	these	DET
fsr-3891	165	16	four	four	NUM
fsr-3891	165	17	input	input	NOUN
fsr-3891	165	18	prices	price	NOUN
fsr-3891	165	19	and	and	CCONJ
fsr-3891	165	20	for	for	ADP
fsr-3891	165	21	total	total	ADJ
fsr-3891	165	22	cost	cost	NOUN
fsr-3891	165	23	in	in	ADP
fsr-3891	165	24	natural	natural	ADJ
fsr-3891	165	25	log	log	NOUN
fsr-3891	165	26	form	form	NOUN
fsr-3891	165	27	.	.	PUNCT
fsr-3891	166	1	4	4	X
fsr-3891	166	2	.	.	X
fsr-3891	166	3	the	the	DET
fsr-3891	166	4	efficiency	efficiency	NOUN
fsr-3891	166	5	estimation	estimation	NOUN
fsr-3891	166	6	methodology	methodology	NOUN
fsr-3891	166	7	4.1	4.1	NUM
fsr-3891	166	8	.	.	PUNCT
fsr-3891	167	1	the	the	DET
fsr-3891	167	2	stochastic	stochastic	ADJ
fsr-3891	167	3	frontier	frontier	NOUN
fsr-3891	167	4	methodology	methodology	NOUN
fsr-3891	167	5	we	we	PRON
fsr-3891	167	6	use	use	VERB
fsr-3891	167	7	a	a	DET
fsr-3891	167	8	stochastic	stochastic	ADJ
fsr-3891	167	9	frontier	frontier	NOUN
fsr-3891	167	10	model	model	NOUN
fsr-3891	167	11	to	to	PART
fsr-3891	167	12	estimate	estimate	VERB
fsr-3891	167	13	firm	firm	ADJ
fsr-3891	167	14	efficiency	efficiency	NOUN
fsr-3891	167	15	and	and	CCONJ
fsr-3891	167	16	economies	economy	NOUN
fsr-3891	167	17	of	of	ADP
fsr-3891	167	18	scale	scale	NOUN
fsr-3891	167	19	.	.	PUNCT
fsr-3891	168	1	aigner	aigner	NOUN
fsr-3891	168	2	,	,	PUNCT
fsr-3891	168	3	lovell	lovell	PROPN
fsr-3891	168	4	,	,	PUNCT
fsr-3891	168	5	and	and	CCONJ
fsr-3891	168	6	schmidt	schmidt	PROPN
fsr-3891	168	7	(	(	PUNCT
fsr-3891	168	8	1977	1977	NUM
fsr-3891	168	9	)	)	PUNCT
fsr-3891	168	10	and	and	CCONJ
fsr-3891	168	11	meeusen	meeusen	PROPN
fsr-3891	168	12	and	and	CCONJ
fsr-3891	168	13	van	van	PROPN
fsr-3891	168	14	den	den	PROPN
fsr-3891	168	15	broeck	broeck	NOUN
fsr-3891	168	16	(	(	PUNCT
fsr-3891	168	17	1977	1977	NUM
fsr-3891	168	18	)	)	PUNCT
fsr-3891	168	19	introduce	introduce	VERB
fsr-3891	168	20	stochastic	stochastic	ADJ
fsr-3891	168	21	frontier	frontier	NOUN
fsr-3891	168	22	model	model	NOUN
fsr-3891	168	23	to	to	ADP
fsr-3891	168	24	the	the	DET
fsr-3891	168	25	finance	finance	NOUN
fsr-3891	168	26	and	and	CCONJ
fsr-3891	168	27	economics	economic	NOUN
fsr-3891	168	28	literature	literature	NOUN
fsr-3891	168	29	.	.	PUNCT
fsr-3891	169	1	in	in	ADP
fsr-3891	169	2	essence	essence	NOUN
fsr-3891	169	3	,	,	PUNCT
fsr-3891	169	4	the	the	DET
fsr-3891	169	5	technique	technique	NOUN
fsr-3891	169	6	table	table	NOUN
fsr-3891	169	7	2	2	NUM
fsr-3891	169	8	summary	summary	NOUN
fsr-3891	169	9	statistics	statistic	NOUN
fsr-3891	169	10	(	(	PUNCT
fsr-3891	169	11	full	full	ADJ
fsr-3891	169	12	sample	sample	NOUN
fsr-3891	169	13	)	)	PUNCT
fsr-3891	169	14	for	for	ADP
fsr-3891	169	15	the	the	DET
fsr-3891	169	16	input	input	NOUN
fsr-3891	169	17	prices	price	NOUN
fsr-3891	169	18	and	and	CCONJ
fsr-3891	169	19	firm	firm	ADJ
fsr-3891	169	20	total	total	ADJ
fsr-3891	169	21	costs	cost	NOUN
fsr-3891	169	22	in	in	ADP
fsr-3891	169	23	logarithmic	logarithmic	ADJ
fsr-3891	169	24	forma	forma	NOUN
fsr-3891	169	25	mean	mean	NOUN
fsr-3891	169	26	standard	standard	ADJ
fsr-3891	169	27	deviation	deviation	NOUN
fsr-3891	169	28	ln	ln	NOUN
fsr-3891	169	29	(	(	PUNCT
fsr-3891	169	30	plab	plab	PROPN
fsr-3891	169	31	)	)	PUNCT
fsr-3891	169	32	10.29	10.29	NUM
fsr-3891	169	33	1.42	1.42	NUM
fsr-3891	169	34	ln	ln	NOUN
fsr-3891	169	35	(	(	PUNCT
fsr-3891	169	36	pocc	pocc	NOUN
fsr-3891	169	37	)	)	PUNCT
fsr-3891	169	38	9.99	9.99	NUM
fsr-3891	169	39	1.05	1.05	NUM
fsr-3891	169	40	ln	ln	ADJ
fsr-3891	169	41	(	(	PUNCT
fsr-3891	169	42	pad	pad	NOUN
fsr-3891	169	43	)	)	PUNCT
fsr-3891	169	44	5.16	5.16	NUM
fsr-3891	169	45	0.78	0.78	NUM
fsr-3891	169	46	ln	ln	NOUN
fsr-3891	169	47	(	(	PUNCT
fsr-3891	169	48	pother	pother	NOUN
fsr-3891	169	49	)	)	PUNCT
fsr-3891	169	50	6.16	6.16	NUM
fsr-3891	169	51	0.88	0.88	NUM
fsr-3891	169	52	ln	ln	NOUN
fsr-3891	169	53	(	(	PUNCT
fsr-3891	169	54	total	total	ADJ
fsr-3891	169	55	costs	cost	NOUN
fsr-3891	169	56	)	)	PUNCT
fsr-3891	169	57	13.37	13.37	NUM
fsr-3891	169	58	1.61	1.61	NUM
fsr-3891	169	59	a	a	DET
fsr-3891	169	60	plab	plab	NOUN
fsr-3891	169	61	5	5	NUM
fsr-3891	169	62	prices	price	NOUN
fsr-3891	169	63	of	of	ADP
fsr-3891	169	64	labor	labor	NOUN
fsr-3891	169	65	;	;	PUNCT
fsr-3891	169	66	pcapital5	pcapital5	ADJ
fsr-3891	169	67	price	price	NOUN
fsr-3891	169	68	of	of	ADP
fsr-3891	169	69	physical	physical	ADJ
fsr-3891	169	70	capital	capital	NOUN
fsr-3891	169	71	;	;	PUNCT
fsr-3891	169	72	pad	pad	NOUN
fsr-3891	169	73	5	5	NUM
fsr-3891	169	74	price	price	NOUN
fsr-3891	169	75	of	of	ADP
fsr-3891	169	76	advertising	advertising	NOUN
fsr-3891	169	77	and	and	CCONJ
fsr-3891	169	78	promotions	promotion	NOUN
fsr-3891	169	79	;	;	PUNCT
fsr-3891	169	80	pother	pother	NOUN
fsr-3891	169	81	5	5	NUM
fsr-3891	169	82	price	price	NOUN
fsr-3891	169	83	other	other	ADJ
fsr-3891	169	84	inputs	input	NOUN
fsr-3891	169	85	.	.	PUNCT
fsr-3891	170	1	wages	wage	NOUN
fsr-3891	170	2	of	of	ADP
fsr-3891	170	3	employees	employee	NOUN
fsr-3891	170	4	are	be	AUX
fsr-3891	170	5	total	total	ADJ
fsr-3891	170	6	sales	sale	NOUN
fsr-3891	170	7	-	-	PUNCT
fsr-3891	170	8	related	relate	VERB
fsr-3891	170	9	expenses	expense	NOUN
fsr-3891	170	10	plus	plus	CCONJ
fsr-3891	170	11	salaries	salary	NOUN
fsr-3891	170	12	of	of	ADP
fsr-3891	170	13	all	all	DET
fsr-3891	170	14	clerical	clerical	ADJ
fsr-3891	170	15	,	,	PUNCT
fsr-3891	170	16	secretarial	secretarial	ADJ
fsr-3891	170	17	,	,	PUNCT
fsr-3891	170	18	and	and	CCONJ
fsr-3891	170	19	sales	sale	NOUN
fsr-3891	170	20	managers	manager	NOUN
fsr-3891	170	21	’	'	PUNCT
fsr-3891	170	22	divided	divide	VERB
fsr-3891	170	23	by	by	ADP
fsr-3891	170	24	the	the	DET
fsr-3891	170	25	number	number	NOUN
fsr-3891	170	26	of	of	ADP
fsr-3891	170	27	full	full	ADJ
fsr-3891	170	28	-	-	PUNCT
fsr-3891	170	29	time	time	NOUN
fsr-3891	170	30	equivalent	equivalent	ADJ
fsr-3891	170	31	employees	employee	NOUN
fsr-3891	170	32	.	.	PUNCT
fsr-3891	171	1	the	the	DET
fsr-3891	171	2	rents	rent	NOUN
fsr-3891	171	3	on	on	ADP
fsr-3891	171	4	physical	physical	ADJ
fsr-3891	171	5	capital	capital	NOUN
fsr-3891	171	6	are	be	AUX
fsr-3891	171	7	total	total	ADJ
fsr-3891	171	8	occupancy	occupancy	NOUN
fsr-3891	171	9	expense	expense	NOUN
fsr-3891	171	10	divided	divide	VERB
fsr-3891	171	11	by	by	ADP
fsr-3891	171	12	the	the	DET
fsr-3891	171	13	number	number	NOUN
fsr-3891	171	14	of	of	ADP
fsr-3891	171	15	real	real	ADJ
fsr-3891	171	16	estate	estate	NOUN
fsr-3891	171	17	offices	office	NOUN
fsr-3891	171	18	.	.	PUNCT
fsr-3891	172	1	advertising	advertising	NOUN
fsr-3891	172	2	and	and	CCONJ
fsr-3891	172	3	promotion	promotion	NOUN
fsr-3891	172	4	expenses	expense	NOUN
fsr-3891	172	5	are	be	AUX
fsr-3891	172	6	expressed	express	VERB
fsr-3891	172	7	as	as	ADP
fsr-3891	172	8	a	a	DET
fsr-3891	172	9	percentage	percentage	NOUN
fsr-3891	172	10	of	of	ADP
fsr-3891	172	11	revenue	revenue	NOUN
fsr-3891	172	12	transactions	transaction	NOUN
fsr-3891	172	13	.	.	PUNCT
fsr-3891	173	1	and	and	CCONJ
fsr-3891	173	2	,	,	PUNCT
fsr-3891	173	3	“	"	PUNCT
fsr-3891	173	4	other	other	ADJ
fsr-3891	173	5	”	"	PUNCT
fsr-3891	173	6	inputs	input	NOUN
fsr-3891	173	7	are	be	AUX
fsr-3891	173	8	also	also	ADV
fsr-3891	173	9	expressed	express	VERB
fsr-3891	173	10	as	as	ADP
fsr-3891	173	11	a	a	DET
fsr-3891	173	12	percentage	percentage	NOUN
fsr-3891	173	13	of	of	ADP
fsr-3891	173	14	revenue	revenue	NOUN
fsr-3891	173	15	transactions	transaction	NOUN
fsr-3891	173	16	.	.	PUNCT
fsr-3891	174	1	190	190	NUM
fsr-3891	174	2	d.	d.	PROPN
fsr-3891	174	3	lewis	lewis	PROPN
fsr-3891	174	4	et	et	PROPN
fsr-3891	174	5	al	al	PROPN
fsr-3891	174	6	.	.	PUNCT
fsr-3891	174	7	/	/	SYM
fsr-3891	174	8	financial	financial	ADJ
fsr-3891	174	9	services	service	NOUN
fsr-3891	174	10	review	review	VERB
fsr-3891	174	11	8	8	NUM
fsr-3891	174	12	(	(	PUNCT
fsr-3891	174	13	1999	1999	NUM
fsr-3891	174	14	)	)	PUNCT
fsr-3891	174	15	183–197	183–197	PROPN
fsr-3891	174	16	constructs	construct	VERB
fsr-3891	174	17	an	an	DET
fsr-3891	174	18	efficient	efficient	ADJ
fsr-3891	174	19	frontier	frontier	NOUN
fsr-3891	174	20	that	that	PRON
fsr-3891	174	21	represents	represent	VERB
fsr-3891	174	22	the	the	DET
fsr-3891	174	23	minimum	minimum	ADJ
fsr-3891	174	24	total	total	ADJ
fsr-3891	174	25	costs	cost	NOUN
fsr-3891	174	26	that	that	PRON
fsr-3891	174	27	a	a	DET
fsr-3891	174	28	firm	firm	NOUN
fsr-3891	174	29	can	can	AUX
fsr-3891	174	30	incur	incur	VERB
fsr-3891	174	31	given	give	VERB
fsr-3891	174	32	its	its	PRON
fsr-3891	174	33	outputs	output	NOUN
fsr-3891	174	34	and	and	CCONJ
fsr-3891	174	35	input	input	NOUN
fsr-3891	174	36	prices	price	NOUN
fsr-3891	174	37	.	.	PUNCT
fsr-3891	175	1	after	after	ADP
fsr-3891	175	2	constructing	construct	VERB
fsr-3891	175	3	the	the	DET
fsr-3891	175	4	frontier	frontier	NOUN
fsr-3891	175	5	,	,	PUNCT
fsr-3891	175	6	we	we	PRON
fsr-3891	175	7	then	then	ADV
fsr-3891	175	8	determine	determine	VERB
fsr-3891	175	9	how	how	SCONJ
fsr-3891	175	10	far	far	ADV
fsr-3891	175	11	an	an	DET
fsr-3891	175	12	individual	individual	ADJ
fsr-3891	175	13	firm	firm	NOUN
fsr-3891	175	14	is	be	AUX
fsr-3891	175	15	deviating	deviate	VERB
fsr-3891	175	16	from	from	ADP
fsr-3891	175	17	efficiency	efficiency	NOUN
fsr-3891	175	18	.	.	PUNCT
fsr-3891	176	1	with	with	ADP
fsr-3891	176	2	a	a	DET
fsr-3891	176	3	stochastic	stochastic	ADJ
fsr-3891	176	4	frontier	frontier	NOUN
fsr-3891	176	5	technique	technique	NOUN
fsr-3891	176	6	,	,	PUNCT
fsr-3891	176	7	we	we	PRON
fsr-3891	176	8	decompose	decompose	VERB
fsr-3891	176	9	deviations	deviation	NOUN
fsr-3891	176	10	into	into	ADP
fsr-3891	176	11	two	two	NUM
fsr-3891	176	12	-	-	PUNCT
fsr-3891	176	13	components	component	NOUN
fsr-3891	176	14	:	:	PUNCT
fsr-3891	176	15	random	random	ADJ
fsr-3891	176	16	error	error	NOUN
fsr-3891	176	17	and	and	CCONJ
fsr-3891	176	18	firm	firm	ADJ
fsr-3891	176	19	inefficiency	inefficiency	NOUN
fsr-3891	176	20	.	.	PUNCT
fsr-3891	177	1	in	in	ADP
fsr-3891	177	2	other	other	ADJ
fsr-3891	177	3	words	word	NOUN
fsr-3891	177	4	,	,	PUNCT
fsr-3891	177	5	a	a	DET
fsr-3891	177	6	firm	firm	NOUN
fsr-3891	177	7	can	can	AUX
fsr-3891	177	8	deviate	deviate	VERB
fsr-3891	177	9	from	from	ADP
fsr-3891	177	10	the	the	DET
fsr-3891	177	11	efficient	efficient	ADJ
fsr-3891	177	12	frontier	frontier	NOUN
fsr-3891	177	13	by	by	ADP
fsr-3891	177	14	either	either	CCONJ
fsr-3891	177	15	incurring	incur	VERB
fsr-3891	177	16	additional	additional	ADJ
fsr-3891	177	17	costs	cost	NOUN
fsr-3891	177	18	(	(	PUNCT
fsr-3891	177	19	inefficiency	inefficiency	NOUN
fsr-3891	177	20	)	)	PUNCT
fsr-3891	177	21	or	or	CCONJ
fsr-3891	177	22	because	because	SCONJ
fsr-3891	177	23	of	of	ADP
fsr-3891	177	24	measurement	measurement	NOUN
fsr-3891	177	25	error	error	NOUN
fsr-3891	177	26	or	or	CCONJ
fsr-3891	177	27	bad	bad	ADJ
fsr-3891	177	28	luck	luck	NOUN
fsr-3891	177	29	,	,	PUNCT
fsr-3891	177	30	which	which	PRON
fsr-3891	177	31	we	we	PRON
fsr-3891	177	32	consider	consider	VERB
fsr-3891	177	33	out	out	ADP
fsr-3891	177	34	of	of	ADP
fsr-3891	177	35	the	the	DET
fsr-3891	177	36	firms	firm	NOUN
fsr-3891	177	37	control	control	VERB
fsr-3891	177	38	.	.	PUNCT
fsr-3891	178	1	the	the	DET
fsr-3891	178	2	stochastic	stochastic	ADJ
fsr-3891	178	3	frontier	frontier	NOUN
fsr-3891	178	4	approach	approach	NOUN
fsr-3891	178	5	allows	allow	VERB
fsr-3891	178	6	us	we	PRON
fsr-3891	178	7	to	to	PART
fsr-3891	178	8	determine	determine	VERB
fsr-3891	178	9	what	what	PRON
fsr-3891	178	10	percentage	percentage	NOUN
fsr-3891	178	11	of	of	ADP
fsr-3891	178	12	the	the	DET
fsr-3891	178	13	deviation	deviation	NOUN
fsr-3891	178	14	from	from	ADP
fsr-3891	178	15	the	the	DET
fsr-3891	178	16	frontier	frontier	NOUN
fsr-3891	178	17	is	be	AUX
fsr-3891	178	18	a	a	DET
fsr-3891	178	19	function	function	NOUN
fsr-3891	178	20	of	of	ADP
fsr-3891	178	21	inefficient	inefficient	ADJ
fsr-3891	178	22	operations	operation	NOUN
fsr-3891	178	23	and	and	CCONJ
fsr-3891	178	24	what	what	DET
fsr-3891	178	25	portion	portion	NOUN
fsr-3891	178	26	of	of	ADP
fsr-3891	178	27	the	the	DET
fsr-3891	178	28	deviation	deviation	NOUN
fsr-3891	178	29	is	be	AUX
fsr-3891	178	30	simply	simply	ADV
fsr-3891	178	31	measurement	measurement	NOUN
fsr-3891	178	32	error	error	NOUN
fsr-3891	178	33	.	.	PUNCT
fsr-3891	179	1	we	we	PRON
fsr-3891	179	2	make	make	VERB
fsr-3891	179	3	the	the	DET
fsr-3891	179	4	common	common	ADJ
fsr-3891	179	5	assumption	assumption	NOUN
fsr-3891	179	6	that	that	SCONJ
fsr-3891	179	7	the	the	DET
fsr-3891	179	8	random	random	ADJ
fsr-3891	179	9	error	error	NOUN
fsr-3891	179	10	term	term	NOUN
fsr-3891	179	11	is	be	AUX
fsr-3891	179	12	two	two	NUM
fsr-3891	179	13	-	-	PUNCT
fsr-3891	179	14	sided	sided	ADJ
fsr-3891	179	15	,	,	PUNCT
fsr-3891	179	16	and	and	CCONJ
fsr-3891	179	17	is	be	AUX
fsr-3891	179	18	normally	normally	ADV
fsr-3891	179	19	distributed	distribute	VERB
fsr-3891	179	20	with	with	ADP
fsr-3891	179	21	mean	mean	NOUN
fsr-3891	179	22	zero	zero	NUM
fsr-3891	179	23	and	and	CCONJ
fsr-3891	179	24	variance	variance	NOUN
fsr-3891	179	25	,	,	PUNCT
fsr-3891	179	26	s2	s2	PROPN
fsr-3891	179	27	.	.	PUNCT
fsr-3891	180	1	in	in	ADP
fsr-3891	180	2	other	other	ADJ
fsr-3891	180	3	words	word	NOUN
fsr-3891	180	4	,	,	PUNCT
fsr-3891	180	5	the	the	DET
fsr-3891	180	6	random	random	ADJ
fsr-3891	180	7	error	error	NOUN
fsr-3891	180	8	component	component	NOUN
fsr-3891	180	9	can	can	AUX
fsr-3891	180	10	either	either	CCONJ
fsr-3891	180	11	increase	increase	VERB
fsr-3891	180	12	or	or	CCONJ
fsr-3891	180	13	decrease	decrease	VERB
fsr-3891	180	14	total	total	ADJ
fsr-3891	180	15	costs	cost	NOUN
fsr-3891	180	16	.	.	PUNCT
fsr-3891	181	1	we	we	PRON
fsr-3891	181	2	assume	assume	VERB
fsr-3891	181	3	that	that	SCONJ
fsr-3891	181	4	the	the	DET
fsr-3891	181	5	inefficiency	inefficiency	NOUN
fsr-3891	181	6	component	component	NOUN
fsr-3891	181	7	is	be	AUX
fsr-3891	181	8	distributed	distribute	VERB
fsr-3891	181	9	one	one	NUM
fsr-3891	181	10	-	-	PUNCT
fsr-3891	181	11	sided	sided	ADJ
fsr-3891	181	12	(	(	PUNCT
fsr-3891	181	13	exponentially	exponentially	ADV
fsr-3891	181	14	)	)	PUNCT
fsr-3891	181	15	,	,	PUNCT
fsr-3891	181	16	such	such	ADJ
fsr-3891	181	17	that	that	SCONJ
fsr-3891	181	18	it	it	PRON
fsr-3891	181	19	can	can	AUX
fsr-3891	181	20	only	only	ADV
fsr-3891	181	21	increase	increase	VERB
fsr-3891	181	22	the	the	DET
fsr-3891	181	23	firm	firm	NOUN
fsr-3891	181	24	’s	’s	PART
fsr-3891	181	25	total	total	ADJ
fsr-3891	181	26	costs	cost	NOUN
fsr-3891	181	27	.	.	PUNCT
fsr-3891	182	1	4.2	4.2	NUM
fsr-3891	182	2	.	.	PUNCT
fsr-3891	183	1	the	the	DET
fsr-3891	183	2	stochastic	stochastic	ADJ
fsr-3891	183	3	cost	cost	NOUN
fsr-3891	183	4	frontier	frontier	NOUN
fsr-3891	183	5	the	the	DET
fsr-3891	183	6	stochastic	stochastic	ADJ
fsr-3891	183	7	frontier	frontier	NOUN
fsr-3891	183	8	approach	approach	NOUN
fsr-3891	183	9	is	be	AUX
fsr-3891	183	10	parametric	parametric	ADJ
fsr-3891	183	11	,	,	PUNCT
fsr-3891	183	12	and	and	CCONJ
fsr-3891	183	13	as	as	ADP
fsr-3891	183	14	such	such	ADJ
fsr-3891	183	15	it	it	PRON
fsr-3891	183	16	is	be	AUX
fsr-3891	183	17	necessary	necessary	ADJ
fsr-3891	183	18	to	to	PART
fsr-3891	183	19	specify	specify	VERB
fsr-3891	183	20	a	a	DET
fsr-3891	183	21	functional	functional	ADJ
fsr-3891	183	22	form	form	NOUN
fsr-3891	183	23	.	.	PUNCT
fsr-3891	184	1	following	follow	VERB
fsr-3891	184	2	previous	previous	ADJ
fsr-3891	184	3	efficiency	efficiency	NOUN
fsr-3891	184	4	studies	study	NOUN
fsr-3891	184	5	for	for	ADP
fsr-3891	184	6	real	real	ADJ
fsr-3891	184	7	estate	estate	NOUN
fsr-3891	184	8	brokerage	brokerage	NOUN
fsr-3891	184	9	firms	firm	NOUN
fsr-3891	184	10	,	,	PUNCT
fsr-3891	184	11	we	we	PRON
fsr-3891	184	12	utilize	utilize	VERB
fsr-3891	184	13	use	use	VERB
fsr-3891	184	14	the	the	DET
fsr-3891	184	15	translog	translog	NOUN
fsr-3891	184	16	cost	cost	NOUN
fsr-3891	184	17	function	function	NOUN
fsr-3891	184	18	to	to	PART
fsr-3891	184	19	estimate	estimate	VERB
fsr-3891	184	20	cost	cost	NOUN
fsr-3891	184	21	efficiency	efficiency	NOUN
fsr-3891	184	22	:	:	PUNCT
fsr-3891	184	23	lntc	lntc	PROPN
fsr-3891	184	24	~	~	SYM
fsr-3891	184	25	pi	pi	NOUN
fsr-3891	184	26	,	,	PUNCT
fsr-3891	184	27	y	y	PROPN
fsr-3891	184	28	!	!	PROPN
fsr-3891	184	29	5	5	NUM
fsr-3891	185	1	bo	bo	PROPN
fsr-3891	185	2	1	1	NUM
fsr-3891	185	3	o	o	NOUN
fsr-3891	185	4	i51	i51	NOUN
fsr-3891	185	5	4	4	NUM
fsr-3891	185	6	bilnpi	bilnpi	VERB
fsr-3891	185	7	1	1	NUM
fsr-3891	185	8	o	o	NOUN
fsr-3891	185	9	i51	i51	NOUN
fsr-3891	185	10	4	4	NUM
fsr-3891	185	11	o	o	NOUN
fsr-3891	185	12	j51	j51	NOUN
fsr-3891	185	13	4	4	NUM
fsr-3891	185	14	bij	bij	NOUN
fsr-3891	185	15	lnpilnpj	lnpilnpj	VERB
fsr-3891	185	16	1	1	NUM
fsr-3891	185	17	b6lny	b6lny	NOUN
fsr-3891	185	18	1	1	NUM
fsr-3891	185	19	b7lny2	b7lny2	NOUN
fsr-3891	185	20	1	1	NUM
fsr-3891	185	21	vi	vi	PROPN
fsr-3891	185	22	1	1	NUM
fsr-3891	185	23	zi	zi	NOUN
fsr-3891	185	24	(	(	PUNCT
fsr-3891	185	25	1	1	X
fsr-3891	185	26	)	)	PUNCT
fsr-3891	185	27	wheretc	wheretc	NOUN
fsr-3891	185	28	represents	represent	VERB
fsr-3891	185	29	the	the	DET
fsr-3891	185	30	firm	firm	NOUN
fsr-3891	185	31	’s	’s	PART
fsr-3891	185	32	total	total	ADJ
fsr-3891	185	33	cost.tc	cost.tc	NOUN
fsr-3891	185	34	(	(	PUNCT
fsr-3891	185	35	.	.	PUNCT
fsr-3891	185	36	)	)	PUNCT
fsr-3891	185	37	is	be	AUX
fsr-3891	185	38	the	the	DET
fsr-3891	185	39	actual	actual	ADJ
fsr-3891	185	40	cost	cost	NOUN
fsr-3891	185	41	frontier	frontier	NOUN
fsr-3891	185	42	that	that	PRON
fsr-3891	185	43	depends	depend	VERB
fsr-3891	185	44	on	on	ADP
fsr-3891	185	45	four	four	NUM
fsr-3891	185	46	input	input	NOUN
fsr-3891	185	47	prices	price	NOUN
fsr-3891	185	48	,	,	PUNCT
fsr-3891	185	49	pi	pi	NOUN
fsr-3891	185	50	,	,	PUNCT
fsr-3891	185	51	and	and	CCONJ
fsr-3891	185	52	a	a	DET
fsr-3891	185	53	single	single	ADJ
fsr-3891	185	54	output	output	NOUN
fsr-3891	185	55	,	,	PUNCT
fsr-3891	185	56	y.	y.	PROPN
fsr-3891	185	57	zi	zi	PROPN
fsr-3891	185	58	andvi	andvi	PROPN
fsr-3891	185	59	represent	represent	VERB
fsr-3891	185	60	a	a	DET
fsr-3891	185	61	composed	compose	VERB
fsr-3891	185	62	or	or	CCONJ
fsr-3891	185	63	two	two	NUM
fsr-3891	185	64	-	-	PUNCT
fsr-3891	185	65	part	part	NOUN
fsr-3891	185	66	error	error	NOUN
fsr-3891	185	67	term	term	NOUN
fsr-3891	185	68	.	.	PUNCT
fsr-3891	186	1	zi	zi	NOUN
fsr-3891	186	2	is	be	AUX
fsr-3891	186	3	the	the	DET
fsr-3891	186	4	non	non	ADJ
fsr-3891	186	5	-	-	ADJ
fsr-3891	186	6	negative	negative	ADJ
fsr-3891	186	7	stochastic	stochastic	ADJ
fsr-3891	186	8	error	error	NOUN
fsr-3891	186	9	term	term	NOUN
fsr-3891	186	10	reflecting	reflect	VERB
fsr-3891	186	11	firm	firm	ADJ
fsr-3891	186	12	inefficiency	inefficiency	NOUN
fsr-3891	186	13	,	,	PUNCT
fsr-3891	186	14	and	and	CCONJ
fsr-3891	186	15	(	(	PUNCT
fsr-3891	186	16	vi	vi	NOUN
fsr-3891	186	17	)	)	PUNCT
fsr-3891	186	18	,	,	PUNCT
fsr-3891	186	19	is	be	AUX
fsr-3891	186	20	the	the	DET
fsr-3891	186	21	symmetric	symmetric	ADJ
fsr-3891	186	22	,	,	PUNCT
fsr-3891	186	23	two	two	NUM
fsr-3891	186	24	-	-	PUNCT
fsr-3891	186	25	sided	side	VERB
fsr-3891	186	26	error	error	NOUN
fsr-3891	186	27	term	term	NOUN
fsr-3891	186	28	that	that	PRON
fsr-3891	186	29	captures	capture	VERB
fsr-3891	186	30	other	other	ADJ
fsr-3891	186	31	deviations	deviation	NOUN
fsr-3891	186	32	from	from	ADP
fsr-3891	186	33	the	the	DET
fsr-3891	186	34	frontier	frontier	NOUN
fsr-3891	186	35	such	such	ADJ
fsr-3891	186	36	as	as	ADP
fsr-3891	186	37	measurement	measurement	NOUN
fsr-3891	186	38	error	error	NOUN
fsr-3891	186	39	.	.	PUNCT
fsr-3891	187	1	we	we	PRON
fsr-3891	187	2	make	make	VERB
fsr-3891	187	3	the	the	DET
fsr-3891	187	4	usual	usual	ADJ
fsr-3891	187	5	assumption	assumption	NOUN
fsr-3891	187	6	about	about	ADP
fsr-3891	187	7	the	the	DET
fsr-3891	187	8	two	two	NUM
fsr-3891	187	9	-	-	PUNCT
fsr-3891	187	10	sided	side	VERB
fsr-3891	187	11	error	error	NOUN
fsr-3891	187	12	term	term	NOUN
fsr-3891	187	13	,	,	PUNCT
fsr-3891	187	14	vi	vi	PROPN
fsr-3891	187	15	;	;	PUNCT
fsr-3891	187	16	iid	iid	VERB
fsr-3891	187	17	n(0	n(0	PROPN
fsr-3891	187	18	,	,	PUNCT
fsr-3891	187	19	s2	s2	PROPN
fsr-3891	187	20	)	)	PUNCT
fsr-3891	187	21	.	.	PUNCT
fsr-3891	188	1	for	for	ADP
fsr-3891	188	2	the	the	DET
fsr-3891	188	3	non	non	ADJ
fsr-3891	188	4	-	-	ADJ
fsr-3891	188	5	negative	negative	ADJ
fsr-3891	188	6	,	,	PUNCT
fsr-3891	188	7	one	one	NUM
fsr-3891	188	8	-	-	PUNCT
fsr-3891	188	9	sided	side	VERB
fsr-3891	188	10	error	error	NOUN
fsr-3891	188	11	term	term	NOUN
fsr-3891	188	12	,	,	PUNCT
fsr-3891	188	13	we	we	PRON
fsr-3891	188	14	assumezi	assumezi	VERB
fsr-3891	188	15	follows	follow	VERB
fsr-3891	188	16	an	an	DET
fsr-3891	188	17	exponential	exponential	ADJ
fsr-3891	188	18	distribution	distribution	NOUN
fsr-3891	188	19	with	with	ADP
fsr-3891	188	20	shape	shape	NOUN
fsr-3891	188	21	parameterl	parameterl	NOUN
fsr-3891	188	22	that	that	PRON
fsr-3891	188	23	defines	define	VERB
fsr-3891	188	24	both	both	CCONJ
fsr-3891	188	25	the	the	DET
fsr-3891	188	26	mean	mean	NOUN
fsr-3891	188	27	and	and	CCONJ
fsr-3891	188	28	variance	variance	NOUN
fsr-3891	188	29	of	of	ADP
fsr-3891	188	30	the	the	DET
fsr-3891	188	31	exponential	exponential	ADJ
fsr-3891	188	32	distribution	distribution	NOUN
fsr-3891	188	33	.	.	PUNCT
fsr-3891	189	1	in	in	ADP
fsr-3891	189	2	our	our	PRON
fsr-3891	189	3	analysis	analysis	NOUN
fsr-3891	189	4	,	,	PUNCT
fsr-3891	189	5	we	we	PRON
fsr-3891	189	6	allowl	allowl	VERB
fsr-3891	189	7	to	to	PART
fsr-3891	189	8	take	take	VERB
fsr-3891	189	9	on	on	ADP
fsr-3891	189	10	two	two	NUM
fsr-3891	189	11	different	different	ADJ
fsr-3891	189	12	values	value	NOUN
fsr-3891	189	13	,	,	PUNCT
fsr-3891	189	14	l1	l1	PROPN
fsr-3891	189	15	for	for	ADP
fsr-3891	189	16	affinity	affinity	NOUN
fsr-3891	189	17	firms	firm	NOUN
fsr-3891	189	18	and	and	CCONJ
fsr-3891	189	19	l2	l2	NOUN
fsr-3891	189	20	for	for	ADP
fsr-3891	189	21	non	non	ADJ
fsr-3891	189	22	-	-	ADJ
fsr-3891	189	23	affinity	affinity	ADJ
fsr-3891	189	24	firms	firm	NOUN
fsr-3891	189	25	.	.	PUNCT
fsr-3891	190	1	this	this	PRON
fsr-3891	190	2	allows	allow	VERB
fsr-3891	190	3	for	for	ADP
fsr-3891	190	4	the	the	DET
fsr-3891	190	5	possibility	possibility	NOUN
fsr-3891	190	6	of	of	ADP
fsr-3891	190	7	different	different	ADJ
fsr-3891	190	8	mean	mean	NOUN
fsr-3891	190	9	inefficiency	inefficiency	NOUN
fsr-3891	190	10	across	across	ADP
fsr-3891	190	11	the	the	DET
fsr-3891	190	12	two	two	NUM
fsr-3891	190	13	groups	group	NOUN
fsr-3891	190	14	of	of	ADP
fsr-3891	190	15	real	real	ADJ
fsr-3891	190	16	estate	estate	NOUN
fsr-3891	190	17	brokerage	brokerage	NOUN
fsr-3891	190	18	firms	firm	NOUN
fsr-3891	190	19	.	.	PUNCT
fsr-3891	191	1	traditional	traditional	ADJ
fsr-3891	191	2	approaches	approach	NOUN
fsr-3891	191	3	estimate	estimate	VERB
fsr-3891	191	4	eq	eq	ADJ
fsr-3891	191	5	.	.	PUNCT
fsr-3891	192	1	(	(	PUNCT
fsr-3891	192	2	1	1	NUM
fsr-3891	192	3	)	)	PUNCT
fsr-3891	192	4	by	by	ADP
fsr-3891	192	5	using	use	VERB
fsr-3891	192	6	either	either	CCONJ
fsr-3891	192	7	a	a	DET
fsr-3891	192	8	corrected	correct	VERB
fsr-3891	192	9	least	least	ADJ
fsr-3891	192	10	squares	square	NOUN
fsr-3891	192	11	approach	approach	NOUN
fsr-3891	192	12	or	or	CCONJ
fsr-3891	192	13	by	by	ADP
fsr-3891	192	14	maximum	maximum	ADJ
fsr-3891	192	15	likelihood	likelihood	NOUN
fsr-3891	192	16	.	.	PUNCT
fsr-3891	193	1	in	in	ADP
fsr-3891	193	2	this	this	DET
fsr-3891	193	3	paper	paper	NOUN
fsr-3891	193	4	,	,	PUNCT
fsr-3891	193	5	we	we	PRON
fsr-3891	193	6	use	use	VERB
fsr-3891	193	7	a	a	DET
fsr-3891	193	8	bayesian	bayesian	NOUN
fsr-3891	193	9	estimation	estimation	NOUN
fsr-3891	193	10	procedure	procedure	NOUN
fsr-3891	193	11	.	.	PUNCT
fsr-3891	194	1	with	with	ADP
fsr-3891	194	2	a	a	DET
fsr-3891	194	3	bayesian	bayesian	NOUN
fsr-3891	194	4	approach	approach	NOUN
fsr-3891	194	5	,	,	PUNCT
fsr-3891	194	6	we	we	PRON
fsr-3891	194	7	can	can	AUX
fsr-3891	194	8	use	use	VERB
fsr-3891	194	9	prior	prior	ADJ
fsr-3891	194	10	information	information	NOUN
fsr-3891	194	11	about	about	ADP
fsr-3891	194	12	parameters	parameter	NOUN
fsr-3891	194	13	from	from	ADP
fsr-3891	194	14	economic	economic	ADJ
fsr-3891	194	15	theory	theory	NOUN
fsr-3891	194	16	and/or	and/or	CCONJ
fsr-3891	194	17	previous	previous	ADJ
fsr-3891	194	18	studies	study	NOUN
fsr-3891	194	19	.	.	PUNCT
fsr-3891	195	1	unlike	unlike	ADP
fsr-3891	195	2	the	the	DET
fsr-3891	195	3	traditional	traditional	ADJ
fsr-3891	195	4	statistics	statistic	NOUN
fsr-3891	195	5	,	,	PUNCT
fsr-3891	195	6	in	in	ADP
fsr-3891	195	7	a	a	DET
fsr-3891	195	8	simulation	simulation	NOUN
fsr-3891	195	9	type	type	NOUN
fsr-3891	195	10	procedure	procedure	NOUN
fsr-3891	195	11	,	,	PUNCT
fsr-3891	195	12	we	we	PRON
fsr-3891	195	13	can	can	AUX
fsr-3891	195	14	calculate	calculate	VERB
fsr-3891	195	15	the	the	DET
fsr-3891	195	16	precision	precision	NOUN
fsr-3891	195	17	of	of	ADP
fsr-3891	195	18	all	all	DET
fsr-3891	195	19	parameter	parameter	NOUN
fsr-3891	195	20	values	value	NOUN
fsr-3891	195	21	,	,	PUNCT
fsr-3891	195	22	including	include	VERB
fsr-3891	195	23	individual	individual	ADJ
fsr-3891	195	24	firm	firm	ADJ
fsr-3891	195	25	efficiency	efficiency	NOUN
fsr-3891	195	26	and	and	CCONJ
fsr-3891	195	27	the	the	DET
fsr-3891	195	28	returns	return	NOUN
fsr-3891	195	29	to	to	PART
fsr-3891	195	30	scale	scale	VERB
fsr-3891	195	31	,	,	PUNCT
fsr-3891	195	32	by	by	ADP
fsr-3891	195	33	reporting	report	VERB
fsr-3891	195	34	a	a	DET
fsr-3891	195	35	90	90	NUM
fsr-3891	195	36	%	%	NOUN
fsr-3891	195	37	confidence	confidence	NOUN
fsr-3891	195	38	interval	interval	NOUN
fsr-3891	195	39	for	for	ADP
fsr-3891	195	40	each	each	DET
fsr-3891	195	41	parameter	parameter	NOUN
fsr-3891	195	42	.	.	PUNCT
fsr-3891	196	1	lastly	lastly	ADV
fsr-3891	196	2	,	,	PUNCT
fsr-3891	196	3	the	the	DET
fsr-3891	196	4	bayesian	bayesian	NOUN
fsr-3891	196	5	technique	technique	NOUN
fsr-3891	196	6	allows	allow	VERB
fsr-3891	196	7	us	we	PRON
fsr-3891	196	8	to	to	PART
fsr-3891	196	9	estimate	estimate	VERB
fsr-3891	196	10	group	group	NOUN
fsr-3891	196	11	type	type	NOUN
fsr-3891	196	12	efficiency	efficiency	NOUN
fsr-3891	196	13	under	under	ADP
fsr-3891	196	14	a	a	DET
fsr-3891	196	15	single	single	ADJ
fsr-3891	196	16	efficient	efficient	ADJ
fsr-3891	196	17	frontier	frontier	NOUN
fsr-3891	196	18	.	.	PUNCT
fsr-3891	197	1	that	that	PRON
fsr-3891	197	2	is	is	ADV
fsr-3891	197	3	,	,	PUNCT
fsr-3891	197	4	we	we	PRON
fsr-3891	197	5	provide	provide	VERB
fsr-3891	197	6	for	for	ADP
fsr-3891	197	7	inefficiency	inefficiency	NOUN
fsr-3891	197	8	estimates	estimate	NOUN
fsr-3891	197	9	for	for	ADP
fsr-3891	197	10	two	two	NUM
fsr-3891	197	11	groups	group	NOUN
fsr-3891	197	12	in	in	ADP
fsr-3891	197	13	our	our	PRON
fsr-3891	197	14	sample	sample	NOUN
fsr-3891	197	15	under	under	ADP
fsr-3891	197	16	a	a	DET
fsr-3891	197	17	single	single	ADJ
fsr-3891	197	18	cost	cost	NOUN
fsr-3891	197	19	frontier	frontier	NOUN
fsr-3891	197	20	.	.	PUNCT
fsr-3891	198	1	this	this	DET
fsr-3891	198	2	methodology	methodology	NOUN
fsr-3891	198	3	is	be	AUX
fsr-3891	198	4	superior	superior	ADJ
fsr-3891	198	5	to	to	ADP
fsr-3891	198	6	estimating	estimate	VERB
fsr-3891	198	7	two	two	NUM
fsr-3891	198	8	separate	separate	ADJ
fsr-3891	198	9	frontiers	frontier	NOUN
fsr-3891	198	10	—	—	PUNCT
fsr-3891	198	11	one	one	NUM
fsr-3891	198	12	for	for	ADP
fsr-3891	198	13	affinity	affinity	NOUN
fsr-3891	198	14	firms	firm	NOUN
fsr-3891	198	15	and	and	CCONJ
fsr-3891	198	16	another	another	PRON
fsr-3891	198	17	for	for	ADP
fsr-3891	198	18	non	non	ADJ
fsr-3891	198	19	-	-	ADJ
fsr-3891	198	20	affinity	affinity	ADJ
fsr-3891	198	21	firms	firm	NOUN
fsr-3891	198	22	because	because	SCONJ
fsr-3891	198	23	frontiers	frontier	NOUN
fsr-3891	198	24	tend	tend	VERB
fsr-3891	198	25	to	to	PART
fsr-3891	198	26	cross	cross	VERB
fsr-3891	198	27	,	,	PUNCT
fsr-3891	198	28	making	make	VERB
fsr-3891	198	29	it	it	PRON
fsr-3891	198	30	impossible	impossible	ADJ
fsr-3891	198	31	to	to	PART
fsr-3891	198	32	interpret	interpret	VERB
fsr-3891	198	33	a	a	DET
fsr-3891	198	34	single	single	ADJ
fsr-3891	198	35	firm	firm	NOUN
fsr-3891	198	36	’s	’s	PART
fsr-3891	198	37	technical	technical	ADJ
fsr-3891	198	38	efficiency	efficiency	NOUN
fsr-3891	198	39	(	(	PUNCT
fsr-3891	198	40	refer	refer	VERB
fsr-3891	198	41	to	to	ADP
fsr-3891	198	42	lewis	lewis	PROPN
fsr-3891	198	43	and	and	CCONJ
fsr-3891	198	44	anderson	anderson	PROPN
fsr-3891	198	45	,	,	PUNCT
fsr-3891	198	46	1999	1999	NUM
fsr-3891	198	47	for	for	ADP
fsr-3891	198	48	a	a	DET
fsr-3891	198	49	detailed	detailed	ADJ
fsr-3891	198	50	methodological	methodological	ADJ
fsr-3891	198	51	discussion	discussion	NOUN
fsr-3891	198	52	on	on	ADP
fsr-3891	198	53	the	the	DET
fsr-3891	198	54	advantages	advantage	NOUN
fsr-3891	198	55	of	of	ADP
fsr-3891	198	56	estimating	estimate	VERB
fsr-3891	198	57	the	the	DET
fsr-3891	198	58	condi191d	condi191d	PROPN
fsr-3891	198	59	.	.	PUNCT
fsr-3891	199	1	lewis	lewis	PROPN
fsr-3891	199	2	et	et	PROPN
fsr-3891	199	3	al	al	PROPN
fsr-3891	199	4	.	.	PUNCT
fsr-3891	199	5	/	/	SYM
fsr-3891	199	6	financial	financial	ADJ
fsr-3891	199	7	services	service	NOUN
fsr-3891	199	8	review	review	VERB
fsr-3891	199	9	8	8	NUM
fsr-3891	199	10	(	(	PUNCT
fsr-3891	199	11	1999	1999	NUM
fsr-3891	199	12	)	)	PUNCT
fsr-3891	199	13	183–197	183–197	NUM
fsr-3891	199	14	tional	tional	ADJ
fsr-3891	199	15	efficient	efficient	ADJ
fsr-3891	199	16	frontier	frontier	NOUN
fsr-3891	199	17	)	)	PUNCT
fsr-3891	199	18	.	.	PUNCT
fsr-3891	200	1	lastly	lastly	ADV
fsr-3891	200	2	,	,	PUNCT
fsr-3891	200	3	from	from	ADP
fsr-3891	200	4	the	the	DET
fsr-3891	200	5	estimated	estimate	VERB
fsr-3891	200	6	parameters	parameter	NOUN
fsr-3891	200	7	,	,	PUNCT
fsr-3891	200	8	we	we	PRON
fsr-3891	200	9	compute	compute	VERB
fsr-3891	200	10	the	the	DET
fsr-3891	200	11	odds	odd	NOUN
fsr-3891	200	12	that	that	SCONJ
fsr-3891	200	13	affinity	affinity	NOUN
fsr-3891	200	14	affiliated	affiliate	VERB
fsr-3891	200	15	brokerages	brokerage	NOUN
fsr-3891	200	16	are	be	AUX
fsr-3891	200	17	more	more	ADV
fsr-3891	200	18	efficient	efficient	ADJ
fsr-3891	200	19	than	than	ADP
fsr-3891	200	20	non	non	ADJ
fsr-3891	200	21	-	-	ADJ
fsr-3891	200	22	affinity	affinity	ADJ
fsr-3891	200	23	firms	firm	NOUN
fsr-3891	200	24	.	.	PUNCT
fsr-3891	201	1	4.3	4.3	NUM
fsr-3891	201	2	.	.	PUNCT
fsr-3891	201	3	incorporating	incorporate	VERB
fsr-3891	201	4	bayes	bayes	NOUN
fsr-3891	201	5	rule	rule	NOUN
fsr-3891	201	6	and	and	CCONJ
fsr-3891	201	7	the	the	DET
fsr-3891	201	8	stochastic	stochastic	ADJ
fsr-3891	201	9	frontier	frontier	NOUN
fsr-3891	201	10	methodology	methodology	NOUN
fsr-3891	201	11	in	in	ADP
fsr-3891	201	12	this	this	DET
fsr-3891	201	13	paper	paper	NOUN
fsr-3891	201	14	we	we	PRON
fsr-3891	201	15	use	use	VERB
fsr-3891	201	16	bayes	bayes	NOUN
fsr-3891	201	17	rule	rule	VERB
fsr-3891	201	18	to	to	PART
fsr-3891	201	19	combine	combine	VERB
fsr-3891	201	20	our	our	PRON
fsr-3891	201	21	prior	prior	ADJ
fsr-3891	201	22	knowledge	knowledge	NOUN
fsr-3891	201	23	,	,	PUNCT
fsr-3891	201	24	which	which	PRON
fsr-3891	201	25	we	we	PRON
fsr-3891	201	26	call	call	VERB
fsr-3891	201	27	our	our	PRON
fsr-3891	201	28	prior	prior	ADJ
fsr-3891	201	29	density	density	NOUN
fsr-3891	201	30	function	function	NOUN
fsr-3891	201	31	with	with	ADP
fsr-3891	201	32	the	the	DET
fsr-3891	201	33	knowledge	knowledge	NOUN
fsr-3891	201	34	we	we	PRON
fsr-3891	201	35	gather	gather	VERB
fsr-3891	201	36	from	from	ADP
fsr-3891	201	37	the	the	DET
fsr-3891	201	38	data	datum	NOUN
fsr-3891	201	39	described	describe	VERB
fsr-3891	201	40	by	by	ADP
fsr-3891	201	41	the	the	DET
fsr-3891	201	42	likelihood	likelihood	NOUN
fsr-3891	201	43	function	function	NOUN
fsr-3891	201	44	to	to	PART
fsr-3891	201	45	form	form	VERB
fsr-3891	201	46	a	a	DET
fsr-3891	201	47	posterior	posterior	ADJ
fsr-3891	201	48	density	density	NOUN
fsr-3891	201	49	function	function	NOUN
fsr-3891	201	50	.	.	PUNCT
fsr-3891	202	1	the	the	DET
fsr-3891	202	2	expected	expect	VERB
fsr-3891	202	3	value	value	NOUN
fsr-3891	202	4	of	of	ADP
fsr-3891	202	5	the	the	DET
fsr-3891	202	6	posterior	posterior	ADJ
fsr-3891	202	7	density	density	NOUN
fsr-3891	202	8	distribution	distribution	NOUN
fsr-3891	202	9	is	be	AUX
fsr-3891	202	10	the	the	DET
fsr-3891	202	11	weighted	weight	VERB
fsr-3891	202	12	-	-	PUNCT
fsr-3891	202	13	average	average	NOUN
fsr-3891	202	14	of	of	ADP
fsr-3891	202	15	the	the	DET
fsr-3891	202	16	prior	prior	ADJ
fsr-3891	202	17	density	density	NOUN
fsr-3891	202	18	function	function	NOUN
fsr-3891	202	19	and	and	CCONJ
fsr-3891	202	20	the	the	DET
fsr-3891	202	21	likelihood	likelihood	NOUN
fsr-3891	202	22	function	function	NOUN
fsr-3891	202	23	.	.	PUNCT
fsr-3891	203	1	the	the	DET
fsr-3891	203	2	more	more	ADJ
fsr-3891	203	3	variance	variance	NOUN
fsr-3891	203	4	or	or	CCONJ
fsr-3891	203	5	uncertainty	uncertainty	NOUN
fsr-3891	203	6	there	there	PRON
fsr-3891	203	7	is	be	VERB
fsr-3891	203	8	in	in	ADP
fsr-3891	203	9	the	the	DET
fsr-3891	203	10	likelihood	likelihood	NOUN
fsr-3891	203	11	function	function	NOUN
fsr-3891	203	12	or	or	CCONJ
fsr-3891	203	13	the	the	DET
fsr-3891	203	14	smaller	small	ADJ
fsr-3891	203	15	is	be	AUX
fsr-3891	203	16	the	the	DET
fsr-3891	203	17	observed	observe	VERB
fsr-3891	203	18	sample	sample	NOUN
fsr-3891	203	19	data	datum	NOUN
fsr-3891	203	20	set	set	VERB
fsr-3891	203	21	,	,	PUNCT
fsr-3891	203	22	the	the	DET
fsr-3891	203	23	more	more	ADJ
fsr-3891	203	24	emphasis	emphasis	NOUN
fsr-3891	203	25	the	the	DET
fsr-3891	203	26	prior	prior	ADJ
fsr-3891	203	27	distribution	distribution	NOUN
fsr-3891	203	28	has	have	VERB
fsr-3891	203	29	on	on	ADP
fsr-3891	203	30	the	the	DET
fsr-3891	203	31	posterior	posterior	NOUN
fsr-3891	203	32	.	.	PUNCT
fsr-3891	204	1	the	the	DET
fsr-3891	204	2	more	more	ADJ
fsr-3891	204	3	uncertainty	uncertainty	NOUN
fsr-3891	204	4	associated	associate	VERB
fsr-3891	204	5	with	with	ADP
fsr-3891	204	6	the	the	DET
fsr-3891	204	7	prior	prior	ADJ
fsr-3891	204	8	density	density	NOUN
fsr-3891	204	9	function	function	NOUN
fsr-3891	204	10	and	and	CCONJ
fsr-3891	204	11	the	the	DET
fsr-3891	204	12	more	more	ADV
fsr-3891	204	13	observed	observed	ADJ
fsr-3891	204	14	data	datum	NOUN
fsr-3891	204	15	,	,	PUNCT
fsr-3891	204	16	more	more	ADJ
fsr-3891	204	17	emphasis	emphasis	NOUN
fsr-3891	204	18	is	be	AUX
fsr-3891	204	19	given	give	VERB
fsr-3891	204	20	to	to	ADP
fsr-3891	204	21	the	the	DET
fsr-3891	204	22	data	datum	NOUN
fsr-3891	204	23	described	describe	VERB
fsr-3891	204	24	by	by	ADP
fsr-3891	204	25	likelihood	likelihood	NOUN
fsr-3891	204	26	function	function	NOUN
fsr-3891	204	27	.	.	PUNCT
fsr-3891	205	1	in	in	ADP
fsr-3891	205	2	other	other	ADJ
fsr-3891	205	3	words	word	NOUN
fsr-3891	205	4	,	,	PUNCT
fsr-3891	205	5	the	the	DET
fsr-3891	205	6	data	data	NOUN
fsr-3891	205	7	becomes	become	VERB
fsr-3891	205	8	more	more	ADV
fsr-3891	205	9	important	important	ADJ
fsr-3891	205	10	than	than	ADP
fsr-3891	205	11	priors	prior	NOUN
fsr-3891	205	12	as	as	ADP
fsr-3891	205	13	the	the	DET
fsr-3891	205	14	certainty	certainty	NOUN
fsr-3891	205	15	and	and	CCONJ
fsr-3891	205	16	quantity	quantity	NOUN
fsr-3891	205	17	of	of	ADP
fsr-3891	205	18	the	the	DET
fsr-3891	205	19	data	datum	NOUN
fsr-3891	205	20	increase	increase	NOUN
fsr-3891	205	21	.	.	PUNCT
fsr-3891	206	1	4.4	4.4	NUM
fsr-3891	206	2	.	.	PUNCT
fsr-3891	207	1	the	the	DET
fsr-3891	207	2	prior	prior	ADJ
fsr-3891	207	3	density	density	NOUN
fsr-3891	207	4	function	function	NOUN
fsr-3891	207	5	we	we	PRON
fsr-3891	207	6	choose	choose	VERB
fsr-3891	207	7	a	a	DET
fsr-3891	207	8	uniform	uniform	NOUN
fsr-3891	207	9	prior	prior	ADV
fsr-3891	207	10	for	for	ADP
fsr-3891	207	11	the	the	DET
fsr-3891	207	12	frontier	frontier	NOUN
fsr-3891	207	13	’s	’s	PART
fsr-3891	207	14	coefficients	coefficient	NOUN
fsr-3891	207	15	and	and	CCONJ
fsr-3891	207	16	the	the	DET
fsr-3891	207	17	standard	standard	ADJ
fsr-3891	207	18	error	error	NOUN
fsr-3891	207	19	of	of	ADP
fsr-3891	207	20	the	the	DET
fsr-3891	207	21	model	model	NOUN
fsr-3891	207	22	implying	imply	VERB
fsr-3891	207	23	that	that	SCONJ
fsr-3891	207	24	we	we	PRON
fsr-3891	207	25	do	do	AUX
fsr-3891	207	26	not	not	PART
fsr-3891	207	27	possess	possess	VERB
fsr-3891	207	28	any	any	DET
fsr-3891	207	29	prior	prior	ADJ
fsr-3891	207	30	knowledge	knowledge	NOUN
fsr-3891	207	31	about	about	ADP
fsr-3891	207	32	those	those	DET
fsr-3891	207	33	parameters	parameter	NOUN
fsr-3891	207	34	.	.	PUNCT
fsr-3891	208	1	and	and	CCONJ
fsr-3891	208	2	,	,	PUNCT
fsr-3891	208	3	as	as	SCONJ
fsr-3891	208	4	noted	note	VERB
fsr-3891	208	5	above	above	ADV
fsr-3891	208	6	,	,	PUNCT
fsr-3891	208	7	the	the	DET
fsr-3891	208	8	inefficiency	inefficiency	NOUN
fsr-3891	208	9	component	component	NOUN
fsr-3891	208	10	of	of	ADP
fsr-3891	208	11	the	the	DET
fsr-3891	208	12	two	two	NUM
fsr-3891	208	13	-	-	PUNCT
fsr-3891	208	14	part	part	NOUN
fsr-3891	208	15	error	error	NOUN
fsr-3891	208	16	term	term	NOUN
fsr-3891	208	17	is	be	AUX
fsr-3891	208	18	defined	define	VERB
fsr-3891	208	19	by	by	ADP
fsr-3891	208	20	an	an	DET
fsr-3891	208	21	exponential	exponential	ADJ
fsr-3891	208	22	distribution	distribution	NOUN
fsr-3891	208	23	withlj	withlj	ADP
fsr-3891	208	24	being	be	AUX
fsr-3891	208	25	the	the	DET
fsr-3891	208	26	shape	shape	NOUN
fsr-3891	208	27	parameter	parameter	NOUN
fsr-3891	208	28	that	that	PRON
fsr-3891	208	29	defines	define	VERB
fsr-3891	208	30	the	the	DET
fsr-3891	208	31	mean	mean	NOUN
fsr-3891	208	32	of	of	ADP
fsr-3891	208	33	the	the	DET
fsr-3891	208	34	exponential	exponential	ADJ
fsr-3891	208	35	density	density	NOUN
fsr-3891	208	36	function	function	NOUN
fsr-3891	208	37	conditional	conditional	ADJ
fsr-3891	208	38	on	on	ADP
fsr-3891	208	39	whether	whether	SCONJ
fsr-3891	208	40	the	the	DET
fsr-3891	208	41	firm	firm	NOUN
fsr-3891	208	42	is	be	AUX
fsr-3891	208	43	an	an	DET
fsr-3891	208	44	affinity	affinity	NOUN
fsr-3891	208	45	member	member	NOUN
fsr-3891	208	46	or	or	CCONJ
fsr-3891	208	47	not	not	PART
fsr-3891	208	48	.	.	PUNCT
fsr-3891	209	1	j	j	PROPN
fsr-3891	209	2	takes	take	VERB
fsr-3891	209	3	on	on	ADP
fsr-3891	209	4	a	a	DET
fsr-3891	209	5	value	value	NOUN
fsr-3891	209	6	of	of	ADP
fsr-3891	209	7	one	one	NUM
fsr-3891	209	8	if	if	SCONJ
fsr-3891	209	9	the	the	DET
fsr-3891	209	10	firm	firm	ADJ
fsr-3891	209	11	partners	partner	NOUN
fsr-3891	209	12	in	in	ADP
fsr-3891	209	13	an	an	DET
fsr-3891	209	14	affinity	affinity	NOUN
fsr-3891	209	15	relationship	relationship	NOUN
fsr-3891	209	16	and	and	CCONJ
fsr-3891	209	17	a	a	DET
fsr-3891	209	18	two	two	NUM
fsr-3891	209	19	if	if	SCONJ
fsr-3891	209	20	the	the	DET
fsr-3891	209	21	firm	firm	NOUN
fsr-3891	209	22	is	be	AUX
fsr-3891	209	23	not	not	PART
fsr-3891	209	24	affiliated	affiliate	VERB
fsr-3891	209	25	with	with	ADP
fsr-3891	209	26	an	an	DET
fsr-3891	209	27	affinity	affinity	NOUN
fsr-3891	209	28	.	.	PUNCT
fsr-3891	210	1	as	as	ADP
fsr-3891	210	2	in	in	ADP
fsr-3891	210	3	previous	previous	ADJ
fsr-3891	210	4	studies	study	NOUN
fsr-3891	210	5	we	we	PRON
fsr-3891	210	6	chose	choose	VERB
fsr-3891	210	7	a	a	DET
fsr-3891	210	8	gamma	gamma	NOUN
fsr-3891	210	9	prior	prior	ADJ
fsr-3891	210	10	forl21	forl21	NOUN
fsr-3891	210	11	.	.	PUNCT
fsr-3891	210	12	,	,	PUNCT
fsr-3891	210	13	and	and	CCONJ
fsr-3891	210	14	set	set	VERB
fsr-3891	210	15	the	the	DET
fsr-3891	210	16	prior	prior	ADJ
fsr-3891	210	17	industry	industry	NOUN
fsr-3891	210	18	efficiency	efficiency	NOUN
fsr-3891	210	19	measure	measure	NOUN
fsr-3891	210	20	to	to	ADP
fsr-3891	210	21	0.875	0.875	NUM
fsr-3891	210	22	.	.	PUNCT
fsr-3891	211	1	monte	monte	PROPN
fsr-3891	211	2	carlo	carlo	PROPN
fsr-3891	211	3	integration	integration	NOUN
fsr-3891	211	4	allows	allow	VERB
fsr-3891	211	5	us	we	PRON
fsr-3891	211	6	to	to	PART
fsr-3891	211	7	derive	derive	VERB
fsr-3891	211	8	the	the	DET
fsr-3891	211	9	posterior	posterior	ADJ
fsr-3891	211	10	marginal	marginal	ADJ
fsr-3891	211	11	density	density	NOUN
fsr-3891	211	12	functions	function	NOUN
fsr-3891	211	13	that	that	PRON
fsr-3891	211	14	would	would	AUX
fsr-3891	211	15	otherwise	otherwise	ADV
fsr-3891	211	16	be	be	AUX
fsr-3891	211	17	impossible	impossible	ADJ
fsr-3891	211	18	to	to	PART
fsr-3891	211	19	derive	derive	VERB
fsr-3891	211	20	analytically	analytically	ADV
fsr-3891	211	21	.	.	PUNCT
fsr-3891	212	1	using	use	VERB
fsr-3891	212	2	the	the	DET
fsr-3891	212	3	gibbs	gibbs	PROPN
fsr-3891	212	4	sampler	sampler	NOUN
fsr-3891	212	5	we	we	PRON
fsr-3891	212	6	draw	draw	VERB
fsr-3891	212	7	25,000	25,000	NUM
fsr-3891	212	8	observations	observation	NOUN
fsr-3891	212	9	from	from	ADP
fsr-3891	212	10	the	the	DET
fsr-3891	212	11	conditional	conditional	ADJ
fsr-3891	212	12	joint	joint	ADJ
fsr-3891	212	13	probability	probability	NOUN
fsr-3891	212	14	distribution	distribution	NOUN
fsr-3891	212	15	functions	function	NOUN
fsr-3891	212	16	,	,	PUNCT
fsr-3891	212	17	dropping	drop	VERB
fsr-3891	212	18	the	the	DET
fsr-3891	212	19	first	first	ADJ
fsr-3891	212	20	5,000	5,000	NUM
fsr-3891	212	21	iterations	iteration	NOUN
fsr-3891	212	22	to	to	PART
fsr-3891	212	23	avoid	avoid	VERB
fsr-3891	212	24	sensitivity	sensitivity	NOUN
fsr-3891	212	25	to	to	ADP
fsr-3891	212	26	starting	start	VERB
fsr-3891	212	27	values	value	NOUN
fsr-3891	212	28	that	that	PRON
fsr-3891	212	29	may	may	AUX
fsr-3891	212	30	occur	occur	VERB
fsr-3891	212	31	.	.	PUNCT
fsr-3891	213	1	we	we	PRON
fsr-3891	213	2	use	use	VERB
fsr-3891	213	3	the	the	DET
fsr-3891	213	4	observations	observation	NOUN
fsr-3891	213	5	that	that	PRON
fsr-3891	213	6	we	we	PRON
fsr-3891	213	7	sample	sample	VERB
fsr-3891	213	8	to	to	PART
fsr-3891	213	9	form	form	VERB
fsr-3891	213	10	marginal	marginal	ADJ
fsr-3891	213	11	posterior	posterior	ADJ
fsr-3891	213	12	density	density	NOUN
fsr-3891	213	13	functions	function	NOUN
fsr-3891	213	14	for	for	ADP
fsr-3891	213	15	each	each	PRON
fsr-3891	213	16	of	of	ADP
fsr-3891	213	17	the	the	DET
fsr-3891	213	18	model	model	NOUN
fsr-3891	213	19	’s	’s	PART
fsr-3891	213	20	parameters	parameter	NOUN
fsr-3891	213	21	.	.	PUNCT
fsr-3891	214	1	from	from	ADP
fsr-3891	214	2	the	the	DET
fsr-3891	214	3	marginal	marginal	ADJ
fsr-3891	214	4	posterior	posterior	ADJ
fsr-3891	214	5	density	density	NOUN
fsr-3891	214	6	functions	function	NOUN
fsr-3891	214	7	,	,	PUNCT
fsr-3891	214	8	we	we	PRON
fsr-3891	214	9	calculate	calculate	VERB
fsr-3891	214	10	the	the	DET
fsr-3891	214	11	expected	expect	VERB
fsr-3891	214	12	value	value	NOUN
fsr-3891	214	13	and	and	CCONJ
fsr-3891	214	14	90	90	NUM
fsr-3891	214	15	%	%	NOUN
fsr-3891	214	16	confidence	confidence	NOUN
fsr-3891	214	17	intervals	interval	NOUN
fsr-3891	214	18	of	of	ADP
fsr-3891	214	19	each	each	PRON
fsr-3891	214	20	of	of	ADP
fsr-3891	214	21	the	the	DET
fsr-3891	214	22	model	model	NOUN
fsr-3891	214	23	’s	’s	PART
fsr-3891	214	24	parameters	parameter	NOUN
fsr-3891	214	25	,	,	PUNCT
fsr-3891	214	26	194	194	NUM
fsr-3891	214	27	in	in	ADV
fsr-3891	214	28	all	all	ADV
fsr-3891	214	29	.	.	PUNCT
fsr-3891	215	1	economic	economic	ADJ
fsr-3891	215	2	theory	theory	NOUN
fsr-3891	215	3	suggests	suggest	VERB
fsr-3891	215	4	that	that	SCONJ
fsr-3891	215	5	the	the	DET
fsr-3891	215	6	cost	cost	NOUN
fsr-3891	215	7	frontier	frontier	NOUN
fsr-3891	215	8	is	be	AUX
fsr-3891	215	9	monotonically	monotonically	ADV
fsr-3891	215	10	increasing	increase	VERB
fsr-3891	215	11	and	and	CCONJ
fsr-3891	215	12	concave	concave	VERB
fsr-3891	215	13	in	in	ADP
fsr-3891	215	14	input	input	NOUN
fsr-3891	215	15	prices	price	NOUN
fsr-3891	215	16	.	.	PUNCT
fsr-3891	216	1	another	another	DET
fsr-3891	216	2	requirement	requirement	NOUN
fsr-3891	216	3	imposed	impose	VERB
fsr-3891	216	4	by	by	ADP
fsr-3891	216	5	economic	economic	ADJ
fsr-3891	216	6	theory	theory	NOUN
fsr-3891	216	7	is	be	AUX
fsr-3891	216	8	that	that	SCONJ
fsr-3891	216	9	the	the	DET
fsr-3891	216	10	average	average	ADJ
fsr-3891	216	11	cost	cost	NOUN
fsr-3891	216	12	function	function	NOUN
fsr-3891	216	13	must	must	AUX
fsr-3891	216	14	be	be	AUX
fsr-3891	216	15	u	u	ADJ
fsr-3891	216	16	-	-	VERB
fsr-3891	216	17	shaped	shaped	ADJ
fsr-3891	216	18	.	.	PUNCT
fsr-3891	217	1	terrell	terrell	PROPN
fsr-3891	217	2	(	(	PUNCT
fsr-3891	217	3	1996	1996	NUM
fsr-3891	217	4	)	)	PUNCT
fsr-3891	217	5	demonstrates	demonstrate	VERB
fsr-3891	217	6	how	how	SCONJ
fsr-3891	217	7	to	to	PART
fsr-3891	217	8	impose	impose	VERB
fsr-3891	217	9	these	these	DET
fsr-3891	217	10	restrictions	restriction	NOUN
fsr-3891	217	11	.	.	PUNCT
fsr-3891	218	1	within	within	ADP
fsr-3891	218	2	the	the	DET
fsr-3891	218	3	prior	prior	NOUN
fsr-3891	218	4	,	,	PUNCT
fsr-3891	218	5	we	we	PRON
fsr-3891	218	6	restrict	restrict	VERB
fsr-3891	218	7	the	the	DET
fsr-3891	218	8	cost	cost	NOUN
fsr-3891	218	9	function	function	NOUN
fsr-3891	218	10	to	to	PART
fsr-3891	218	11	be	be	AUX
fsr-3891	218	12	monotonically	monotonically	ADV
fsr-3891	218	13	increasing	increase	VERB
fsr-3891	218	14	in	in	ADP
fsr-3891	218	15	input	input	NOUN
fsr-3891	218	16	prices	price	NOUN
fsr-3891	218	17	.	.	PUNCT
fsr-3891	219	1	in	in	ADP
fsr-3891	219	2	the	the	DET
fsr-3891	219	3	translog	translog	NOUN
fsr-3891	219	4	cost	cost	NOUN
fsr-3891	219	5	frontier	frontier	NOUN
fsr-3891	219	6	,	,	PUNCT
fsr-3891	219	7	this	this	PRON
fsr-3891	219	8	implies	imply	VERB
fsr-3891	219	9	that	that	SCONJ
fsr-3891	219	10	the	the	DET
fsr-3891	219	11	share	share	NOUN
fsr-3891	219	12	equations	equation	NOUN
fsr-3891	219	13	must	must	AUX
fsr-3891	219	14	all	all	ADV
fsr-3891	219	15	be	be	AUX
fsr-3891	219	16	positive	positive	ADJ
fsr-3891	219	17	.	.	PUNCT
fsr-3891	220	1	we	we	PRON
fsr-3891	220	2	also	also	ADV
fsr-3891	220	3	impose	impose	VERB
fsr-3891	220	4	the	the	DET
fsr-3891	220	5	cost	cost	NOUN
fsr-3891	220	6	frontier	frontier	NOUN
fsr-3891	220	7	to	to	PART
fsr-3891	220	8	be	be	AUX
fsr-3891	220	9	concave	concave	VERB
fsr-3891	220	10	in	in	ADP
fsr-3891	220	11	input	input	NOUN
fsr-3891	220	12	prices	price	NOUN
fsr-3891	220	13	.	.	PUNCT
fsr-3891	221	1	to	to	PART
fsr-3891	221	2	assure	assure	VERB
fsr-3891	221	3	that	that	SCONJ
fsr-3891	221	4	the	the	DET
fsr-3891	221	5	average	average	ADJ
fsr-3891	221	6	cost	cost	NOUN
fsr-3891	221	7	function	function	NOUN
fsr-3891	221	8	is	be	AUX
fsr-3891	221	9	u	u	NOUN
fsr-3891	221	10	-	-	VERB
fsr-3891	221	11	shaped	shape	VERB
fsr-3891	221	12	within	within	ADP
fsr-3891	221	13	the	the	DET
fsr-3891	221	14	translog	translog	NOUN
fsr-3891	221	15	model	model	NOUN
fsr-3891	221	16	specified	specify	VERB
fsr-3891	221	17	above	above	ADP
fsr-3891	221	18	we	we	PRON
fsr-3891	221	19	restrict	restrict	VERB
fsr-3891	221	20	the	the	DET
fsr-3891	221	21	partial	partial	ADJ
fsr-3891	221	22	derivative	derivative	NOUN
fsr-3891	221	23	of	of	ADP
fsr-3891	221	24	average	average	ADJ
fsr-3891	221	25	firm	firm	ADJ
fsr-3891	221	26	total	total	ADJ
fsr-3891	221	27	cost	cost	NOUN
fsr-3891	221	28	to	to	PART
fsr-3891	221	29	firm	firm	VERB
fsr-3891	221	30	output	output	NOUN
fsr-3891	221	31	(	(	PUNCT
fsr-3891	221	32	revenue	revenue	NOUN
fsr-3891	221	33	transactions	transaction	NOUN
fsr-3891	221	34	)	)	PUNCT
fsr-3891	221	35	to	to	PART
fsr-3891	221	36	be	be	AUX
fsr-3891	221	37	greater	great	ADJ
fsr-3891	221	38	than	than	ADP
fsr-3891	221	39	or	or	CCONJ
fsr-3891	221	40	equal	equal	ADJ
fsr-3891	221	41	to	to	ADP
fsr-3891	221	42	zero	zero	NUM
fsr-3891	221	43	at	at	ADP
fsr-3891	221	44	the	the	DET
fsr-3891	221	45	minimum	minimum	NOUN
fsr-3891	221	46	.	.	PUNCT
fsr-3891	222	1	192	192	NUM
fsr-3891	222	2	d.	d.	PROPN
fsr-3891	222	3	lewis	lewis	PROPN
fsr-3891	222	4	et	et	PROPN
fsr-3891	222	5	al	al	PROPN
fsr-3891	222	6	.	.	PUNCT
fsr-3891	222	7	/	/	SYM
fsr-3891	222	8	financial	financial	ADJ
fsr-3891	222	9	services	service	NOUN
fsr-3891	222	10	review	review	VERB
fsr-3891	222	11	8	8	NUM
fsr-3891	222	12	(	(	PUNCT
fsr-3891	222	13	1999	1999	NUM
fsr-3891	222	14	)	)	PUNCT
fsr-3891	222	15	183–197	183–197	NUM
fsr-3891	222	16	5	5	NUM
fsr-3891	222	17	.	.	PUNCT
fsr-3891	223	1	the	the	DET
fsr-3891	223	2	bayesian	bayesian	NOUN
fsr-3891	223	3	results	result	VERB
fsr-3891	223	4	5.1	5.1	NUM
fsr-3891	223	5	.	.	PUNCT
fsr-3891	224	1	the	the	DET
fsr-3891	224	2	efficiency	efficiency	NOUN
fsr-3891	224	3	results	result	VERB
fsr-3891	224	4	initially	initially	ADV
fsr-3891	224	5	,	,	PUNCT
fsr-3891	224	6	we	we	PRON
fsr-3891	224	7	estimate	estimate	VERB
fsr-3891	224	8	the	the	DET
fsr-3891	224	9	overall	overall	ADJ
fsr-3891	224	10	sample	sample	NOUN
fsr-3891	224	11	’s	’s	PART
fsr-3891	224	12	inefficiency	inefficiency	NOUN
fsr-3891	224	13	(	(	PUNCT
fsr-3891	224	14	l)using	l)use	VERB
fsr-3891	224	15	a	a	DET
fsr-3891	224	16	model	model	NOUN
fsr-3891	224	17	that	that	PRON
fsr-3891	224	18	does	do	AUX
fsr-3891	224	19	not	not	PART
fsr-3891	224	20	distinguish	distinguish	VERB
fsr-3891	224	21	differences	difference	NOUN
fsr-3891	224	22	in	in	ADP
fsr-3891	224	23	the	the	DET
fsr-3891	224	24	brokerage	brokerage	NOUN
fsr-3891	224	25	type	type	NOUN
fsr-3891	224	26	.	.	PUNCT
fsr-3891	225	1	in	in	ADP
fsr-3891	225	2	other	other	ADJ
fsr-3891	225	3	words	word	NOUN
fsr-3891	225	4	the	the	DET
fsr-3891	225	5	stochastic	stochastic	ADJ
fsr-3891	225	6	frontier	frontier	NOUN
fsr-3891	225	7	’s	’s	PART
fsr-3891	225	8	parameter	parameter	NOUN
fsr-3891	225	9	results	result	NOUN
fsr-3891	225	10	do	do	AUX
fsr-3891	225	11	not	not	PART
fsr-3891	225	12	take	take	VERB
fsr-3891	225	13	into	into	ADP
fsr-3891	225	14	account	account	NOUN
fsr-3891	225	15	that	that	SCONJ
fsr-3891	225	16	there	there	PRON
fsr-3891	225	17	may	may	AUX
fsr-3891	225	18	be	be	AUX
fsr-3891	225	19	differences	difference	NOUN
fsr-3891	225	20	in	in	ADP
fsr-3891	225	21	the	the	DET
fsr-3891	225	22	performance	performance	NOUN
fsr-3891	225	23	of	of	ADP
fsr-3891	225	24	affinity	affinity	NOUN
fsr-3891	225	25	brokerages	brokerage	NOUN
fsr-3891	225	26	and	and	CCONJ
fsr-3891	225	27	non	non	ADJ
fsr-3891	225	28	-	-	ADJ
fsr-3891	225	29	affinity	affinity	ADJ
fsr-3891	225	30	brokerages	brokerage	NOUN
fsr-3891	225	31	.	.	PUNCT
fsr-3891	226	1	the	the	DET
fsr-3891	226	2	restricted	restrict	VERB
fsr-3891	226	3	base	base	NOUN
fsr-3891	226	4	results	result	NOUN
fsr-3891	226	5	show	show	VERB
fsr-3891	226	6	that	that	SCONJ
fsr-3891	226	7	sample	sample	NOUN
fsr-3891	226	8	real	real	ADJ
fsr-3891	226	9	estate	estate	NOUN
fsr-3891	226	10	brokerage	brokerage	NOUN
fsr-3891	226	11	firms	firm	NOUN
fsr-3891	226	12	are	be	AUX
fsr-3891	226	13	approximately	approximately	ADV
fsr-3891	226	14	81.5	81.5	NUM
fsr-3891	226	15	%	%	NOUN
fsr-3891	226	16	efficient	efficient	ADJ
fsr-3891	226	17	.	.	PUNCT
fsr-3891	227	1	these	these	DET
fsr-3891	227	2	results	result	NOUN
fsr-3891	227	3	are	be	AUX
fsr-3891	227	4	consistent	consistent	ADJ
fsr-3891	227	5	with	with	ADP
fsr-3891	227	6	lewis	lewis	PROPN
fsr-3891	227	7	and	and	CCONJ
fsr-3891	227	8	anderson	anderson	PROPN
fsr-3891	227	9	(	(	PUNCT
fsr-3891	227	10	1999	1999	NUM
fsr-3891	227	11	)	)	PUNCT
fsr-3891	227	12	and	and	CCONJ
fsr-3891	227	13	anderson	anderson	PROPN
fsr-3891	227	14	,	,	PUNCT
fsr-3891	227	15	lewis	lewis	PROPN
fsr-3891	227	16	,	,	PUNCT
fsr-3891	227	17	and	and	CCONJ
fsr-3891	227	18	zumpano	zumpano	PROPN
fsr-3891	227	19	’s	’s	PART
fsr-3891	227	20	(	(	PUNCT
fsr-3891	227	21	2000b	2000b	NUM
fsr-3891	227	22	)	)	PUNCT
fsr-3891	227	23	conclusion	conclusion	NOUN
fsr-3891	227	24	that	that	SCONJ
fsr-3891	227	25	brokerages	brokerage	NOUN
fsr-3891	227	26	,	,	PUNCT
fsr-3891	227	27	overall	overall	ADV
fsr-3891	227	28	,	,	PUNCT
fsr-3891	227	29	are	be	AUX
fsr-3891	227	30	relatively	relatively	ADV
fsr-3891	227	31	efficient	efficient	ADJ
fsr-3891	227	32	.	.	PUNCT
fsr-3891	228	1	it	it	PRON
fsr-3891	228	2	is	be	AUX
fsr-3891	228	3	also	also	ADV
fsr-3891	228	4	consistent	consistent	ADJ
fsr-3891	228	5	with	with	ADP
fsr-3891	228	6	the	the	DET
fsr-3891	228	7	findings	finding	NOUN
fsr-3891	228	8	of	of	ADP
fsr-3891	228	9	anderson	anderson	PROPN
fsr-3891	228	10	,	,	PUNCT
fsr-3891	228	11	lewis	lewis	PROPN
fsr-3891	228	12	and	and	CCONJ
fsr-3891	228	13	zumpano	zumpano	PROPN
fsr-3891	228	14	(	(	PUNCT
fsr-3891	228	15	2000a	2000a	NUM
fsr-3891	228	16	)	)	PUNCT
fsr-3891	228	17	that	that	SCONJ
fsr-3891	228	18	firms	firm	NOUN
fsr-3891	228	19	become	become	VERB
fsr-3891	228	20	more	more	ADV
fsr-3891	228	21	inefficient	inefficient	ADJ
fsr-3891	228	22	as	as	SCONJ
fsr-3891	228	23	the	the	DET
fsr-3891	228	24	residential	residential	ADJ
fsr-3891	228	25	real	real	ADJ
fsr-3891	228	26	estate	estate	NOUN
fsr-3891	228	27	markets	market	NOUN
fsr-3891	228	28	strengthens	strengthen	VERB
fsr-3891	228	29	.	.	PUNCT
fsr-3891	229	1	by	by	ADP
fsr-3891	229	2	imposing	impose	VERB
fsr-3891	229	3	concavity	concavity	NOUN
fsr-3891	229	4	,	,	PUNCT
fsr-3891	229	5	monotonicity	monotonicity	NOUN
fsr-3891	229	6	,	,	PUNCT
fsr-3891	229	7	and	and	CCONJ
fsr-3891	229	8	the	the	DET
fsr-3891	229	9	u	u	NOUN
fsr-3891	229	10	-	-	ADJ
fsr-3891	229	11	shaped	shape	VERB
fsr-3891	229	12	average	average	ADJ
fsr-3891	229	13	cost	cost	NOUN
fsr-3891	229	14	restrictions	restriction	NOUN
fsr-3891	229	15	,	,	PUNCT
fsr-3891	229	16	the	the	DET
fsr-3891	229	17	confidence	confidence	NOUN
fsr-3891	229	18	intervals	interval	NOUN
fsr-3891	229	19	stated	state	VERB
fsr-3891	229	20	are	be	AUX
fsr-3891	229	21	much	much	ADV
fsr-3891	229	22	narrower	narrow	ADJ
fsr-3891	229	23	than	than	SCONJ
fsr-3891	229	24	if	if	SCONJ
fsr-3891	229	25	no	no	DET
fsr-3891	229	26	restrictions	restriction	NOUN
fsr-3891	229	27	had	have	AUX
fsr-3891	229	28	been	be	AUX
fsr-3891	229	29	applied	apply	VERB
fsr-3891	229	30	.	.	PUNCT
fsr-3891	230	1	subsequently	subsequently	ADV
fsr-3891	230	2	,	,	PUNCT
fsr-3891	230	3	we	we	PRON
fsr-3891	230	4	compute	compute	VERB
fsr-3891	230	5	efficiency	efficiency	NOUN
fsr-3891	230	6	measures	measure	NOUN
fsr-3891	230	7	contingent	contingent	ADJ
fsr-3891	230	8	upon	upon	SCONJ
fsr-3891	230	9	whether	whether	SCONJ
fsr-3891	230	10	the	the	DET
fsr-3891	230	11	firm	firm	NOUN
fsr-3891	230	12	has	have	AUX
fsr-3891	230	13	at	at	ADV
fsr-3891	230	14	least	least	ADV
fsr-3891	230	15	one	one	NUM
fsr-3891	230	16	affinity	affinity	NOUN
fsr-3891	230	17	relationship	relationship	NOUN
fsr-3891	230	18	or	or	CCONJ
fsr-3891	230	19	not	not	PART
fsr-3891	230	20	.	.	PUNCT
fsr-3891	231	1	the	the	DET
fsr-3891	231	2	results	result	NOUN
fsr-3891	231	3	of	of	ADP
fsr-3891	231	4	this	this	DET
fsr-3891	231	5	estimation	estimation	NOUN
fsr-3891	231	6	are	be	AUX
fsr-3891	231	7	reported	report	VERB
fsr-3891	231	8	in	in	ADP
fsr-3891	231	9	table	table	NOUN
fsr-3891	231	10	3	3	NUM
fsr-3891	231	11	.	.	PUNCT
fsr-3891	232	1	we	we	PRON
fsr-3891	232	2	find	find	VERB
fsr-3891	232	3	that	that	SCONJ
fsr-3891	232	4	the	the	DET
fsr-3891	232	5	sample	sample	NOUN
fsr-3891	232	6	firms	firm	NOUN
fsr-3891	232	7	with	with	ADP
fsr-3891	232	8	at	at	ADV
fsr-3891	232	9	least	least	ADV
fsr-3891	232	10	one	one	NUM
fsr-3891	232	11	affinity	affinity	NOUN
fsr-3891	232	12	relationship	relationship	NOUN
fsr-3891	232	13	are	be	AUX
fsr-3891	232	14	nearly	nearly	ADV
fsr-3891	232	15	nine	nine	NUM
fsr-3891	232	16	times	time	NOUN
fsr-3891	232	17	more	more	ADJ
fsr-3891	232	18	cost	cost	NOUN
fsr-3891	232	19	inefficient	inefficient	ADJ
fsr-3891	232	20	than	than	ADP
fsr-3891	232	21	firms	firm	NOUN
fsr-3891	232	22	that	that	PRON
fsr-3891	232	23	have	have	VERB
fsr-3891	232	24	no	no	DET
fsr-3891	232	25	affinity	affinity	NOUN
fsr-3891	232	26	relationships	relationship	NOUN
fsr-3891	232	27	.	.	PUNCT
fsr-3891	233	1	with	with	ADP
fsr-3891	233	2	the	the	DET
fsr-3891	233	3	restricted	restrict	VERB
fsr-3891	233	4	bayesian	bayesian	NOUN
fsr-3891	233	5	stochastic	stochastic	ADJ
fsr-3891	233	6	cost	cost	NOUN
fsr-3891	233	7	frontier	frontier	NOUN
fsr-3891	233	8	,	,	PUNCT
fsr-3891	233	9	affinity	affinity	NOUN
fsr-3891	233	10	firms	firm	NOUN
fsr-3891	233	11	are	be	AUX
fsr-3891	233	12	approximately	approximately	ADV
fsr-3891	233	13	35.2	35.2	NUM
fsr-3891	233	14	%	%	NOUN
fsr-3891	233	15	inefficient	inefficient	ADJ
fsr-3891	233	16	and	and	CCONJ
fsr-3891	233	17	non	non	ADJ
fsr-3891	233	18	-	-	ADJ
fsr-3891	233	19	affinity	affinity	ADJ
fsr-3891	233	20	firms	firm	NOUN
fsr-3891	233	21	are	be	AUX
fsr-3891	233	22	approximately	approximately	ADV
fsr-3891	233	23	4.2	4.2	NUM
fsr-3891	233	24	%	%	NOUN
fsr-3891	233	25	inefficient	inefficient	ADJ
fsr-3891	233	26	.	.	PUNCT
fsr-3891	234	1	this	this	PRON
fsr-3891	234	2	means	mean	VERB
fsr-3891	234	3	that	that	SCONJ
fsr-3891	234	4	the	the	DET
fsr-3891	234	5	average	average	ADJ
fsr-3891	234	6	affinity	affinity	NOUN
fsr-3891	234	7	participating	participate	VERB
fsr-3891	234	8	firm	firm	NOUN
fsr-3891	234	9	in	in	ADP
fsr-3891	234	10	the	the	DET
fsr-3891	234	11	sample	sample	NOUN
fsr-3891	234	12	could	could	AUX
fsr-3891	234	13	reduce	reduce	VERB
fsr-3891	234	14	its	its	PRON
fsr-3891	234	15	input	input	NOUN
fsr-3891	234	16	costs	cost	NOUN
fsr-3891	234	17	by	by	ADP
fsr-3891	234	18	35.2	35.2	NUM
fsr-3891	234	19	%	%	NOUN
fsr-3891	234	20	,	,	PUNCT
fsr-3891	234	21	without	without	ADP
fsr-3891	234	22	decreasing	decrease	VERB
fsr-3891	234	23	output	output	NOUN
fsr-3891	234	24	.	.	PUNCT
fsr-3891	235	1	on	on	ADP
fsr-3891	235	2	the	the	DET
fsr-3891	235	3	other	other	ADJ
fsr-3891	235	4	hand	hand	NOUN
fsr-3891	235	5	,	,	PUNCT
fsr-3891	235	6	non	non	ADJ
fsr-3891	235	7	-	-	ADJ
fsr-3891	235	8	affinity	affinity	ADJ
fsr-3891	235	9	sample	sample	NOUN
fsr-3891	235	10	firms	firm	NOUN
fsr-3891	235	11	could	could	AUX
fsr-3891	235	12	only	only	ADV
fsr-3891	235	13	reduce	reduce	VERB
fsr-3891	235	14	input	input	NOUN
fsr-3891	235	15	costs	cost	NOUN
fsr-3891	235	16	by	by	ADP
fsr-3891	235	17	4.2	4.2	NUM
fsr-3891	235	18	%	%	NOUN
fsr-3891	235	19	given	give	VERB
fsr-3891	235	20	their	their	PRON
fsr-3891	235	21	level	level	NOUN
fsr-3891	235	22	of	of	ADP
fsr-3891	235	23	output	output	NOUN
fsr-3891	235	24	.	.	PUNCT
fsr-3891	236	1	table	table	NOUN
fsr-3891	236	2	3	3	NUM
fsr-3891	236	3	also	also	ADV
fsr-3891	236	4	establishes	establish	VERB
fsr-3891	236	5	individual	individual	ADJ
fsr-3891	236	6	brokerage	brokerage	NOUN
fsr-3891	236	7	efficiencies	efficiency	NOUN
fsr-3891	236	8	for	for	ADP
fsr-3891	236	9	five	five	NUM
fsr-3891	236	10	arbitrary	arbitrary	ADJ
fsr-3891	236	11	affinity	affinity	NOUN
fsr-3891	236	12	affiliated	affiliate	VERB
fsr-3891	236	13	firms	firm	NOUN
fsr-3891	236	14	and	and	CCONJ
fsr-3891	236	15	five	five	NUM
fsr-3891	236	16	arbitrary	arbitrary	ADJ
fsr-3891	236	17	non	non	ADJ
fsr-3891	236	18	-	-	ADJ
fsr-3891	236	19	affinity	affinity	ADJ
fsr-3891	236	20	firms	firm	NOUN
fsr-3891	236	21	.	.	PUNCT
fsr-3891	237	1	as	as	SCONJ
fsr-3891	237	2	noted	note	VERB
fsr-3891	237	3	in	in	ADP
fsr-3891	237	4	the	the	DET
fsr-3891	237	5	table	table	NOUN
fsr-3891	237	6	,	,	PUNCT
fsr-3891	237	7	the	the	DET
fsr-3891	237	8	first	first	ADJ
fsr-3891	237	9	example	example	NOUN
fsr-3891	237	10	of	of	ADP
fsr-3891	237	11	the	the	DET
fsr-3891	237	12	affinity	affinity	NOUN
fsr-3891	237	13	firm	firm	NOUN
fsr-3891	237	14	shows	show	VERB
fsr-3891	237	15	that	that	SCONJ
fsr-3891	237	16	the	the	DET
fsr-3891	237	17	firm	firm	NOUN
fsr-3891	237	18	is	be	AUX
fsr-3891	237	19	approximately	approximately	ADV
fsr-3891	237	20	84.6	84.6	NUM
fsr-3891	237	21	%	%	NOUN
fsr-3891	237	22	efficient	efficient	ADJ
fsr-3891	237	23	,	,	PUNCT
fsr-3891	237	24	whereas	whereas	SCONJ
fsr-3891	237	25	the	the	DET
fsr-3891	237	26	first	first	ADJ
fsr-3891	237	27	example	example	NOUN
fsr-3891	237	28	of	of	ADP
fsr-3891	237	29	the	the	DET
fsr-3891	237	30	non	non	ADJ
fsr-3891	237	31	-	-	ADJ
fsr-3891	237	32	affinity	affinity	ADJ
fsr-3891	237	33	firm	firm	NOUN
fsr-3891	237	34	shows	show	VERB
fsr-3891	237	35	that	that	SCONJ
fsr-3891	237	36	it	it	PRON
fsr-3891	237	37	is	be	AUX
fsr-3891	237	38	approximately	approximately	ADV
fsr-3891	237	39	94.7	94.7	NUM
fsr-3891	237	40	%	%	NOUN
fsr-3891	237	41	efficient	efficient	ADJ
fsr-3891	237	42	.	.	PUNCT
fsr-3891	238	1	using	use	VERB
fsr-3891	238	2	the	the	DET
fsr-3891	238	3	posterior	posterior	ADJ
fsr-3891	238	4	marginal	marginal	ADJ
fsr-3891	238	5	density	density	NOUN
fsr-3891	238	6	functions	function	NOUN
fsr-3891	238	7	constructed	construct	VERB
fsr-3891	238	8	using	use	VERB
fsr-3891	238	9	the	the	DET
fsr-3891	238	10	gibbs	gibbs	PROPN
fsr-3891	238	11	sampler	sampler	NOUN
fsr-3891	238	12	,	,	PUNCT
fsr-3891	238	13	the	the	DET
fsr-3891	238	14	probability	probability	NOUN
fsr-3891	238	15	that	that	SCONJ
fsr-3891	238	16	affinity	affinity	NOUN
fsr-3891	238	17	firms	firm	NOUN
fsr-3891	238	18	are	be	AUX
fsr-3891	238	19	more	more	ADV
fsr-3891	238	20	efficient	efficient	ADJ
fsr-3891	238	21	than	than	ADP
fsr-3891	238	22	non	non	ADJ
fsr-3891	238	23	-	-	ADJ
fsr-3891	238	24	affinity	affinity	ADJ
fsr-3891	238	25	firms	firm	NOUN
fsr-3891	238	26	is	be	AUX
fsr-3891	238	27	less	less	ADJ
fsr-3891	238	28	than	than	ADP
fsr-3891	238	29	one	one	NUM
fsr-3891	238	30	in	in	ADP
fsr-3891	238	31	20,000	20,000	NUM
fsr-3891	238	32	.	.	PUNCT
fsr-3891	239	1	this	this	DET
fsr-3891	239	2	converts	convert	NOUN
fsr-3891	239	3	to	to	ADP
fsr-3891	239	4	an	an	DET
fsr-3891	239	5	odds	odd	NOUN
fsr-3891	239	6	ratio	ratio	NOUN
fsr-3891	239	7	of	of	ADP
fsr-3891	239	8	0.00005	0.00005	NUM
fsr-3891	239	9	to	to	ADP
fsr-3891	239	10	one	one	NUM
fsr-3891	239	11	.	.	PUNCT
fsr-3891	240	1	5.2	5.2	NUM
fsr-3891	240	2	.	.	PUNCT
fsr-3891	240	3	economies	economy	NOUN
fsr-3891	240	4	of	of	ADP
fsr-3891	240	5	scale	scale	NOUN
fsr-3891	240	6	results	result	NOUN
fsr-3891	240	7	to	to	PART
fsr-3891	240	8	investigate	investigate	VERB
fsr-3891	240	9	optimal	optimal	ADJ
fsr-3891	240	10	firm	firm	ADJ
fsr-3891	240	11	size	size	NOUN
fsr-3891	240	12	,	,	PUNCT
fsr-3891	240	13	we	we	PRON
fsr-3891	240	14	calculate	calculate	VERB
fsr-3891	240	15	economies	economy	NOUN
fsr-3891	240	16	of	of	ADP
fsr-3891	240	17	scale	scale	NOUN
fsr-3891	240	18	from	from	ADP
fsr-3891	240	19	the	the	DET
fsr-3891	240	20	efficient	efficient	ADJ
fsr-3891	240	21	cost	cost	NOUN
fsr-3891	240	22	frontiers	frontier	NOUN
fsr-3891	240	23	estimated	estimate	VERB
fsr-3891	240	24	above	above	ADV
fsr-3891	240	25	.	.	PUNCT
fsr-3891	241	1	a	a	DET
fsr-3891	241	2	firm	firm	NOUN
fsr-3891	241	3	’s	’s	PART
fsr-3891	241	4	scale	scale	NOUN
fsr-3891	241	5	economies	economy	NOUN
fsr-3891	241	6	are	be	AUX
fsr-3891	241	7	1	1	NUM
fsr-3891	241	8	­tc/­y	­tc/­y	PRON
fsr-3891	241	9	evaluated	evaluate	VERB
fsr-3891	241	10	at	at	ADP
fsr-3891	241	11	y	y	PROPN
fsr-3891	241	12	,	,	PUNCT
fsr-3891	241	13	where	where	SCONJ
fsr-3891	241	14	y	y	PROPN
fsr-3891	241	15	represents	represent	VERB
fsr-3891	241	16	output	output	NOUN
fsr-3891	241	17	as	as	SCONJ
fsr-3891	241	18	measured	measure	VERB
fsr-3891	241	19	by	by	ADP
fsr-3891	241	20	revenue	revenue	NOUN
fsr-3891	241	21	transactions	transaction	NOUN
fsr-3891	241	22	.	.	PUNCT
fsr-3891	242	1	a	a	DET
fsr-3891	242	2	result	result	NOUN
fsr-3891	242	3	greater	great	ADJ
fsr-3891	242	4	than	than	ADP
fsr-3891	242	5	one	one	NUM
fsr-3891	242	6	suggests	suggest	VERB
fsr-3891	242	7	the	the	DET
fsr-3891	242	8	firm	firm	NOUN
fsr-3891	242	9	is	be	AUX
fsr-3891	242	10	operating	operate	VERB
fsr-3891	242	11	at	at	ADP
fsr-3891	242	12	increasing	increase	VERB
fsr-3891	242	13	returns	return	NOUN
fsr-3891	242	14	to	to	PART
fsr-3891	242	15	scale	scale	VERB
fsr-3891	242	16	,	,	PUNCT
fsr-3891	242	17	a	a	DET
fsr-3891	242	18	result	result	NOUN
fsr-3891	242	19	less	less	ADJ
fsr-3891	242	20	than	than	ADP
fsr-3891	242	21	one	one	NUM
fsr-3891	242	22	states	state	NOUN
fsr-3891	242	23	that	that	SCONJ
fsr-3891	242	24	the	the	DET
fsr-3891	242	25	firm	firm	NOUN
fsr-3891	242	26	is	be	AUX
fsr-3891	242	27	operating	operate	VERB
fsr-3891	242	28	with	with	ADP
fsr-3891	242	29	decreasing	decrease	VERB
fsr-3891	242	30	returns	return	NOUN
fsr-3891	242	31	to	to	PART
fsr-3891	242	32	scale	scale	VERB
fsr-3891	242	33	,	,	PUNCT
fsr-3891	242	34	and	and	CCONJ
fsr-3891	242	35	a	a	DET
fsr-3891	242	36	result	result	NOUN
fsr-3891	242	37	of	of	ADP
fsr-3891	242	38	one	one	NUM
fsr-3891	242	39	indicates	indicate	VERB
fsr-3891	242	40	the	the	DET
fsr-3891	242	41	firm	firm	NOUN
fsr-3891	242	42	is	be	AUX
fsr-3891	242	43	operating	operate	VERB
fsr-3891	242	44	with	with	ADP
fsr-3891	242	45	constant	constant	ADJ
fsr-3891	242	46	returns	return	NOUN
fsr-3891	242	47	to	to	PART
fsr-3891	242	48	scale	scale	VERB
fsr-3891	242	49	.	.	PUNCT
fsr-3891	243	1	we	we	PRON
fsr-3891	243	2	calculate	calculate	VERB
fsr-3891	243	3	returns	return	NOUN
fsr-3891	243	4	to	to	PART
fsr-3891	243	5	scale	scale	VERB
fsr-3891	243	6	two	two	NUM
fsr-3891	243	7	ways	way	NOUN
fsr-3891	243	8	.	.	PUNCT
fsr-3891	244	1	first	first	ADV
fsr-3891	244	2	we	we	PRON
fsr-3891	244	3	use	use	VERB
fsr-3891	244	4	the	the	DET
fsr-3891	244	5	base	base	NOUN
fsr-3891	244	6	parameter	parameter	NOUN
fsr-3891	244	7	estimates	estimate	VERB
fsr-3891	244	8	where	where	SCONJ
fsr-3891	244	9	the	the	DET
fsr-3891	244	10	stochastic	stochastic	ADJ
fsr-3891	244	11	frontier	frontier	NOUN
fsr-3891	244	12	does	do	AUX
fsr-3891	244	13	not	not	PART
fsr-3891	244	14	193d	193d	PROPN
fsr-3891	244	15	.	.	PUNCT
fsr-3891	245	1	lewis	lewis	PROPN
fsr-3891	245	2	et	et	PROPN
fsr-3891	245	3	al	al	PROPN
fsr-3891	245	4	.	.	PUNCT
fsr-3891	245	5	/	/	SYM
fsr-3891	245	6	financial	financial	ADJ
fsr-3891	245	7	services	service	NOUN
fsr-3891	245	8	review	review	VERB
fsr-3891	245	9	8	8	NUM
fsr-3891	245	10	(	(	PUNCT
fsr-3891	245	11	1999	1999	NUM
fsr-3891	245	12	)	)	PUNCT
fsr-3891	245	13	183–197	183–197	NUM
fsr-3891	245	14	distinguish	distinguish	VERB
fsr-3891	245	15	between	between	ADP
fsr-3891	245	16	types	type	NOUN
fsr-3891	245	17	of	of	ADP
fsr-3891	245	18	brokerage	brokerage	NOUN
fsr-3891	245	19	firms	firm	NOUN
fsr-3891	245	20	–	–	PUNCT
fsr-3891	245	21	ones	one	NOUN
fsr-3891	245	22	that	that	PRON
fsr-3891	245	23	participate	participate	VERB
fsr-3891	245	24	in	in	ADP
fsr-3891	245	25	affinities	affinity	NOUN
fsr-3891	245	26	and	and	CCONJ
fsr-3891	245	27	ones	one	NOUN
fsr-3891	245	28	that	that	PRON
fsr-3891	245	29	do	do	AUX
fsr-3891	245	30	not	not	PART
fsr-3891	245	31	participate	participate	VERB
fsr-3891	245	32	and	and	CCONJ
fsr-3891	245	33	the	the	DET
fsr-3891	245	34	parameter	parameter	NOUN
fsr-3891	245	35	estimates	estimate	VERB
fsr-3891	245	36	.	.	PUNCT
fsr-3891	246	1	the	the	DET
fsr-3891	246	2	next	next	ADJ
fsr-3891	246	3	set	set	NOUN
fsr-3891	246	4	of	of	ADP
fsr-3891	246	5	estimations	estimation	NOUN
fsr-3891	246	6	the	the	DET
fsr-3891	246	7	parameter	parameter	NOUN
fsr-3891	246	8	estimates	estimate	NOUN
fsr-3891	246	9	are	be	AUX
fsr-3891	246	10	from	from	ADP
fsr-3891	246	11	the	the	DET
fsr-3891	246	12	stochastic	stochastic	ADJ
fsr-3891	246	13	frontier	frontier	NOUN
fsr-3891	246	14	that	that	PRON
fsr-3891	246	15	is	be	AUX
fsr-3891	246	16	constructed	construct	VERB
fsr-3891	246	17	conditional	conditional	ADJ
fsr-3891	246	18	on	on	ADP
fsr-3891	246	19	the	the	DET
fsr-3891	246	20	two	two	NUM
fsr-3891	246	21	separate	separate	ADJ
fsr-3891	246	22	firm	firm	ADJ
fsr-3891	246	23	types	type	NOUN
fsr-3891	246	24	;	;	PUNCT
fsr-3891	246	25	affinity	affinity	NOUN
fsr-3891	246	26	and	and	CCONJ
fsr-3891	246	27	non	non	ADJ
fsr-3891	246	28	-	-	ADJ
fsr-3891	246	29	affinity	affinity	ADJ
fsr-3891	246	30	participants	participant	NOUN
fsr-3891	246	31	.	.	PUNCT
fsr-3891	247	1	the	the	DET
fsr-3891	247	2	results	result	NOUN
fsr-3891	247	3	from	from	ADP
fsr-3891	247	4	the	the	DET
fsr-3891	247	5	former	former	ADJ
fsr-3891	247	6	are	be	AUX
fsr-3891	247	7	in	in	ADP
fsr-3891	247	8	table	table	NOUN
fsr-3891	247	9	4	4	NUM
fsr-3891	247	10	(	(	PUNCT
fsr-3891	247	11	panel	panel	NOUN
fsr-3891	247	12	a	a	NOUN
fsr-3891	247	13	)	)	PUNCT
fsr-3891	247	14	and	and	CCONJ
fsr-3891	247	15	the	the	DET
fsr-3891	247	16	results	result	NOUN
fsr-3891	247	17	from	from	ADP
fsr-3891	247	18	the	the	DET
fsr-3891	247	19	latter	latter	ADJ
fsr-3891	247	20	are	be	AUX
fsr-3891	247	21	in	in	ADP
fsr-3891	247	22	table	table	NOUN
fsr-3891	247	23	4	4	NUM
fsr-3891	247	24	(	(	PUNCT
fsr-3891	247	25	panel	panel	NOUN
fsr-3891	247	26	b	b	NOUN
fsr-3891	247	27	)	)	PUNCT
fsr-3891	247	28	.	.	PUNCT
fsr-3891	248	1	in	in	ADP
fsr-3891	248	2	table	table	NOUN
fsr-3891	248	3	4	4	NUM
fsr-3891	248	4	an	an	DET
fsr-3891	248	5	overwhelming	overwhelming	ADJ
fsr-3891	248	6	amount	amount	NOUN
fsr-3891	248	7	of	of	ADP
fsr-3891	248	8	evidence	evidence	NOUN
fsr-3891	248	9	suggests	suggest	VERB
fsr-3891	248	10	that	that	SCONJ
fsr-3891	248	11	a	a	DET
fsr-3891	248	12	majority	majority	NOUN
fsr-3891	248	13	of	of	ADP
fsr-3891	248	14	the	the	DET
fsr-3891	248	15	sample	sample	NOUN
fsr-3891	248	16	firms	firm	NOUN
fsr-3891	248	17	are	be	AUX
fsr-3891	248	18	operating	operate	VERB
fsr-3891	248	19	at	at	ADP
fsr-3891	248	20	increasing	increase	VERB
fsr-3891	248	21	returns	return	NOUN
fsr-3891	248	22	to	to	PART
fsr-3891	248	23	scale	scale	VERB
fsr-3891	248	24	.	.	PUNCT
fsr-3891	249	1	rather	rather	ADV
fsr-3891	249	2	than	than	ADP
fsr-3891	249	3	reporting	report	VERB
fsr-3891	249	4	the	the	DET
fsr-3891	249	5	returns	return	NOUN
fsr-3891	249	6	to	to	PART
fsr-3891	249	7	scale	scale	VERB
fsr-3891	249	8	for	for	ADP
fsr-3891	249	9	all	all	DET
fsr-3891	249	10	firms	firm	NOUN
fsr-3891	249	11	in	in	ADP
fsr-3891	249	12	the	the	DET
fsr-3891	249	13	sample	sample	NOUN
fsr-3891	249	14	we	we	PRON
fsr-3891	249	15	report	report	VERB
fsr-3891	249	16	returns	return	NOUN
fsr-3891	249	17	to	to	PART
fsr-3891	249	18	scale	scale	VERB
fsr-3891	249	19	for	for	ADP
fsr-3891	249	20	each	each	DET
fsr-3891	249	21	quartile	quartile	NOUN
fsr-3891	249	22	of	of	ADP
fsr-3891	249	23	brokerages	brokerage	NOUN
fsr-3891	249	24	based	base	VERB
fsr-3891	249	25	on	on	ADP
fsr-3891	249	26	the	the	DET
fsr-3891	249	27	number	number	NOUN
fsr-3891	249	28	of	of	ADP
fsr-3891	249	29	revenue	revenue	NOUN
fsr-3891	249	30	transactions	transaction	NOUN
fsr-3891	249	31	made	make	VERB
fsr-3891	249	32	.	.	PUNCT
fsr-3891	250	1	both	both	DET
fsr-3891	250	2	sets	set	NOUN
fsr-3891	250	3	of	of	ADP
fsr-3891	250	4	results	result	NOUN
fsr-3891	250	5	show	show	VERB
fsr-3891	250	6	that	that	SCONJ
fsr-3891	250	7	brokerages	brokerage	NOUN
fsr-3891	250	8	in	in	ADP
fsr-3891	250	9	all	all	DET
fsr-3891	250	10	table	table	NOUN
fsr-3891	250	11	3	3	NUM
fsr-3891	250	12	conditional	conditional	ADJ
fsr-3891	250	13	efficiency	efficiency	NOUN
fsr-3891	250	14	results	result	NOUN
fsr-3891	250	15	for	for	ADP
fsr-3891	250	16	affinity	affinity	NOUN
fsr-3891	250	17	and	and	CCONJ
fsr-3891	250	18	non	non	ADJ
fsr-3891	250	19	-	-	ADJ
fsr-3891	250	20	affinity	affinity	ADJ
fsr-3891	250	21	firma	firma	NOUN
fsr-3891	250	22	arbitrary	arbitrary	ADJ
fsr-3891	250	23	brokerage	brokerage	NOUN
fsr-3891	250	24	#	#	NOUN
fsr-3891	250	25	posterior	posterior	NOUN
fsr-3891	250	26	means	mean	VERB
fsr-3891	250	27	[	[	X
fsr-3891	250	28	90	90	NUM
fsr-3891	250	29	%	%	NOUN
fsr-3891	250	30	confidence	confidence	NOUN
fsr-3891	250	31	interval	interval	NOUN
fsr-3891	250	32	]	]	PUNCT
fsr-3891	250	33	affinity	affinity	NOUN
fsr-3891	250	34	brokerage	brokerage	NOUN
fsr-3891	250	35	1	1	NUM
fsr-3891	250	36	84.6	84.6	NUM
fsr-3891	250	37	%	%	NOUN
fsr-3891	250	38	[	[	X
fsr-3891	250	39	64.3	64.3	NUM
fsr-3891	250	40	%	%	NOUN
fsr-3891	250	41	,	,	PUNCT
fsr-3891	250	42	98.7	98.7	NUM
fsr-3891	250	43	%	%	NOUN
fsr-3891	250	44	]	]	PUNCT
fsr-3891	250	45	affinity	affinity	NOUN
fsr-3891	250	46	brokerage	brokerage	NOUN
fsr-3891	250	47	2	2	NUM
fsr-3891	250	48	45.5	45.5	NUM
fsr-3891	250	49	%	%	NOUN
fsr-3891	250	50	[	[	X
fsr-3891	250	51	29.6	29.6	NUM
fsr-3891	250	52	%	%	NOUN
fsr-3891	250	53	,	,	PUNCT
fsr-3891	250	54	98.7	98.7	NUM
fsr-3891	250	55	%	%	NOUN
fsr-3891	250	56	]	]	PUNCT
fsr-3891	250	57	affinity	affinity	NOUN
fsr-3891	250	58	brokerage	brokerage	NOUN
fsr-3891	250	59	3	3	NUM
fsr-3891	250	60	63.3	63.3	NUM
fsr-3891	250	61	%	%	NOUN
fsr-3891	251	1	[	[	X
fsr-3891	251	2	42.1	42.1	NUM
fsr-3891	251	3	%	%	NOUN
fsr-3891	251	4	,	,	PUNCT
fsr-3891	251	5	88.5	88.5	NUM
fsr-3891	251	6	%	%	NOUN
fsr-3891	251	7	]	]	PUNCT
fsr-3891	251	8	affinity	affinity	NOUN
fsr-3891	251	9	brokerage	brokerage	NOUN
fsr-3891	251	10	4	4	NUM
fsr-3891	251	11	71.9	71.9	NUM
fsr-3891	251	12	%	%	NOUN
fsr-3891	251	13	[	[	X
fsr-3891	251	14	49.3	49.3	NUM
fsr-3891	251	15	%	%	NOUN
fsr-3891	251	16	,	,	PUNCT
fsr-3891	251	17	95.1	95.1	NUM
fsr-3891	251	18	%	%	NOUN
fsr-3891	251	19	]	]	PUNCT
fsr-3891	251	20	affinity	affinity	NOUN
fsr-3891	251	21	brokerage	brokerage	NOUN
fsr-3891	251	22	5	5	NUM
fsr-3891	251	23	71.9	71.9	NUM
fsr-3891	251	24	%	%	NOUN
fsr-3891	251	25	[	[	X
fsr-3891	251	26	49.7	49.7	NUM
fsr-3891	251	27	,	,	PUNCT
fsr-3891	251	28	94.8	94.8	NUM
fsr-3891	251	29	%	%	NOUN
fsr-3891	251	30	]	]	PUNCT
fsr-3891	251	31	nonaffinity	nonaffinity	NOUN
fsr-3891	251	32	brokerage	brokerage	NOUN
fsr-3891	251	33	1	1	NUM
fsr-3891	251	34	94.7	94.7	NUM
fsr-3891	251	35	%	%	NOUN
fsr-3891	252	1	[	[	X
fsr-3891	252	2	82.4	82.4	NUM
fsr-3891	252	3	%	%	NOUN
fsr-3891	252	4	,	,	PUNCT
fsr-3891	252	5	99.8	99.8	NUM
fsr-3891	252	6	%	%	NOUN
fsr-3891	252	7	]	]	PUNCT
fsr-3891	252	8	nonaffinity	nonaffinity	NOUN
fsr-3891	252	9	brokerage	brokerage	NOUN
fsr-3891	252	10	2	2	NUM
fsr-3891	252	11	96.3	96.3	NUM
fsr-3891	252	12	%	%	NOUN
fsr-3891	252	13	[	[	X
fsr-3891	252	14	88.6	88.6	NUM
fsr-3891	252	15	%	%	NOUN
fsr-3891	252	16	,	,	PUNCT
fsr-3891	252	17	99.8	99.8	NUM
fsr-3891	252	18	]	]	PUNCT
fsr-3891	252	19	nonaffinity	nonaffinity	NOUN
fsr-3891	252	20	brokerage	brokerage	NOUN
fsr-3891	252	21	3	3	NUM
fsr-3891	252	22	94.3	94.3	NUM
fsr-3891	252	23	%	%	NOUN
fsr-3891	253	1	[	[	X
fsr-3891	253	2	81.6	81.6	NUM
fsr-3891	253	3	%	%	NOUN
fsr-3891	253	4	,	,	PUNCT
fsr-3891	253	5	99.8	99.8	NUM
fsr-3891	253	6	%	%	NOUN
fsr-3891	253	7	]	]	PUNCT
fsr-3891	253	8	nonaffinity	nonaffinity	NOUN
fsr-3891	253	9	brokerage	brokerage	NOUN
fsr-3891	253	10	4	4	NUM
fsr-3891	253	11	96.5	96.5	NUM
fsr-3891	253	12	%	%	NOUN
fsr-3891	254	1	[	[	X
fsr-3891	254	2	89.4	89.4	NUM
fsr-3891	254	3	%	%	NOUN
fsr-3891	254	4	,	,	PUNCT
fsr-3891	254	5	99.8	99.8	NUM
fsr-3891	254	6	%	%	NOUN
fsr-3891	254	7	]	]	PUNCT
fsr-3891	254	8	nonaffinity	nonaffinity	NOUN
fsr-3891	254	9	brokerage	brokerage	NOUN
fsr-3891	254	10	5	5	NUM
fsr-3891	254	11	96.9	96.9	NUM
fsr-3891	254	12	%	%	NOUN
fsr-3891	254	13	[	[	X
fsr-3891	254	14	90.6	90.6	NUM
fsr-3891	254	15	%	%	NOUN
fsr-3891	254	16	,	,	PUNCT
fsr-3891	254	17	99.9	99.9	NUM
fsr-3891	254	18	%	%	NOUN
fsr-3891	254	19	]	]	PUNCT
fsr-3891	254	20	affinity	affinity	NOUN
fsr-3891	254	21	group	group	NOUN
fsr-3891	254	22	inefficiency	inefficiency	NOUN
fsr-3891	254	23	(	(	PUNCT
fsr-3891	254	24	l1	l1	PROPN
fsr-3891	254	25	)	)	PUNCT
fsr-3891	254	26	35.2	35.2	NUM
fsr-3891	254	27	%	%	NOUN
fsr-3891	255	1	[	[	X
fsr-3891	255	2	27.0	27.0	NUM
fsr-3891	255	3	%	%	NOUN
fsr-3891	255	4	,	,	PUNCT
fsr-3891	255	5	44.8	44.8	NUM
fsr-3891	255	6	%	%	NOUN
fsr-3891	255	7	]	]	PUNCT
fsr-3891	255	8	affinity	affinity	NOUN
fsr-3891	255	9	group	group	NOUN
fsr-3891	255	10	inefficiency	inefficiency	NOUN
fsr-3891	255	11	(	(	PUNCT
fsr-3891	255	12	exp(2l1	exp(2l1	NOUN
fsr-3891	255	13	)	)	PUNCT
fsr-3891	255	14	70.3	70.3	NUM
fsr-3891	255	15	%	%	NOUN
fsr-3891	255	16	[	[	X
fsr-3891	255	17	63.9	63.9	NUM
fsr-3891	255	18	%	%	NOUN
fsr-3891	255	19	,	,	PUNCT
fsr-3891	255	20	76.3	76.3	NUM
fsr-3891	255	21	%	%	NOUN
fsr-3891	255	22	]	]	X
fsr-3891	255	23	non	non	ADJ
fsr-3891	255	24	-	-	ADJ
fsr-3891	255	25	affinity	affinity	ADJ
fsr-3891	255	26	group	group	NOUN
fsr-3891	255	27	inefficiency	inefficiency	NOUN
fsr-3891	255	28	(	(	PUNCT
fsr-3891	255	29	l2	l2	NOUN
fsr-3891	255	30	)	)	PUNCT
fsr-3891	255	31	4.2	4.2	NUM
fsr-3891	255	32	%	%	NOUN
fsr-3891	256	1	[	[	PUNCT
fsr-3891	256	2	2.0	2.0	NUM
fsr-3891	256	3	%	%	NOUN
fsr-3891	256	4	,	,	PUNCT
fsr-3891	256	5	7.7	7.7	NUM
fsr-3891	256	6	%	%	NOUN
fsr-3891	256	7	]	]	X
fsr-3891	256	8	non	non	ADJ
fsr-3891	256	9	-	-	ADJ
fsr-3891	256	10	affinity	affinity	ADJ
fsr-3891	256	11	group	group	NOUN
fsr-3891	256	12	efficiency	efficiency	NOUN
fsr-3891	256	13	(	(	PUNCT
fsr-3891	256	14	exp(2l2	exp(2l2	PROPN
fsr-3891	256	15	)	)	PUNCT
fsr-3891	256	16	)	)	PUNCT
fsr-3891	257	1	95.9	95.9	NUM
fsr-3891	257	2	%	%	NOUN
fsr-3891	257	3	[	[	X
fsr-3891	257	4	92.6	92.6	NUM
fsr-3891	257	5	%	%	NOUN
fsr-3891	257	6	,	,	PUNCT
fsr-3891	257	7	98.0	98.0	NUM
fsr-3891	257	8	%	%	NOUN
fsr-3891	257	9	]	]	PUNCT
fsr-3891	257	10	relative	relative	ADJ
fsr-3891	257	11	group	group	NOUN
fsr-3891	257	12	type	type	NOUN
fsr-3891	257	13	inefficiency	inefficiency	NOUN
fsr-3891	257	14	l1	l1	PROPN
fsr-3891	257	15	l2	l2	NOUN
fsr-3891	257	16	9.74	9.74	NUM
fsr-3891	257	17	[	[	X
fsr-3891	257	18	4.50	4.50	NUM
fsr-3891	257	19	,	,	PUNCT
fsr-3891	257	20	17.69	17.69	NUM
fsr-3891	257	21	]	]	PUNCT
fsr-3891	257	22	prob	prob	NOUN
fsr-3891	257	23	(	(	PUNCT
fsr-3891	257	24	l2,l2	l2,l2	PROPN
fsr-3891	257	25	)	)	PUNCT
fsr-3891	257	26	5	5	NUM
fsr-3891	257	27	prob	prob	PROPN
fsr-3891	257	28	sl1	sl1	PROPN
fsr-3891	257	29	l2	l2	NOUN
fsr-3891	257	30	,	,	PUNCT
fsr-3891	257	31	1d	1d	NUM
fsr-3891	257	32	probability	probability	NOUN
fsr-3891	257	33	that	that	SCONJ
fsr-3891	257	34	affinity	affinity	NOUN
fsr-3891	257	35	brokerages	brokerage	NOUN
fsr-3891	257	36	are	be	AUX
fsr-3891	257	37	more	more	ADV
fsr-3891	257	38	efficient	efficient	ADJ
fsr-3891	257	39	,	,	PUNCT
fsr-3891	257	40	1	1	NUM
fsr-3891	257	41	out	out	ADP
fsr-3891	257	42	of	of	ADP
fsr-3891	257	43	20,000	20,000	NUM
fsr-3891	257	44	odds	odd	NOUN
fsr-3891	257	45	that	that	SCONJ
fsr-3891	257	46	affinity	affinity	NOUN
fsr-3891	257	47	brokerages	brokerage	NOUN
fsr-3891	257	48	are	be	AUX
fsr-3891	257	49	more	more	ADV
fsr-3891	257	50	efficient	efficient	ADJ
fsr-3891	257	51	,	,	PUNCT
fsr-3891	257	52	0.00005	0.00005	NUM
fsr-3891	257	53	to	to	ADP
fsr-3891	257	54	1	1	NUM
fsr-3891	257	55	a	a	DET
fsr-3891	257	56	industry	industry	NOUN
fsr-3891	257	57	inefficiency	inefficiency	NOUN
fsr-3891	257	58	,	,	PUNCT
fsr-3891	257	59	arbitrary	arbitrary	ADJ
fsr-3891	257	60	examples	example	NOUN
fsr-3891	257	61	of	of	ADP
fsr-3891	257	62	individual	individual	ADJ
fsr-3891	257	63	brokerage	brokerage	NOUN
fsr-3891	257	64	efficiency	efficiency	NOUN
fsr-3891	257	65	and	and	CCONJ
fsr-3891	257	66	the	the	DET
fsr-3891	257	67	variance	variance	NOUN
fsr-3891	257	68	of	of	ADP
fsr-3891	257	69	the	the	DET
fsr-3891	257	70	frontier	frontier	NOUN
fsr-3891	257	71	’s	’s	PART
fsr-3891	257	72	measurement	measurement	NOUN
fsr-3891	257	73	error	error	NOUN
fsr-3891	257	74	are	be	AUX
fsr-3891	257	75	listed	list	VERB
fsr-3891	257	76	with	with	ADP
fsr-3891	257	77	90	90	NUM
fsr-3891	257	78	%	%	NOUN
fsr-3891	257	79	confidence	confidence	NOUN
fsr-3891	257	80	intervals	interval	NOUN
fsr-3891	257	81	.	.	PUNCT
fsr-3891	258	1	194	194	NUM
fsr-3891	258	2	d.	d.	PROPN
fsr-3891	258	3	lewis	lewis	PROPN
fsr-3891	258	4	et	et	PROPN
fsr-3891	258	5	al	al	PROPN
fsr-3891	258	6	.	.	PUNCT
fsr-3891	258	7	/	/	SYM
fsr-3891	258	8	financial	financial	ADJ
fsr-3891	258	9	services	service	NOUN
fsr-3891	258	10	review	review	VERB
fsr-3891	258	11	8	8	NUM
fsr-3891	258	12	(	(	PUNCT
fsr-3891	258	13	1999	1999	NUM
fsr-3891	258	14	)	)	PUNCT
fsr-3891	258	15	183–197	183–197	NUM
fsr-3891	258	16	quartiles	quartile	NOUN
fsr-3891	258	17	are	be	AUX
fsr-3891	258	18	facing	face	VERB
fsr-3891	258	19	increasing	increase	VERB
fsr-3891	258	20	returns	return	NOUN
fsr-3891	258	21	to	to	PART
fsr-3891	258	22	scale	scale	VERB
fsr-3891	258	23	(	(	PUNCT
fsr-3891	258	24	irs	irs	PROPN
fsr-3891	258	25	)	)	PUNCT
fsr-3891	258	26	.	.	PUNCT
fsr-3891	259	1	in	in	ADP
fsr-3891	259	2	fact	fact	NOUN
fsr-3891	259	3	,	,	PUNCT
fsr-3891	259	4	none	none	NOUN
fsr-3891	259	5	of	of	ADP
fsr-3891	259	6	the	the	DET
fsr-3891	259	7	sampled	sample	VERB
fsr-3891	259	8	firms	firm	NOUN
fsr-3891	259	9	seem	seem	VERB
fsr-3891	259	10	to	to	PART
fsr-3891	259	11	be	be	AUX
fsr-3891	259	12	facing	face	VERB
fsr-3891	259	13	returns	return	NOUN
fsr-3891	259	14	to	to	PART
fsr-3891	259	15	scale	scale	VERB
fsr-3891	259	16	that	that	PRON
fsr-3891	259	17	are	be	AUX
fsr-3891	259	18	less	less	ADJ
fsr-3891	259	19	than	than	ADP
fsr-3891	259	20	one	one	NUM
fsr-3891	259	21	(	(	PUNCT
fsr-3891	259	22	decreasing	decrease	VERB
fsr-3891	259	23	returns	return	NOUN
fsr-3891	259	24	to	to	PART
fsr-3891	259	25	scale	scale	VERB
fsr-3891	259	26	(	(	PUNCT
fsr-3891	259	27	drs	drs	PROPN
fsr-3891	259	28	)	)	PUNCT
fsr-3891	259	29	)	)	PUNCT
fsr-3891	259	30	.	.	PUNCT
fsr-3891	260	1	zumpano	zumpano	NOUN
fsr-3891	260	2	,	,	PUNCT
fsr-3891	260	3	elder	elder	NOUN
fsr-3891	260	4	,	,	PUNCT
fsr-3891	260	5	and	and	CCONJ
fsr-3891	260	6	crellin	crellin	PROPN
fsr-3891	260	7	(	(	PUNCT
fsr-3891	260	8	1993	1993	NUM
fsr-3891	260	9	)	)	PUNCT
fsr-3891	260	10	,	,	PUNCT
fsr-3891	260	11	zumpano	zumpano	PROPN
fsr-3891	260	12	and	and	CCONJ
fsr-3891	260	13	elder	elder	NOUN
fsr-3891	260	14	(	(	PUNCT
fsr-3891	260	15	1994	1994	NUM
fsr-3891	260	16	)	)	PUNCT
fsr-3891	260	17	,	,	PUNCT
fsr-3891	260	18	anderson	anderson	PROPN
fsr-3891	260	19	,	,	PUNCT
fsr-3891	260	20	fok	fok	PROPN
fsr-3891	260	21	,	,	PUNCT
fsr-3891	260	22	zumpano	zumpano	NOUN
fsr-3891	260	23	,	,	PUNCT
fsr-3891	260	24	and	and	CCONJ
fsr-3891	260	25	elder	elder	NOUN
fsr-3891	260	26	(	(	PUNCT
fsr-3891	260	27	1998	1998	NUM
fsr-3891	260	28	)	)	PUNCT
fsr-3891	260	29	,	,	PUNCT
fsr-3891	260	30	and	and	CCONJ
fsr-3891	260	31	lewis	lewis	PROPN
fsr-3891	260	32	and	and	CCONJ
fsr-3891	260	33	anderson	anderson	PROPN
fsr-3891	260	34	(	(	PUNCT
fsr-3891	260	35	1999	1999	NUM
fsr-3891	260	36	)	)	PUNCT
fsr-3891	260	37	also	also	ADV
fsr-3891	260	38	find	find	VERB
fsr-3891	260	39	that	that	SCONJ
fsr-3891	260	40	firms	firm	NOUN
fsr-3891	260	41	in	in	ADP
fsr-3891	260	42	the	the	DET
fsr-3891	260	43	real	real	ADJ
fsr-3891	260	44	estate	estate	NOUN
fsr-3891	260	45	brokerage	brokerage	NOUN
fsr-3891	260	46	industry	industry	NOUN
fsr-3891	260	47	are	be	AUX
fsr-3891	260	48	failing	fail	VERB
fsr-3891	260	49	to	to	PART
fsr-3891	260	50	take	take	VERB
fsr-3891	260	51	advantage	advantage	NOUN
fsr-3891	260	52	of	of	ADP
fsr-3891	260	53	scale	scale	NOUN
fsr-3891	260	54	economies	economy	NOUN
fsr-3891	260	55	.	.	PUNCT
fsr-3891	261	1	the	the	DET
fsr-3891	261	2	consolidation	consolidation	NOUN
fsr-3891	261	3	that	that	PRON
fsr-3891	261	4	is	be	AUX
fsr-3891	261	5	currently	currently	ADV
fsr-3891	261	6	transpiring	transpire	VERB
fsr-3891	261	7	in	in	ADP
fsr-3891	261	8	this	this	DET
fsr-3891	261	9	industry	industry	NOUN
fsr-3891	261	10	is	be	AUX
fsr-3891	261	11	evidence	evidence	NOUN
fsr-3891	261	12	of	of	ADP
fsr-3891	261	13	a	a	DET
fsr-3891	261	14	movement	movement	NOUN
fsr-3891	261	15	toward	toward	ADP
fsr-3891	261	16	scale	scale	NOUN
fsr-3891	261	17	efficiency	efficiency	NOUN
fsr-3891	261	18	.	.	PUNCT
fsr-3891	262	1	the	the	DET
fsr-3891	262	2	results	result	NOUN
fsr-3891	262	3	obtained	obtain	VERB
fsr-3891	262	4	from	from	ADP
fsr-3891	262	5	the	the	DET
fsr-3891	262	6	sample	sample	NOUN
fsr-3891	262	7	,	,	PUNCT
fsr-3891	262	8	contain	contain	VERB
fsr-3891	262	9	information	information	NOUN
fsr-3891	262	10	that	that	PRON
fsr-3891	262	11	is	be	AUX
fsr-3891	262	12	somewhat	somewhat	ADV
fsr-3891	262	13	problematic	problematic	ADJ
fsr-3891	262	14	from	from	ADP
fsr-3891	262	15	a	a	DET
fsr-3891	262	16	normative	normative	ADJ
fsr-3891	262	17	and	and	CCONJ
fsr-3891	262	18	regulatory	regulatory	ADJ
fsr-3891	262	19	point	point	NOUN
fsr-3891	262	20	of	of	ADP
fsr-3891	262	21	view	view	NOUN
fsr-3891	262	22	.	.	PUNCT
fsr-3891	263	1	to	to	ADP
fsr-3891	263	2	the	the	DET
fsr-3891	263	3	extent	extent	NOUN
fsr-3891	263	4	that	that	SCONJ
fsr-3891	263	5	affinity	affinity	NOUN
fsr-3891	263	6	programs	program	NOUN
fsr-3891	263	7	allow	allow	VERB
fsr-3891	263	8	smaller	small	ADJ
fsr-3891	263	9	firms	firm	NOUN
fsr-3891	263	10	to	to	PART
fsr-3891	263	11	take	take	VERB
fsr-3891	263	12	advantage	advantage	NOUN
fsr-3891	263	13	of	of	ADP
fsr-3891	263	14	economies	economy	NOUN
fsr-3891	263	15	of	of	ADP
fsr-3891	263	16	scale	scale	NOUN
fsr-3891	263	17	,	,	PUNCT
fsr-3891	263	18	affinity	affinity	NOUN
fsr-3891	263	19	participation	participation	NOUN
fsr-3891	263	20	may	may	AUX
fsr-3891	263	21	be	be	AUX
fsr-3891	263	22	efficiency	efficiency	NOUN
fsr-3891	263	23	enhancing	enhance	VERB
fsr-3891	263	24	.	.	PUNCT
fsr-3891	264	1	on	on	ADP
fsr-3891	264	2	the	the	DET
fsr-3891	264	3	other	other	ADJ
fsr-3891	264	4	hand	hand	NOUN
fsr-3891	264	5	,	,	PUNCT
fsr-3891	264	6	if	if	SCONJ
fsr-3891	264	7	firms	firm	NOUN
fsr-3891	264	8	grow	grow	VERB
fsr-3891	264	9	too	too	ADV
fsr-3891	264	10	large	large	ADJ
fsr-3891	264	11	they	they	PRON
fsr-3891	264	12	may	may	AUX
fsr-3891	264	13	begin	begin	VERB
fsr-3891	264	14	to	to	PART
fsr-3891	264	15	operate	operate	VERB
fsr-3891	264	16	less	less	ADV
fsr-3891	264	17	efficiently	efficiently	ADV
fsr-3891	264	18	because	because	SCONJ
fsr-3891	264	19	of	of	ADP
fsr-3891	264	20	diseconomies	diseconomie	NOUN
fsr-3891	264	21	of	of	ADP
fsr-3891	264	22	scale	scale	NOUN
fsr-3891	264	23	.	.	PUNCT
fsr-3891	265	1	we	we	PRON
fsr-3891	265	2	also	also	ADV
fsr-3891	265	3	know	know	VERB
fsr-3891	265	4	that	that	SCONJ
fsr-3891	265	5	affinity	affinity	NOUN
fsr-3891	265	6	participation	participation	NOUN
fsr-3891	265	7	tends	tend	VERB
fsr-3891	265	8	to	to	PART
fsr-3891	265	9	be	be	AUX
fsr-3891	265	10	concentrated	concentrate	VERB
fsr-3891	265	11	among	among	ADP
fsr-3891	265	12	the	the	DET
fsr-3891	265	13	larger	large	ADJ
fsr-3891	265	14	firms	firm	NOUN
fsr-3891	265	15	and	and	CCONJ
fsr-3891	265	16	affinity	affinity	NOUN
fsr-3891	265	17	affiliations	affiliation	NOUN
fsr-3891	265	18	are	be	AUX
fsr-3891	265	19	increasing	increase	VERB
fsr-3891	265	20	.	.	PUNCT
fsr-3891	266	1	although	although	SCONJ
fsr-3891	266	2	such	such	ADJ
fsr-3891	266	3	diseconomies	diseconomie	NOUN
fsr-3891	266	4	normally	normally	ADV
fsr-3891	266	5	work	work	VERB
fsr-3891	266	6	to	to	PART
fsr-3891	266	7	limit	limit	VERB
fsr-3891	266	8	firm	firm	ADJ
fsr-3891	266	9	size	size	NOUN
fsr-3891	266	10	,	,	PUNCT
fsr-3891	266	11	affinity	affinity	NOUN
fsr-3891	266	12	programs	program	NOUN
fsr-3891	266	13	may	may	AUX
fsr-3891	266	14	allow	allow	VERB
fsr-3891	266	15	member	member	NOUN
fsr-3891	266	16	firms	firm	NOUN
fsr-3891	266	17	to	to	PART
fsr-3891	266	18	continue	continue	VERB
fsr-3891	266	19	to	to	PART
fsr-3891	266	20	grow	grow	VERB
fsr-3891	266	21	despite	despite	SCONJ
fsr-3891	266	22	inefficient	inefficient	ADJ
fsr-3891	266	23	operations	operation	NOUN
fsr-3891	266	24	because	because	SCONJ
fsr-3891	266	25	of	of	ADP
fsr-3891	266	26	a	a	DET
fsr-3891	266	27	comparative	comparative	ADJ
fsr-3891	266	28	advantage	advantage	NOUN
fsr-3891	266	29	in	in	ADP
fsr-3891	266	30	generating	generate	VERB
fsr-3891	266	31	listings	listing	NOUN
fsr-3891	266	32	and	and	CCONJ
fsr-3891	266	33	sales	sale	NOUN
fsr-3891	266	34	relative	relative	ADJ
fsr-3891	266	35	to	to	ADP
fsr-3891	266	36	non	non	ADJ
fsr-3891	266	37	-	-	ADJ
fsr-3891	266	38	affinity	affinity	ADJ
fsr-3891	266	39	firms	firm	NOUN
fsr-3891	266	40	.	.	PUNCT
fsr-3891	267	1	if	if	SCONJ
fsr-3891	267	2	affinity	affinity	NOUN
fsr-3891	267	3	groups	group	NOUN
fsr-3891	267	4	provide	provide	VERB
fsr-3891	267	5	a	a	DET
fsr-3891	267	6	mechanism	mechanism	NOUN
fsr-3891	267	7	for	for	ADP
fsr-3891	267	8	less	less	ADV
fsr-3891	267	9	efficient	efficient	ADJ
fsr-3891	267	10	firms	firm	NOUN
fsr-3891	267	11	to	to	PART
fsr-3891	267	12	survive	survive	VERB
fsr-3891	267	13	,	,	PUNCT
fsr-3891	267	14	or	or	CCONJ
fsr-3891	267	15	worse	bad	ADJ
fsr-3891	267	16	still	still	ADV
fsr-3891	267	17	,	,	PUNCT
fsr-3891	267	18	drive	drive	VERB
fsr-3891	267	19	out	out	ADP
fsr-3891	267	20	more	more	ADV
fsr-3891	267	21	efficiently	efficiently	ADV
fsr-3891	267	22	run	run	ADJ
fsr-3891	267	23	firms	firm	NOUN
fsr-3891	267	24	,	,	PUNCT
fsr-3891	267	25	one	one	NUM
fsr-3891	267	26	result	result	NOUN
fsr-3891	267	27	could	could	AUX
fsr-3891	267	28	be	be	AUX
fsr-3891	267	29	a	a	DET
fsr-3891	267	30	less	less	ADV
fsr-3891	267	31	competitive	competitive	ADJ
fsr-3891	267	32	market	market	NOUN
fsr-3891	267	33	structure	structure	NOUN
fsr-3891	267	34	.	.	PUNCT
fsr-3891	268	1	this	this	PRON
fsr-3891	268	2	,	,	PUNCT
fsr-3891	268	3	in	in	ADP
fsr-3891	268	4	turn	turn	NOUN
fsr-3891	268	5	,	,	PUNCT
fsr-3891	268	6	could	could	AUX
fsr-3891	268	7	mean	mean	VERB
fsr-3891	268	8	consumers	consumer	NOUN
fsr-3891	268	9	could	could	AUX
fsr-3891	268	10	be	be	AUX
fsr-3891	268	11	left	leave	VERB
fsr-3891	268	12	paying	pay	VERB
fsr-3891	268	13	higher	high	ADJ
fsr-3891	268	14	commissions	commission	NOUN
fsr-3891	268	15	for	for	ADP
fsr-3891	268	16	lower	low	ADJ
fsr-3891	268	17	quality	quality	NOUN
fsr-3891	268	18	services	service	NOUN
fsr-3891	268	19	.	.	PUNCT
fsr-3891	269	1	it	it	PRON
fsr-3891	269	2	must	must	AUX
fsr-3891	269	3	be	be	AUX
fsr-3891	269	4	pointed	point	VERB
fsr-3891	269	5	out	out	ADP
fsr-3891	269	6	that	that	SCONJ
fsr-3891	269	7	what	what	PRON
fsr-3891	269	8	has	have	AUX
fsr-3891	269	9	been	be	AUX
fsr-3891	269	10	said	say	VERB
fsr-3891	269	11	above	above	ADV
fsr-3891	269	12	is	be	AUX
fsr-3891	269	13	still	still	ADV
fsr-3891	269	14	highly	highly	ADV
fsr-3891	269	15	conjectural	conjectural	ADJ
fsr-3891	269	16	,	,	PUNCT
fsr-3891	269	17	especially	especially	ADV
fsr-3891	269	18	because	because	SCONJ
fsr-3891	269	19	we	we	PRON
fsr-3891	269	20	can	can	AUX
fsr-3891	269	21	not	not	PART
fsr-3891	269	22	quantify	quantify	VERB
fsr-3891	269	23	the	the	DET
fsr-3891	269	24	consumer	consumer	NOUN
fsr-3891	269	25	benefits	benefit	NOUN
fsr-3891	269	26	of	of	ADP
fsr-3891	269	27	affinity	affinity	NOUN
fsr-3891	269	28	programs	program	NOUN
fsr-3891	269	29	.	.	PUNCT
fsr-3891	270	1	it	it	PRON
fsr-3891	270	2	is	be	AUX
fsr-3891	270	3	possible	possible	ADJ
fsr-3891	270	4	that	that	SCONJ
fsr-3891	270	5	the	the	DET
fsr-3891	270	6	benefits	benefit	NOUN
fsr-3891	270	7	of	of	ADP
fsr-3891	270	8	affinity	affinity	NOUN
fsr-3891	270	9	participation	participation	NOUN
fsr-3891	270	10	outweigh	outweigh	VERB
fsr-3891	270	11	the	the	DET
fsr-3891	270	12	costs	cost	NOUN
fsr-3891	270	13	of	of	ADP
fsr-3891	270	14	these	these	DET
fsr-3891	270	15	programs	program	NOUN
fsr-3891	270	16	.	.	PUNCT
fsr-3891	271	1	moreover	moreover	ADV
fsr-3891	271	2	,	,	PUNCT
fsr-3891	271	3	it	it	PRON
fsr-3891	271	4	may	may	AUX
fsr-3891	271	5	not	not	PART
fsr-3891	271	6	be	be	AUX
fsr-3891	271	7	the	the	DET
fsr-3891	271	8	affinity	affinity	NOUN
fsr-3891	271	9	programs	program	NOUN
fsr-3891	271	10	,	,	PUNCT
fsr-3891	271	11	themselves	themselves	PRON
fsr-3891	271	12	,	,	PUNCT
fsr-3891	271	13	which	which	PRON
fsr-3891	271	14	are	be	AUX
fsr-3891	271	15	the	the	DET
fsr-3891	271	16	culprits	culprit	NOUN
fsr-3891	271	17	,	,	PUNCT
fsr-3891	271	18	but	but	CCONJ
fsr-3891	271	19	rather	rather	ADV
fsr-3891	271	20	that	that	PRON
fsr-3891	271	21	affinity	affinity	NOUN
fsr-3891	271	22	programs	program	NOUN
fsr-3891	271	23	table	table	VERB
fsr-3891	271	24	4	4	NUM
fsr-3891	271	25	returns	return	NOUN
fsr-3891	271	26	to	to	PART
fsr-3891	271	27	scale	scale	VERB
fsr-3891	271	28	results	result	NOUN
fsr-3891	271	29	panel	panel	NOUN
fsr-3891	271	30	a.	a.	NOUN
fsr-3891	271	31	scale	scale	NOUN
fsr-3891	271	32	findings	finding	NOUN
fsr-3891	271	33	using	use	VERB
fsr-3891	271	34	the	the	DET
fsr-3891	271	35	restricted	restricted	ADJ
fsr-3891	271	36	base	base	NOUN
fsr-3891	271	37	parameter	parameter	NOUN
fsr-3891	271	38	results	result	NOUN
fsr-3891	271	39	quartile	quartile	ADV
fsr-3891	271	40	1y­tcy­y	1y­tcy­y	NUM
fsr-3891	272	1	[	[	SYM
fsr-3891	272	2	90	90	NUM
fsr-3891	272	3	%	%	NOUN
fsr-3891	272	4	confidence	confidence	NOUN
fsr-3891	272	5	interval	interval	NOUN
fsr-3891	272	6	]	]	PUNCT
fsr-3891	272	7	returns	return	NOUN
fsr-3891	272	8	to	to	PART
fsr-3891	272	9	scale	scale	VERB
fsr-3891	272	10	25th	25th	NOUN
fsr-3891	272	11	(	(	PUNCT
fsr-3891	272	12	lny	lny	PROPN
fsr-3891	272	13	5	5	NUM
fsr-3891	272	14	4.63	4.63	NUM
fsr-3891	272	15	)	)	PUNCT
fsr-3891	272	16	1.160	1.160	NUM
fsr-3891	272	17	[	[	X
fsr-3891	272	18	1.077	1.077	NUM
fsr-3891	272	19	,	,	PUNCT
fsr-3891	272	20	1.251	1.251	NUM
fsr-3891	272	21	]	]	PUNCT
fsr-3891	272	22	irs	irs	PROPN
fsr-3891	272	23	50th	50th	PROPN
fsr-3891	272	24	(	(	PUNCT
fsr-3891	272	25	lny	lny	PROPN
fsr-3891	272	26	5	5	NUM
fsr-3891	272	27	5.38	5.38	NUM
fsr-3891	272	28	)	)	PUNCT
fsr-3891	272	29	1.154	1.154	NUM
fsr-3891	273	1	[	[	X
fsr-3891	273	2	1.072	1.072	NUM
fsr-3891	273	3	,	,	PUNCT
fsr-3891	273	4	1.245	1.245	NUM
fsr-3891	273	5	]	]	PUNCT
fsr-3891	273	6	irs	irs	PROPN
fsr-3891	273	7	75th	75th	NOUN
fsr-3891	273	8	(	(	PUNCT
fsr-3891	273	9	lny	lny	PROPN
fsr-3891	273	10	5	5	NUM
fsr-3891	273	11	6.63	6.63	NUM
fsr-3891	273	12	)	)	PUNCT
fsr-3891	273	13	1.147	1.147	NUM
fsr-3891	273	14	[	[	X
fsr-3891	273	15	1.067	1.067	NUM
fsr-3891	273	16	,	,	PUNCT
fsr-3891	273	17	1.239	1.239	NUM
fsr-3891	273	18	]	]	PUNCT
fsr-3891	273	19	irs	irs	PROPN
fsr-3891	273	20	panel	panel	NOUN
fsr-3891	273	21	b	b	NOUN
fsr-3891	273	22	:	:	PUNCT
fsr-3891	273	23	scale	scale	NOUN
fsr-3891	273	24	findings	finding	NOUN
fsr-3891	273	25	conditional	conditional	ADJ
fsr-3891	273	26	on	on	ADP
fsr-3891	273	27	firm	firm	ADJ
fsr-3891	273	28	type	type	NOUN
fsr-3891	273	29	quartile	quartile	ADV
fsr-3891	273	30	1y­tcy­y	1y­tcy­y	NUM
fsr-3891	273	31	[	[	SYM
fsr-3891	273	32	90	90	NUM
fsr-3891	273	33	%	%	NOUN
fsr-3891	273	34	confidence	confidence	NOUN
fsr-3891	273	35	interval	interval	NOUN
fsr-3891	273	36	]	]	PUNCT
fsr-3891	273	37	returns	return	NOUN
fsr-3891	273	38	to	to	PART
fsr-3891	273	39	scale	scale	VERB
fsr-3891	273	40	25th	25th	NOUN
fsr-3891	273	41	(	(	PUNCT
fsr-3891	273	42	lny	lny	PROPN
fsr-3891	273	43	5	5	NUM
fsr-3891	273	44	4.63	4.63	NUM
fsr-3891	273	45	)	)	PUNCT
fsr-3891	273	46	1.22	1.22	NUM
fsr-3891	273	47	[	[	X
fsr-3891	273	48	1.14	1.14	NUM
fsr-3891	273	49	,	,	PUNCT
fsr-3891	273	50	1.30	1.30	NUM
fsr-3891	273	51	]	]	PUNCT
fsr-3891	273	52	irs	irs	PROPN
fsr-3891	273	53	50th	50th	NOUN
fsr-3891	273	54	(	(	PUNCT
fsr-3891	273	55	lny	lny	PROPN
fsr-3891	273	56	5	5	NUM
fsr-3891	273	57	5.38	5.38	NUM
fsr-3891	273	58	)	)	PUNCT
fsr-3891	273	59	1.21	1.21	NUM
fsr-3891	274	1	[	[	X
fsr-3891	274	2	1.14	1.14	NUM
fsr-3891	274	3	,	,	PUNCT
fsr-3891	274	4	1.29	1.29	NUM
fsr-3891	274	5	]	]	PUNCT
fsr-3891	274	6	irs	irs	PROPN
fsr-3891	274	7	75th	75th	NOUN
fsr-3891	274	8	(	(	PUNCT
fsr-3891	274	9	lny	lny	PROPN
fsr-3891	274	10	5	5	NUM
fsr-3891	274	11	6.63	6.63	NUM
fsr-3891	274	12	)	)	PUNCT
fsr-3891	274	13	1.20	1.20	NUM
fsr-3891	274	14	[	[	X
fsr-3891	274	15	1.13	1.13	NUM
fsr-3891	274	16	.	.	PUNCT
fsr-3891	275	1	1.29	1.29	NUM
fsr-3891	275	2	]	]	PUNCT
fsr-3891	275	3	irs	irs	PROPN
fsr-3891	275	4	195d	195d	PROPN
fsr-3891	275	5	.	.	PUNCT
fsr-3891	276	1	lewis	lewis	PROPN
fsr-3891	276	2	et	et	PROPN
fsr-3891	276	3	al	al	PROPN
fsr-3891	276	4	.	.	PUNCT
fsr-3891	276	5	/	/	SYM
fsr-3891	276	6	financial	financial	ADJ
fsr-3891	276	7	services	service	NOUN
fsr-3891	276	8	review	review	VERB
fsr-3891	276	9	8	8	NUM
fsr-3891	276	10	(	(	PUNCT
fsr-3891	276	11	1999	1999	NUM
fsr-3891	276	12	)	)	PUNCT
fsr-3891	276	13	183–197	183–197	NUM
fsr-3891	276	14	may	may	AUX
fsr-3891	276	15	encourage	encourage	VERB
fsr-3891	276	16	inefficient	inefficient	ADJ
fsr-3891	276	17	growth	growth	NOUN
fsr-3891	276	18	in	in	ADP
fsr-3891	276	19	firm	firm	ADJ
fsr-3891	276	20	size	size	NOUN
fsr-3891	276	21	.	.	PUNCT
fsr-3891	277	1	equally	equally	ADV
fsr-3891	277	2	important	important	ADJ
fsr-3891	277	3	,	,	PUNCT
fsr-3891	277	4	the	the	DET
fsr-3891	277	5	efficiency	efficiency	NOUN
fsr-3891	277	6	estimations	estimation	NOUN
fsr-3891	277	7	undertaken	undertake	VERB
fsr-3891	277	8	in	in	ADP
fsr-3891	277	9	this	this	DET
fsr-3891	277	10	study	study	NOUN
fsr-3891	277	11	are	be	AUX
fsr-3891	277	12	based	base	VERB
fsr-3891	277	13	upon	upon	SCONJ
fsr-3891	277	14	only	only	ADV
fsr-3891	277	15	one	one	NUM
fsr-3891	277	16	year	year	NOUN
fsr-3891	277	17	of	of	ADP
fsr-3891	277	18	observations	observation	NOUN
fsr-3891	277	19	and	and	CCONJ
fsr-3891	277	20	affinity	affinity	NOUN
fsr-3891	277	21	programs	program	NOUN
fsr-3891	277	22	are	be	AUX
fsr-3891	277	23	still	still	ADV
fsr-3891	277	24	evolving	evolve	VERB
fsr-3891	277	25	.	.	PUNCT
fsr-3891	278	1	what	what	PRON
fsr-3891	278	2	the	the	DET
fsr-3891	278	3	collective	collective	ADJ
fsr-3891	278	4	effect	effect	NOUN
fsr-3891	278	5	of	of	ADP
fsr-3891	278	6	affinity	affinity	NOUN
fsr-3891	278	7	programs	program	NOUN
fsr-3891	278	8	may	may	AUX
fsr-3891	278	9	be	be	AUX
fsr-3891	278	10	over	over	ADP
fsr-3891	278	11	time	time	NOUN
fsr-3891	278	12	can	can	AUX
fsr-3891	278	13	not	not	PART
fsr-3891	278	14	yet	yet	ADV
fsr-3891	278	15	be	be	AUX
fsr-3891	278	16	determined	determine	VERB
fsr-3891	278	17	.	.	PUNCT
fsr-3891	279	1	6	6	X
fsr-3891	279	2	.	.	X
fsr-3891	279	3	concluding	conclude	VERB
fsr-3891	279	4	remarks	remark	NOUN
fsr-3891	279	5	in	in	ADP
fsr-3891	279	6	this	this	DET
fsr-3891	279	7	study	study	NOUN
fsr-3891	279	8	,	,	PUNCT
fsr-3891	279	9	we	we	PRON
fsr-3891	279	10	provide	provide	VERB
fsr-3891	279	11	the	the	DET
fsr-3891	279	12	first	first	ADJ
fsr-3891	279	13	rigorous	rigorous	ADJ
fsr-3891	279	14	empirical	empirical	ADJ
fsr-3891	279	15	examination	examination	NOUN
fsr-3891	279	16	of	of	ADP
fsr-3891	279	17	the	the	DET
fsr-3891	279	18	impact	impact	NOUN
fsr-3891	279	19	of	of	ADP
fsr-3891	279	20	affinity	affinity	NOUN
fsr-3891	279	21	programs	program	NOUN
fsr-3891	279	22	on	on	ADP
fsr-3891	279	23	real	real	ADJ
fsr-3891	279	24	estate	estate	NOUN
fsr-3891	279	25	brokerage	brokerage	NOUN
fsr-3891	279	26	firms	firm	NOUN
fsr-3891	279	27	and	and	CCONJ
fsr-3891	279	28	the	the	DET
fsr-3891	279	29	brokerage	brokerage	NOUN
fsr-3891	279	30	industry	industry	NOUN
fsr-3891	279	31	as	as	ADP
fsr-3891	279	32	a	a	DET
fsr-3891	279	33	whole	whole	NOUN
fsr-3891	279	34	.	.	PUNCT
fsr-3891	280	1	most	most	ADJ
fsr-3891	280	2	of	of	ADP
fsr-3891	280	3	the	the	DET
fsr-3891	280	4	evidence	evidence	NOUN
fsr-3891	280	5	obtained	obtain	VERB
fsr-3891	280	6	from	from	ADP
fsr-3891	280	7	the	the	DET
fsr-3891	280	8	sample	sample	NOUN
fsr-3891	280	9	supports	support	VERB
fsr-3891	280	10	the	the	DET
fsr-3891	280	11	notion	notion	NOUN
fsr-3891	280	12	that	that	SCONJ
fsr-3891	280	13	affinity	affinity	NOUN
fsr-3891	280	14	participation	participation	NOUN
fsr-3891	280	15	is	be	AUX
fsr-3891	280	16	on	on	ADP
fsr-3891	280	17	the	the	DET
fsr-3891	280	18	rise	rise	NOUN
fsr-3891	280	19	,	,	PUNCT
fsr-3891	280	20	but	but	CCONJ
fsr-3891	280	21	still	still	ADV
fsr-3891	280	22	remains	remain	VERB
fsr-3891	280	23	somewhat	somewhat	ADV
fsr-3891	280	24	modest	modest	ADJ
fsr-3891	280	25	.	.	PUNCT
fsr-3891	281	1	most	most	ADJ
fsr-3891	281	2	of	of	ADP
fsr-3891	281	3	the	the	DET
fsr-3891	281	4	sample	sample	NOUN
fsr-3891	281	5	firms	firm	NOUN
fsr-3891	281	6	that	that	PRON
fsr-3891	281	7	participate	participate	VERB
fsr-3891	281	8	in	in	ADP
fsr-3891	281	9	affinity	affinity	NOUN
fsr-3891	281	10	programs	program	NOUN
fsr-3891	281	11	have	have	VERB
fsr-3891	281	12	multiple	multiple	ADJ
fsr-3891	281	13	affinity	affinity	NOUN
fsr-3891	281	14	partners	partner	NOUN
fsr-3891	281	15	,	,	PUNCT
fsr-3891	281	16	which	which	PRON
fsr-3891	281	17	usually	usually	ADV
fsr-3891	281	18	take	take	VERB
fsr-3891	281	19	the	the	DET
fsr-3891	281	20	form	form	NOUN
fsr-3891	281	21	of	of	ADP
fsr-3891	281	22	corporations	corporation	NOUN
fsr-3891	281	23	,	,	PUNCT
fsr-3891	281	24	unions	union	NOUN
fsr-3891	281	25	,	,	PUNCT
fsr-3891	281	26	professional	professional	ADJ
fsr-3891	281	27	associations	association	NOUN
fsr-3891	281	28	,	,	PUNCT
fsr-3891	281	29	and	and	CCONJ
fsr-3891	281	30	employers	employer	NOUN
fsr-3891	281	31	.	.	PUNCT
fsr-3891	282	1	further	further	ADJ
fsr-3891	282	2	evidence	evidence	NOUN
fsr-3891	282	3	suggests	suggest	VERB
fsr-3891	282	4	that	that	SCONJ
fsr-3891	282	5	these	these	DET
fsr-3891	282	6	affinity	affinity	NOUN
fsr-3891	282	7	participating	participate	VERB
fsr-3891	282	8	firms	firm	NOUN
fsr-3891	282	9	employ	employ	VERB
fsr-3891	282	10	more	more	ADJ
fsr-3891	282	11	workers	worker	NOUN
fsr-3891	282	12	,	,	PUNCT
fsr-3891	282	13	operate	operate	VERB
fsr-3891	282	14	more	more	ADJ
fsr-3891	282	15	offices	office	NOUN
fsr-3891	282	16	,	,	PUNCT
fsr-3891	282	17	are	be	AUX
fsr-3891	282	18	more	more	ADV
fsr-3891	282	19	likely	likely	ADJ
fsr-3891	282	20	to	to	AUX
fsr-3891	282	21	franchise	franchise	NOUN
fsr-3891	282	22	,	,	PUNCT
fsr-3891	282	23	and	and	CCONJ
fsr-3891	282	24	have	have	VERB
fsr-3891	282	25	more	more	ADJ
fsr-3891	282	26	mls	mls	NOUN
fsr-3891	282	27	affiliations	affiliation	NOUN
fsr-3891	282	28	.	.	PUNCT
fsr-3891	283	1	with	with	ADP
fsr-3891	283	2	respect	respect	NOUN
fsr-3891	283	3	to	to	ADP
fsr-3891	283	4	firm	firm	ADJ
fsr-3891	283	5	performance	performance	NOUN
fsr-3891	283	6	,	,	PUNCT
fsr-3891	283	7	an	an	DET
fsr-3891	283	8	examination	examination	NOUN
fsr-3891	283	9	of	of	ADP
fsr-3891	283	10	the	the	DET
fsr-3891	283	11	actual	actual	ADJ
fsr-3891	283	12	financial	financial	ADJ
fsr-3891	283	13	numbers	number	NOUN
fsr-3891	283	14	shows	show	VERB
fsr-3891	283	15	that	that	SCONJ
fsr-3891	283	16	affinity	affinity	NOUN
fsr-3891	283	17	programs	program	NOUN
fsr-3891	283	18	can	can	AUX
fsr-3891	283	19	potentially	potentially	ADV
fsr-3891	283	20	help	help	VERB
fsr-3891	283	21	firms	firm	NOUN
fsr-3891	283	22	grow	grow	VERB
fsr-3891	283	23	in	in	ADP
fsr-3891	283	24	output	output	NOUN
fsr-3891	283	25	and	and	CCONJ
fsr-3891	283	26	revenue	revenue	NOUN
fsr-3891	283	27	volume	volume	NOUN
fsr-3891	283	28	.	.	PUNCT
fsr-3891	284	1	however	however	ADV
fsr-3891	284	2	,	,	PUNCT
fsr-3891	284	3	the	the	DET
fsr-3891	284	4	results	result	NOUN
fsr-3891	284	5	also	also	ADV
fsr-3891	284	6	suggest	suggest	VERB
fsr-3891	284	7	that	that	SCONJ
fsr-3891	284	8	these	these	DET
fsr-3891	284	9	additional	additional	ADJ
fsr-3891	284	10	revenues	revenue	NOUN
fsr-3891	284	11	are	be	AUX
fsr-3891	284	12	not	not	PART
fsr-3891	284	13	being	be	AUX
fsr-3891	284	14	translated	translate	VERB
fsr-3891	284	15	into	into	ADP
fsr-3891	284	16	increased	increase	VERB
fsr-3891	284	17	profitability	profitability	NOUN
fsr-3891	284	18	.	.	PUNCT
fsr-3891	285	1	in	in	ADP
fsr-3891	285	2	fact	fact	NOUN
fsr-3891	285	3	,	,	PUNCT
fsr-3891	285	4	on	on	ADP
fsr-3891	285	5	a	a	DET
fsr-3891	285	6	per	per	ADP
fsr-3891	285	7	revenue	revenue	NOUN
fsr-3891	285	8	transaction	transaction	NOUN
fsr-3891	285	9	basis	basis	NOUN
fsr-3891	285	10	,	,	PUNCT
fsr-3891	285	11	non	non	ADJ
fsr-3891	285	12	-	-	ADJ
fsr-3891	285	13	affinity	affinity	ADJ
fsr-3891	285	14	firms	firm	NOUN
fsr-3891	285	15	in	in	ADP
fsr-3891	285	16	the	the	DET
fsr-3891	285	17	sample	sample	NOUN
fsr-3891	285	18	produce	produce	VERB
fsr-3891	285	19	higher	high	ADJ
fsr-3891	285	20	levels	level	NOUN
fsr-3891	285	21	of	of	ADP
fsr-3891	285	22	adjusted	adjust	VERB
fsr-3891	285	23	net	net	ADJ
fsr-3891	285	24	income	income	NOUN
fsr-3891	285	25	,	,	PUNCT
fsr-3891	285	26	although	although	SCONJ
fsr-3891	285	27	the	the	DET
fsr-3891	285	28	difference	difference	NOUN
fsr-3891	285	29	is	be	AUX
fsr-3891	285	30	not	not	PART
fsr-3891	285	31	statically	statically	ADV
fsr-3891	285	32	significant	significant	ADJ
fsr-3891	285	33	.	.	PUNCT
fsr-3891	286	1	it	it	PRON
fsr-3891	286	2	seems	seem	VERB
fsr-3891	286	3	that	that	SCONJ
fsr-3891	286	4	the	the	DET
fsr-3891	286	5	additional	additional	ADJ
fsr-3891	286	6	revenues	revenue	NOUN
fsr-3891	286	7	generated	generate	VERB
fsr-3891	286	8	from	from	ADP
fsr-3891	286	9	affinity	affinity	NOUN
fsr-3891	286	10	program	program	NOUN
fsr-3891	286	11	participation	participation	NOUN
fsr-3891	286	12	are	be	AUX
fsr-3891	286	13	offset	offset	VERB
fsr-3891	286	14	by	by	ADP
fsr-3891	286	15	commission	commission	NOUN
fsr-3891	286	16	discounts	discount	NOUN
fsr-3891	286	17	and	and	CCONJ
fsr-3891	286	18	the	the	DET
fsr-3891	286	19	increased	increase	VERB
fsr-3891	286	20	costs	cost	NOUN
fsr-3891	286	21	associated	associate	VERB
fsr-3891	286	22	with	with	ADP
fsr-3891	286	23	increased	increase	VERB
fsr-3891	286	24	production	production	NOUN
fsr-3891	286	25	.	.	PUNCT
fsr-3891	287	1	to	to	PART
fsr-3891	287	2	analyze	analyze	VERB
fsr-3891	287	3	the	the	DET
fsr-3891	287	4	efficiency	efficiency	NOUN
fsr-3891	287	5	implications	implication	NOUN
fsr-3891	287	6	of	of	ADP
fsr-3891	287	7	affinity	affinity	NOUN
fsr-3891	287	8	programs	program	NOUN
fsr-3891	287	9	,	,	PUNCT
fsr-3891	287	10	we	we	PRON
fsr-3891	287	11	estimate	estimate	VERB
fsr-3891	287	12	x	x	ADJ
fsr-3891	287	13	-	-	NOUN
fsr-3891	287	14	efficiency	efficiency	NOUN
fsr-3891	287	15	levels	level	NOUN
fsr-3891	287	16	for	for	ADP
fsr-3891	287	17	affinity	affinity	NOUN
fsr-3891	287	18	-	-	PUNCT
fsr-3891	287	19	participating	participate	VERB
fsr-3891	287	20	firms	firm	NOUN
fsr-3891	287	21	relative	relative	ADJ
fsr-3891	287	22	to	to	ADP
fsr-3891	287	23	non	non	ADJ
fsr-3891	287	24	-	-	ADJ
fsr-3891	287	25	affinity	affinity	ADJ
fsr-3891	287	26	participating	participate	VERB
fsr-3891	287	27	firms	firm	NOUN
fsr-3891	287	28	.	.	PUNCT
fsr-3891	288	1	for	for	ADP
fsr-3891	288	2	this	this	DET
fsr-3891	288	3	sample	sample	NOUN
fsr-3891	288	4	,	,	PUNCT
fsr-3891	288	5	we	we	PRON
fsr-3891	288	6	find	find	VERB
fsr-3891	288	7	that	that	SCONJ
fsr-3891	288	8	affinity	affinity	NOUN
fsr-3891	288	9	firms	firm	NOUN
fsr-3891	288	10	are	be	AUX
fsr-3891	288	11	much	much	ADV
fsr-3891	288	12	more	more	ADV
fsr-3891	288	13	inefficient	inefficient	ADJ
fsr-3891	288	14	than	than	ADP
fsr-3891	288	15	non	non	ADJ
fsr-3891	288	16	-	-	ADJ
fsr-3891	288	17	affinity	affinity	ADJ
fsr-3891	288	18	firms	firm	NOUN
fsr-3891	288	19	.	.	PUNCT
fsr-3891	289	1	in	in	ADP
fsr-3891	289	2	fact	fact	NOUN
fsr-3891	289	3	,	,	PUNCT
fsr-3891	289	4	the	the	DET
fsr-3891	289	5	probability	probability	NOUN
fsr-3891	289	6	that	that	SCONJ
fsr-3891	289	7	affinity	affinity	NOUN
fsr-3891	289	8	firms	firm	NOUN
fsr-3891	289	9	are	be	AUX
fsr-3891	289	10	more	more	ADV
fsr-3891	289	11	efficient	efficient	ADJ
fsr-3891	289	12	than	than	ADP
fsr-3891	289	13	non	non	ADJ
fsr-3891	289	14	-	-	ADJ
fsr-3891	289	15	affinity	affinity	ADJ
fsr-3891	289	16	firms	firm	NOUN
fsr-3891	289	17	is	be	AUX
fsr-3891	289	18	less	less	ADJ
fsr-3891	289	19	than	than	ADP
fsr-3891	289	20	one	one	NUM
fsr-3891	289	21	in	in	ADP
fsr-3891	289	22	20,000	20,000	NUM
fsr-3891	289	23	,	,	PUNCT
fsr-3891	289	24	which	which	PRON
fsr-3891	289	25	translates	translate	VERB
fsr-3891	289	26	into	into	ADP
fsr-3891	289	27	an	an	DET
fsr-3891	289	28	odds	odd	NOUN
fsr-3891	289	29	ratio	ratio	NOUN
fsr-3891	289	30	of	of	ADP
fsr-3891	289	31	0.00005	0.00005	NUM
fsr-3891	289	32	to	to	ADP
fsr-3891	289	33	one	one	NUM
fsr-3891	289	34	.	.	PUNCT
fsr-3891	290	1	finally	finally	ADV
fsr-3891	290	2	,	,	PUNCT
fsr-3891	290	3	we	we	PRON
fsr-3891	290	4	find	find	VERB
fsr-3891	290	5	further	further	ADJ
fsr-3891	290	6	evidence	evidence	NOUN
fsr-3891	290	7	that	that	SCONJ
fsr-3891	290	8	firms	firm	NOUN
fsr-3891	290	9	are	be	AUX
fsr-3891	290	10	operating	operate	VERB
fsr-3891	290	11	at	at	ADP
fsr-3891	290	12	increasing	increase	VERB
fsr-3891	290	13	returns	return	NOUN
fsr-3891	290	14	to	to	PART
fsr-3891	290	15	scale	scale	VERB
fsr-3891	290	16	.	.	PUNCT
fsr-3891	291	1	as	as	SCONJ
fsr-3891	291	2	we	we	PRON
fsr-3891	291	3	note	note	VERB
fsr-3891	291	4	above	above	ADV
fsr-3891	291	5	,	,	PUNCT
fsr-3891	291	6	the	the	DET
fsr-3891	291	7	results	result	NOUN
fsr-3891	291	8	here	here	ADV
fsr-3891	291	9	are	be	AUX
fsr-3891	291	10	preliminarily	preliminarily	ADJ
fsr-3891	291	11	and	and	CCONJ
fsr-3891	291	12	somewhat	somewhat	ADV
fsr-3891	291	13	conjectural	conjectural	ADJ
fsr-3891	291	14	due	due	ADP
fsr-3891	291	15	to	to	ADP
fsr-3891	291	16	data	datum	NOUN
fsr-3891	291	17	limitations	limitation	NOUN
fsr-3891	291	18	.	.	PUNCT
fsr-3891	292	1	however	however	ADV
fsr-3891	292	2	,	,	PUNCT
fsr-3891	292	3	the	the	DET
fsr-3891	292	4	findings	finding	NOUN
fsr-3891	292	5	of	of	ADP
fsr-3891	292	6	this	this	DET
fsr-3891	292	7	study	study	NOUN
fsr-3891	292	8	serve	serve	VERB
fsr-3891	292	9	as	as	ADP
fsr-3891	292	10	important	important	ADJ
fsr-3891	292	11	benchmarks	benchmark	NOUN
fsr-3891	292	12	that	that	PRON
fsr-3891	292	13	can	can	AUX
fsr-3891	292	14	be	be	AUX
fsr-3891	292	15	used	use	VERB
fsr-3891	292	16	to	to	PART
fsr-3891	292	17	monitor	monitor	VERB
fsr-3891	292	18	the	the	DET
fsr-3891	292	19	growth	growth	NOUN
fsr-3891	292	20	and	and	CCONJ
fsr-3891	292	21	efficiency	efficiency	NOUN
fsr-3891	292	22	of	of	ADP
fsr-3891	292	23	affinity	affinity	NOUN
fsr-3891	292	24	programs	program	NOUN
fsr-3891	292	25	over	over	ADP
fsr-3891	292	26	time	time	NOUN
fsr-3891	292	27	.	.	PUNCT
fsr-3891	293	1	the	the	DET
fsr-3891	293	2	sample	sample	NOUN
fsr-3891	293	3	results	result	NOUN
fsr-3891	293	4	obtained	obtain	VERB
fsr-3891	293	5	do	do	AUX
fsr-3891	293	6	provide	provide	VERB
fsr-3891	293	7	strong	strong	ADJ
fsr-3891	293	8	and	and	CCONJ
fsr-3891	293	9	statistically	statistically	ADV
fsr-3891	293	10	significant	significant	ADJ
fsr-3891	293	11	evidence	evidence	NOUN
fsr-3891	293	12	that	that	SCONJ
fsr-3891	293	13	affinity	affinity	NOUN
fsr-3891	293	14	programs	program	NOUN
fsr-3891	293	15	may	may	AUX
fsr-3891	293	16	hinder	hinder	VERB
fsr-3891	293	17	efficiency	efficiency	NOUN
fsr-3891	293	18	in	in	ADP
fsr-3891	293	19	the	the	DET
fsr-3891	293	20	residential	residential	ADJ
fsr-3891	293	21	real	real	ADJ
fsr-3891	293	22	estate	estate	NOUN
fsr-3891	293	23	brokerage	brokerage	NOUN
fsr-3891	293	24	market	market	NOUN
fsr-3891	293	25	.	.	PUNCT
fsr-3891	294	1	given	give	VERB
fsr-3891	294	2	the	the	DET
fsr-3891	294	3	growth	growth	NOUN
fsr-3891	294	4	of	of	ADP
fsr-3891	294	5	affinity	affinity	NOUN
fsr-3891	294	6	programs	program	NOUN
fsr-3891	294	7	,	,	PUNCT
fsr-3891	294	8	these	these	DET
fsr-3891	294	9	empirical	empirical	ADJ
fsr-3891	294	10	findings	finding	NOUN
fsr-3891	294	11	pose	pose	VERB
fsr-3891	294	12	concerns	concern	NOUN
fsr-3891	294	13	for	for	ADP
fsr-3891	294	14	the	the	DET
fsr-3891	294	15	individual	individual	ADJ
fsr-3891	294	16	real	real	ADJ
fsr-3891	294	17	estate	estate	NOUN
fsr-3891	294	18	investor	investor	NOUN
fsr-3891	294	19	.	.	PUNCT
fsr-3891	295	1	in	in	ADP
fsr-3891	295	2	less	less	ADV
fsr-3891	295	3	efficient	efficient	ADJ
fsr-3891	295	4	and	and	CCONJ
fsr-3891	295	5	competitive	competitive	ADJ
fsr-3891	295	6	markets	market	NOUN
fsr-3891	295	7	firms	firm	NOUN
fsr-3891	295	8	may	may	AUX
fsr-3891	295	9	not	not	PART
fsr-3891	295	10	have	have	VERB
fsr-3891	295	11	to	to	PART
fsr-3891	295	12	work	work	VERB
fsr-3891	295	13	as	as	ADV
fsr-3891	295	14	hard	hard	ADJ
fsr-3891	295	15	or	or	CCONJ
fsr-3891	295	16	as	as	ADV
fsr-3891	295	17	efficiently	efficiently	ADV
fsr-3891	295	18	to	to	PART
fsr-3891	295	19	compete	compete	VERB
fsr-3891	295	20	and	and	CCONJ
fsr-3891	295	21	survive	survive	VERB
fsr-3891	295	22	.	.	PUNCT
fsr-3891	296	1	in	in	ADP
fsr-3891	296	2	a	a	DET
fsr-3891	296	3	brokerage	brokerage	NOUN
fsr-3891	296	4	context	context	NOUN
fsr-3891	296	5	,	,	PUNCT
fsr-3891	296	6	consumers	consumer	NOUN
fsr-3891	296	7	could	could	AUX
fsr-3891	296	8	potentially	potentially	ADV
fsr-3891	296	9	see	see	VERB
fsr-3891	296	10	higher	high	ADJ
fsr-3891	296	11	fees	fee	NOUN
fsr-3891	296	12	or	or	CCONJ
fsr-3891	296	13	at	at	ADP
fsr-3891	296	14	least	least	ADJ
fsr-3891	296	15	fees	fee	NOUN
fsr-3891	296	16	that	that	PRON
fsr-3891	296	17	are	be	AUX
fsr-3891	296	18	above	above	ADP
fsr-3891	296	19	a	a	DET
fsr-3891	296	20	market	market	NOUN
fsr-3891	296	21	competitive	competitive	ADJ
fsr-3891	296	22	rate	rate	NOUN
fsr-3891	296	23	.	.	PUNCT
fsr-3891	297	1	moreover	moreover	ADV
fsr-3891	297	2	,	,	PUNCT
fsr-3891	297	3	the	the	DET
fsr-3891	297	4	quality	quality	NOUN
fsr-3891	297	5	of	of	ADP
fsr-3891	297	6	service	service	NOUN
fsr-3891	297	7	provided	provide	VERB
fsr-3891	297	8	by	by	ADP
fsr-3891	297	9	firms	firm	NOUN
fsr-3891	297	10	may	may	AUX
fsr-3891	297	11	decrease	decrease	VERB
fsr-3891	297	12	,	,	PUNCT
fsr-3891	297	13	possibly	possibly	ADV
fsr-3891	297	14	resulting	result	VERB
fsr-3891	297	15	in	in	ADP
fsr-3891	297	16	higher	high	ADJ
fsr-3891	297	17	search	search	NOUN
fsr-3891	297	18	costs	cost	NOUN
fsr-3891	297	19	for	for	ADP
fsr-3891	297	20	the	the	DET
fsr-3891	297	21	potential	potential	ADJ
fsr-3891	297	22	buyer	buyer	NOUN
fsr-3891	297	23	or	or	CCONJ
fsr-3891	297	24	longer	long	ADJ
fsr-3891	297	25	time	time	NOUN
fsr-3891	297	26	on	on	ADP
fsr-3891	297	27	the	the	DET
fsr-3891	297	28	market	market	NOUN
fsr-3891	297	29	for	for	ADP
fsr-3891	297	30	the	the	DET
fsr-3891	297	31	seller	seller	NOUN
fsr-3891	297	32	.	.	PUNCT
fsr-3891	298	1	the	the	DET
fsr-3891	298	2	results	result	NOUN
fsr-3891	298	3	suggest	suggest	VERB
fsr-3891	298	4	that	that	SCONJ
fsr-3891	298	5	regulators	regulator	NOUN
fsr-3891	298	6	and	and	CCONJ
fsr-3891	298	7	policy	policy	NOUN
fsr-3891	298	8	makers	maker	NOUN
fsr-3891	298	9	may	may	AUX
fsr-3891	298	10	be	be	AUX
fsr-3891	298	11	justified	justify	VERB
fsr-3891	298	12	in	in	ADP
fsr-3891	298	13	worrying	worry	VERB
fsr-3891	298	14	about	about	ADP
fsr-3891	298	15	the	the	DET
fsr-3891	298	16	growth	growth	NOUN
fsr-3891	298	17	of	of	ADP
fsr-3891	298	18	affinity	affinity	NOUN
fsr-3891	298	19	programs	program	NOUN
fsr-3891	298	20	within	within	ADP
fsr-3891	298	21	residential	residential	ADJ
fsr-3891	298	22	real	real	ADJ
fsr-3891	298	23	estate	estate	NOUN
fsr-3891	298	24	brokerages	brokerage	NOUN
fsr-3891	298	25	,	,	PUNCT
fsr-3891	298	26	as	as	SCONJ
fsr-3891	298	27	it	it	PRON
fsr-3891	298	28	may	may	AUX
fsr-3891	298	29	ultimately	ultimately	ADV
fsr-3891	298	30	be	be	AUX
fsr-3891	298	31	the	the	DET
fsr-3891	298	32	individual	individual	ADJ
fsr-3891	298	33	investor	investor	NOUN
fsr-3891	298	34	in	in	ADP
fsr-3891	298	35	real	real	ADJ
fsr-3891	298	36	estate	estate	NOUN
fsr-3891	298	37	that	that	PRON
fsr-3891	298	38	suffers	suffer	VERB
fsr-3891	298	39	.	.	PUNCT
fsr-3891	299	1	196	196	NUM
fsr-3891	299	2	d.	d.	PROPN
fsr-3891	299	3	lewis	lewis	PROPN
fsr-3891	299	4	et	et	PROPN
fsr-3891	299	5	al	al	PROPN
fsr-3891	299	6	.	.	PUNCT
fsr-3891	299	7	/	/	SYM
fsr-3891	299	8	financial	financial	ADJ
fsr-3891	299	9	services	service	NOUN
fsr-3891	299	10	review	review	VERB
fsr-3891	299	11	8	8	NUM
fsr-3891	299	12	(	(	PUNCT
fsr-3891	299	13	1999	1999	NUM
fsr-3891	299	14	)	)	PUNCT
fsr-3891	299	15	183–197	183–197	NUM
fsr-3891	299	16	references	reference	NOUN
fsr-3891	299	17	aigner	aigner	NOUN
fsr-3891	299	18	,	,	PUNCT
fsr-3891	299	19	d.	d.	PROPN
fsr-3891	299	20	j.	j.	PROPN
fsr-3891	299	21	,	,	PUNCT
fsr-3891	299	22	lovell	lovell	PROPN
fsr-3891	299	23	,	,	PUNCT
fsr-3891	299	24	c.	c.	PROPN
fsr-3891	299	25	a.	a.	PROPN
fsr-3891	299	26	&	&	CCONJ
fsr-3891	299	27	schmidt	schmidt	PROPN
fsr-3891	299	28	,	,	PUNCT
fsr-3891	299	29	p.	p.	NOUN
fsr-3891	299	30	(	(	PUNCT
fsr-3891	299	31	1977	1977	NUM
fsr-3891	299	32	)	)	PUNCT
fsr-3891	299	33	.	.	PUNCT
fsr-3891	300	1	formulation	formulation	NOUN
fsr-3891	300	2	and	and	CCONJ
fsr-3891	300	3	estimation	estimation	NOUN
fsr-3891	300	4	of	of	ADP
fsr-3891	300	5	stochastic	stochastic	ADJ
fsr-3891	300	6	frontier	frontier	NOUN
fsr-3891	300	7	function	function	NOUN
fsr-3891	300	8	models.journal	models.journal	PROPN
fsr-3891	300	9	of	of	ADP
fsr-3891	300	10	econometrics	econometric	NOUN
fsr-3891	300	11	,	,	PUNCT
fsr-3891	300	12	6,21–37	6,21–37	NUM
fsr-3891	300	13	.	.	PUNCT
fsr-3891	301	1	agency	agency	NOUN
fsr-3891	301	2	law	law	NOUN
fsr-3891	301	3	quarterly	quarterly	ADV
fsr-3891	301	4	.	.	PUNCT
fsr-3891	302	1	(	(	PUNCT
fsr-3891	302	2	1998).real	1998).real	NUM
fsr-3891	302	3	estate	estate	NOUN
fsr-3891	302	4	intelligence	intelligence	NOUN
fsr-3891	302	5	report	report	NOUN
fsr-3891	302	6	,	,	PUNCT
fsr-3891	302	7	vol	vol	NOUN
fsr-3891	302	8	.	.	PROPN
fsr-3891	302	9	9	9	NUM
fsr-3891	302	10	,	,	PUNCT
fsr-3891	302	11	no	no	INTJ
fsr-3891	302	12	.	.	NOUN
fsr-3891	302	13	5	5	NUM
fsr-3891	302	14	,	,	PUNCT
fsr-3891	302	15	april	april	PROPN
fsr-3891	302	16	anderson	anderson	PROPN
fsr-3891	302	17	,	,	PUNCT
fsr-3891	302	18	r.	r.	PROPN
fsr-3891	302	19	,	,	PUNCT
fsr-3891	302	20	fok	fok	PROPN
fsr-3891	302	21	,	,	PUNCT
fsr-3891	302	22	r.	r.	PROPN
fsr-3891	302	23	,	,	PUNCT
fsr-3891	302	24	zumpano	zumpano	PROPN
fsr-3891	302	25	,	,	PUNCT
fsr-3891	302	26	l.	l.	PROPN
fsr-3891	302	27	v.	v.	PROPN
fsr-3891	302	28	&	&	CCONJ
fsr-3891	302	29	elder	elder	PROPN
fsr-3891	302	30	,	,	PUNCT
fsr-3891	302	31	h.	h.	PROPN
fsr-3891	302	32	w.	w.	PROPN
fsr-3891	302	33	(	(	PUNCT
fsr-3891	302	34	1998	1998	NUM
fsr-3891	302	35	)	)	PUNCT
fsr-3891	302	36	.	.	PUNCT
fsr-3891	303	1	measuring	measure	VERB
fsr-3891	303	2	the	the	DET
fsr-3891	303	3	efficiency	efficiency	NOUN
fsr-3891	303	4	of	of	ADP
fsr-3891	303	5	residential	residential	ADJ
fsr-3891	303	6	real	real	ADJ
fsr-3891	303	7	estate	estate	NOUN
fsr-3891	303	8	brokerage	brokerage	NOUN
fsr-3891	303	9	firms.journal	firms.journal	ADJ
fsr-3891	303	10	of	of	ADP
fsr-3891	303	11	real	real	ADJ
fsr-3891	303	12	estate	estate	NOUN
fsr-3891	303	13	research	research	NOUN
fsr-3891	303	14	,	,	PUNCT
fsr-3891	303	15	16,139–158	16,139–158	PROPN
fsr-3891	303	16	.	.	PUNCT
fsr-3891	304	1	anderson	anderson	PROPN
fsr-3891	304	2	,	,	PUNCT
fsr-3891	304	3	r.	r.	PROPN
fsr-3891	304	4	,	,	PUNCT
fsr-3891	304	5	lewis	lewis	PROPN
fsr-3891	304	6	,	,	PUNCT
fsr-3891	304	7	d.	d.	PROPN
fsr-3891	304	8	,	,	PUNCT
fsr-3891	304	9	&	&	CCONJ
fsr-3891	304	10	zumpano	zumpano	PROPN
fsr-3891	304	11	,	,	PUNCT
fsr-3891	304	12	l.	l.	PROPN
fsr-3891	304	13	v.	v.	PROPN
fsr-3891	304	14	(	(	PUNCT
fsr-3891	304	15	2000a	2000a	NOUN
fsr-3891	304	16	)	)	PUNCT
fsr-3891	304	17	.	.	PUNCT
fsr-3891	305	1	residential	residential	ADJ
fsr-3891	305	2	real	real	ADJ
fsr-3891	305	3	estate	estate	NOUN
fsr-3891	305	4	brokerage	brokerage	NOUN
fsr-3891	305	5	efficiency	efficiency	NOUN
fsr-3891	305	6	from	from	ADP
fsr-3891	305	7	a	a	DET
fsr-3891	305	8	cost	cost	NOUN
fsr-3891	305	9	and	and	CCONJ
fsr-3891	305	10	profit	profit	NOUN
fsr-3891	305	11	perspective.journal	perspective.journal	PROPN
fsr-3891	305	12	of	of	ADP
fsr-3891	305	13	real	real	ADJ
fsr-3891	305	14	estate	estate	NOUN
fsr-3891	305	15	finance	finance	NOUN
fsr-3891	305	16	and	and	CCONJ
fsr-3891	305	17	economics	economic	NOUN
fsr-3891	305	18	,	,	PUNCT
fsr-3891	305	19	20,3	20,3	NOUN
fsr-3891	305	20	.	.	PUNCT
fsr-3891	306	1	anderson	anderson	PROPN
fsr-3891	306	2	,	,	PUNCT
fsr-3891	306	3	r.	r.	PROPN
fsr-3891	306	4	,	,	PUNCT
fsr-3891	306	5	lewis	lewis	PROPN
fsr-3891	306	6	,	,	PUNCT
fsr-3891	306	7	d.	d.	PROPN
fsr-3891	306	8	,	,	PUNCT
fsr-3891	306	9	&	&	CCONJ
fsr-3891	306	10	zumpano	zumpano	PROPN
fsr-3891	306	11	,	,	PUNCT
fsr-3891	306	12	l.	l.	PROPN
fsr-3891	306	13	v.	v.	PROPN
fsr-3891	306	14	(	(	PUNCT
fsr-3891	306	15	2000b	2000b	NUM
fsr-3891	306	16	)	)	PUNCT
fsr-3891	306	17	.	.	PUNCT
fsr-3891	307	1	x	x	X
fsr-3891	307	2	-	-	NOUN
fsr-3891	307	3	inefficiencies	inefficiency	NOUN
fsr-3891	307	4	in	in	ADP
fsr-3891	307	5	the	the	DET
fsr-3891	307	6	residential	residential	ADJ
fsr-3891	307	7	real	real	ADJ
fsr-3891	307	8	estate	estate	NOUN
fsr-3891	307	9	market	market	NOUN
fsr-3891	307	10	:	:	PUNCT
fsr-3891	307	11	a	a	DET
fsr-3891	307	12	stochastic	stochastic	ADJ
fsr-3891	307	13	frontier	frontier	NOUN
fsr-3891	307	14	approach.journal	approach.journal	PROPN
fsr-3891	307	15	of	of	ADP
fsr-3891	307	16	real	real	ADJ
fsr-3891	307	17	estate	estate	NOUN
fsr-3891	307	18	research	research	NOUN
fsr-3891	307	19	.	.	PUNCT
fsr-3891	308	1	ball	ball	NOUN
fsr-3891	308	2	,	,	PUNCT
fsr-3891	308	3	s.	s.	PROPN
fsr-3891	308	4	(	(	PUNCT
fsr-3891	308	5	1990	1990	NUM
fsr-3891	308	6	)	)	PUNCT
fsr-3891	308	7	.	.	PUNCT
fsr-3891	309	1	make	make	VERB
fsr-3891	309	2	the	the	DET
fsr-3891	309	3	most	most	ADJ
fsr-3891	309	4	of	of	ADP
fsr-3891	309	5	referral	referral	ADJ
fsr-3891	309	6	business.today	business.today	NUM
fsr-3891	309	7	’s	’s	PART
fsr-3891	309	8	realtor	realtor	NOUN
fsr-3891	309	9	,	,	PUNCT
fsr-3891	309	10	23	23	NUM
fsr-3891	309	11	,	,	PUNCT
fsr-3891	309	12	27	27	NUM
fsr-3891	309	13	.	.	PUNCT
fsr-3891	310	1	berger	berger	PROPN
fsr-3891	310	2	,	,	PUNCT
fsr-3891	310	3	w.	w.	PROPN
fsr-3891	310	4	(	(	PUNCT
fsr-3891	310	5	1997	1997	NUM
fsr-3891	310	6	)	)	PUNCT
fsr-3891	310	7	.	.	PUNCT
fsr-3891	311	1	just	just	ADV
fsr-3891	311	2	whom	whom	PRON
fsr-3891	311	3	do	do	VERB
fsr-3891	311	4	affinity	affinity	NOUN
fsr-3891	311	5	relationships	relationship	NOUN
fsr-3891	311	6	benefit.today	benefit.today	NOUN
fsr-3891	311	7	’s	’s	PART
fsr-3891	311	8	realtor	realtor	NOUN
fsr-3891	311	9	,	,	PUNCT
fsr-3891	311	10	29,46–49	29,46–49	PROPN
fsr-3891	311	11	.	.	PUNCT
fsr-3891	312	1	dezube	dezube	PROPN
fsr-3891	312	2	,	,	PUNCT
fsr-3891	312	3	d.	d.	PROPN
fsr-3891	312	4	(	(	PUNCT
fsr-3891	312	5	1996	1996	NUM
fsr-3891	312	6	)	)	PUNCT
fsr-3891	312	7	.	.	PUNCT
fsr-3891	313	1	hold	hold	VERB
fsr-3891	313	2	on	on	ADP
fsr-3891	313	3	to	to	ADP
fsr-3891	313	4	your	your	PRON
fsr-3891	313	5	wallet	wallet	NOUN
fsr-3891	313	6	:	:	PUNCT
fsr-3891	313	7	referral	referral	ADJ
fsr-3891	313	8	fees	fee	NOUN
fsr-3891	313	9	are	be	AUX
fsr-3891	313	10	growing.today	growing.today	NOUN
fsr-3891	313	11	’s	’s	PART
fsr-3891	313	12	realtor	realtor	NOUN
fsr-3891	313	13	,	,	PUNCT
fsr-3891	313	14	29,42–45	29,42–45	PROPN
fsr-3891	313	15	.	.	PUNCT
fsr-3891	314	1	lewis	lewis	PROPN
fsr-3891	314	2	,	,	PUNCT
fsr-3891	314	3	d.	d.	PROPN
fsr-3891	314	4	&	&	CCONJ
fsr-3891	314	5	anderson	anderson	PROPN
fsr-3891	314	6	,	,	PUNCT
fsr-3891	314	7	r.	r.	PROPN
fsr-3891	314	8	(	(	PUNCT
fsr-3891	314	9	1999	1999	NUM
fsr-3891	314	10	)	)	PUNCT
fsr-3891	314	11	.	.	PUNCT
fsr-3891	315	1	is	be	AUX
fsr-3891	315	2	franchising	franchise	VERB
fsr-3891	315	3	more	more	ADJ
fsr-3891	315	4	cost	cost	NOUN
fsr-3891	315	5	efficient	efficient	ADJ
fsr-3891	315	6	?	?	PUNCT
fsr-3891	316	1	the	the	DET
fsr-3891	316	2	case	case	NOUN
fsr-3891	316	3	of	of	ADP
fsr-3891	316	4	the	the	DET
fsr-3891	316	5	residential	residential	ADJ
fsr-3891	316	6	real	real	ADJ
fsr-3891	316	7	estate	estate	NOUN
fsr-3891	316	8	brokerage	brokerage	NOUN
fsr-3891	316	9	industry.real	industry.real	PROPN
fsr-3891	316	10	estate	estate	NOUN
fsr-3891	316	11	economics	economic	NOUN
fsr-3891	316	12	,	,	PUNCT
fsr-3891	316	13	27,543–560	27,543–560	NUM
fsr-3891	316	14	.	.	PUNCT
fsr-3891	317	1	meeusen	meeusen	PROPN
fsr-3891	317	2	,	,	PUNCT
fsr-3891	317	3	w.	w.	PROPN
fsr-3891	317	4	&	&	CCONJ
fsr-3891	317	5	van	van	PROPN
fsr-3891	317	6	den	den	PROPN
fsr-3891	317	7	brock	brock	PROPN
fsr-3891	317	8	,	,	PUNCT
fsr-3891	317	9	j.	j.	PROPN
fsr-3891	317	10	(	(	PUNCT
fsr-3891	317	11	1977	1977	NUM
fsr-3891	317	12	)	)	PUNCT
fsr-3891	317	13	.	.	PUNCT
fsr-3891	318	1	efficiency	efficiency	NOUN
fsr-3891	318	2	estimation	estimation	NOUN
fsr-3891	318	3	from	from	ADP
fsr-3891	318	4	cobb	cobb	PROPN
fsr-3891	318	5	-	-	PUNCT
fsr-3891	318	6	douglas	douglas	PROPN
fsr-3891	318	7	production	production	NOUN
fsr-3891	318	8	functions	function	NOUN
fsr-3891	318	9	with	with	ADP
fsr-3891	318	10	composed	compose	VERB
fsr-3891	318	11	error.international	error.international	ADJ
fsr-3891	318	12	economic	economic	ADJ
fsr-3891	318	13	review,18435–444	review,18435–444	PROPN
fsr-3891	318	14	.	.	PUNCT
fsr-3891	319	1	mcmillan	mcmillan	PROPN
fsr-3891	319	2	,	,	PUNCT
fsr-3891	319	3	d.	d.	PROPN
fsr-3891	319	4	(	(	PUNCT
fsr-3891	319	5	1997	1997	NUM
fsr-3891	319	6	)	)	PUNCT
fsr-3891	319	7	.	.	PUNCT
fsr-3891	320	1	affinity	affinity	NOUN
fsr-3891	320	2	relationships	relationship	NOUN
fsr-3891	320	3	hot	hot	ADJ
fsr-3891	320	4	elsewhere	elsewhere	ADV
fsr-3891	320	5	,	,	PUNCT
fsr-3891	320	6	but	but	CCONJ
fsr-3891	320	7	not	not	PART
fsr-3891	320	8	here	here	ADV
fsr-3891	320	9	:	:	PUNCT
fsr-3891	320	10	real	real	ADJ
fsr-3891	320	11	estate	estate	NOUN
fsr-3891	320	12	discount	discount	NOUN
fsr-3891	320	13	for	for	ADP
fsr-3891	320	14	business	business	NOUN
fsr-3891	320	15	groups	group	NOUN
fsr-3891	320	16	rare	rare	ADJ
fsr-3891	320	17	in	in	ADP
fsr-3891	320	18	portland.business	portland.business	PROPN
fsr-3891	320	19	journal	journal	NOUN
fsr-3891	320	20	-	-	PUNCT
fsr-3891	320	21	portland	portland	PROPN
fsr-3891	320	22	,	,	PUNCT
fsr-3891	320	23	14,24–25	14,24–25	PROPN
fsr-3891	320	24	.	.	PUNCT
fsr-3891	321	1	national	national	PROPN
fsr-3891	321	2	association	association	PROPN
fsr-3891	321	3	of	of	ADP
fsr-3891	321	4	realtors©.real	realtors©.real	NOUN
fsr-3891	321	5	.	.	PUNCT
fsr-3891	322	1	estate	estate	NOUN
fsr-3891	322	2	brokerage	brokerage	NOUN
fsr-3891	322	3	industry	industry	NOUN
fsr-3891	322	4	practices	practice	NOUN
fsr-3891	322	5	:	:	PUNCT
fsr-3891	322	6	affinity	affinity	NOUN
fsr-3891	322	7	and	and	CCONJ
fsr-3891	322	8	referral	referral	ADJ
fsr-3891	322	9	/	/	SYM
fsr-3891	322	10	relocation	relocation	NOUN
fsr-3891	322	11	relationships,1996	relationships,1996	NOUN
fsr-3891	322	12	.	.	PUNCT
fsr-3891	323	1	national	national	PROPN
fsr-3891	323	2	association	association	PROPN
fsr-3891	323	3	of	of	ADP
fsr-3891	323	4	realtors©.profile	realtors©.profile	NOUN
fsr-3891	323	5	of	of	ADP
fsr-3891	323	6	real	real	ADJ
fsr-3891	323	7	estate	estate	NOUN
fsr-3891	323	8	firms	firm	NOUN
fsr-3891	323	9	,	,	PUNCT
fsr-3891	323	10	washington	washington	PROPN
fsr-3891	323	11	,	,	PUNCT
fsr-3891	323	12	d.c	d.c	PROPN
fsr-3891	323	13	.	.	PROPN
fsr-3891	323	14	1998	1998	NUM
fsr-3891	323	15	.	.	PUNCT
fsr-3891	324	1	national	national	PROPN
fsr-3891	324	2	association	association	PROPN
fsr-3891	324	3	of	of	ADP
fsr-3891	324	4	realtors	realtor	NOUN
fsr-3891	324	5	©	©	PROPN
fsr-3891	324	6	.1997	.1997	ADJ
fsr-3891	324	7	real	real	ADJ
fsr-3891	324	8	estate	estate	NOUN
fsr-3891	324	9	brokerage	brokerage	NOUN
fsr-3891	324	10	industry	industry	NOUN
fsr-3891	324	11	practices	practice	NOUN
fsr-3891	324	12	:	:	PUNCT
fsr-3891	324	13	affinity	affinity	NOUN
fsr-3891	324	14	and	and	CCONJ
fsr-3891	324	15	referral/	referral/	NUM
fsr-3891	324	16	relocation	relocation	NOUN
fsr-3891	324	17	relationships,1998	relationships,1998	NOUN
fsr-3891	324	18	.	.	PUNCT
fsr-3891	325	1	reich	reich	PROPN
fsr-3891	325	2	–	–	PUNCT
fsr-3891	325	3	hale	hale	PROPN
fsr-3891	325	4	,	,	PUNCT
fsr-3891	325	5	d.	d.	PROPN
fsr-3891	325	6	(	(	PUNCT
fsr-3891	325	7	1999	1999	NUM
fsr-3891	325	8	)	)	PUNCT
fsr-3891	325	9	.	.	PUNCT
fsr-3891	326	1	affinity	affinity	NOUN
fsr-3891	326	2	groups	group	NOUN
fsr-3891	326	3	offer	offer	VERB
fsr-3891	326	4	sales	sale	NOUN
fsr-3891	326	5	opportunities.national	opportunities.national	ADJ
fsr-3891	326	6	underwriter	underwriter	NOUN
fsr-3891	326	7	property	property	NOUN
fsr-3891	326	8	&	&	CCONJ
fsr-3891	326	9	casualty	casualty	NOUN
fsr-3891	326	10	-	-	PUNCT
fsr-3891	326	11	risk	risk	NOUN
fsr-3891	326	12	&	&	CCONJ
fsr-3891	326	13	benefits	benefits	PROPN
fsr-3891	326	14	management	management	NOUN
fsr-3891	326	15	,	,	PUNCT
fsr-3891	326	16	103,12–13	103,12–13	NUM
fsr-3891	326	17	.	.	PUNCT
fsr-3891	327	1	terrell	terrell	PROPN
fsr-3891	327	2	,	,	PUNCT
fsr-3891	327	3	d.	d.	PROPN
fsr-3891	327	4	(	(	PUNCT
fsr-3891	327	5	1996	1996	NUM
fsr-3891	327	6	)	)	PUNCT
fsr-3891	327	7	.	.	PUNCT
fsr-3891	328	1	incorporating	incorporate	VERB
fsr-3891	328	2	monotonicity	monotonicity	NOUN
fsr-3891	328	3	and	and	CCONJ
fsr-3891	328	4	concavity	concavity	NOUN
fsr-3891	328	5	restrictions	restriction	NOUN
fsr-3891	328	6	in	in	ADP
fsr-3891	328	7	flexible	flexible	ADJ
fsr-3891	328	8	functional	functional	ADJ
fsr-3891	328	9	forms.journal	forms.journal	ADJ
fsr-3891	328	10	of	of	ADP
fsr-3891	328	11	applied	applied	ADJ
fsr-3891	328	12	econometrics	econometric	NOUN
fsr-3891	328	13	,	,	PUNCT
fsr-3891	328	14	11,179–194	11,179–194	NUM
fsr-3891	328	15	.	.	PUNCT
fsr-3891	329	1	zumpano	zumpano	PROPN
fsr-3891	329	2	,	,	PUNCT
fsr-3891	329	3	l.	l.	PROPN
fsr-3891	329	4	v.	v.	PROPN
fsr-3891	329	5	,	,	PUNCT
fsr-3891	329	6	elder	elder	NOUN
fsr-3891	329	7	,	,	PUNCT
fsr-3891	329	8	h.	h.	PROPN
fsr-3891	329	9	w.	w.	PROPN
fsr-3891	329	10	,	,	PUNCT
fsr-3891	329	11	&	&	CCONJ
fsr-3891	329	12	anderson	anderson	PROPN
fsr-3891	329	13	,	,	PUNCT
fsr-3891	329	14	r.	r.	PROPN
fsr-3891	329	15	i.	i.	PROPN
fsr-3891	329	16	(	(	PUNCT
fsr-3891	329	17	2000	2000	NUM
fsr-3891	329	18	)	)	PUNCT
fsr-3891	329	19	.	.	PUNCT
fsr-3891	330	1	the	the	DET
fsr-3891	330	2	residential	residential	ADJ
fsr-3891	330	3	real	real	ADJ
fsr-3891	330	4	estate	estate	NOUN
fsr-3891	330	5	market	market	NOUN
fsr-3891	330	6	:	:	PUNCT
fsr-3891	330	7	an	an	DET
fsr-3891	330	8	analysis	analysis	NOUN
fsr-3891	330	9	of	of	ADP
fsr-3891	330	10	revenue	revenue	NOUN
fsr-3891	330	11	and	and	CCONJ
fsr-3891	330	12	cost	cost	NOUN
fsr-3891	330	13	conditions	condition	NOUN
fsr-3891	330	14	over	over	ADP
fsr-3891	330	15	the	the	DET
fsr-3891	330	16	last	last	ADJ
fsr-3891	330	17	decade.journal	decade.journal	PROPN
fsr-3891	330	18	of	of	ADP
fsr-3891	330	19	real	real	ADJ
fsr-3891	330	20	estate	estate	NOUN
fsr-3891	330	21	research	research	NOUN
fsr-3891	330	22	,	,	PUNCT
fsr-3891	330	23	18,1/2	18,1/2	PROPN
fsr-3891	330	24	.	.	PUNCT
fsr-3891	331	1	zumpano	zumpano	PROPN
fsr-3891	331	2	,	,	PUNCT
fsr-3891	331	3	l.	l.	PROPN
fsr-3891	331	4	v.	v.	PROPN
fsr-3891	331	5	&	&	CCONJ
fsr-3891	331	6	elder	elder	PROPN
fsr-3891	331	7	,	,	PUNCT
fsr-3891	331	8	h.	h.	PROPN
fsr-3891	331	9	w.	w.	PROPN
fsr-3891	331	10	(	(	PUNCT
fsr-3891	331	11	1994	1994	NUM
fsr-3891	331	12	)	)	PUNCT
fsr-3891	331	13	.	.	PUNCT
fsr-3891	332	1	economies	economy	NOUN
fsr-3891	332	2	of	of	ADP
fsr-3891	332	3	scope	scope	NOUN
fsr-3891	332	4	and	and	CCONJ
fsr-3891	332	5	density	density	NOUN
fsr-3891	332	6	in	in	ADP
fsr-3891	332	7	the	the	DET
fsr-3891	332	8	market	market	NOUN
fsr-3891	332	9	for	for	ADP
fsr-3891	332	10	real	real	ADJ
fsr-3891	332	11	estate	estate	NOUN
fsr-3891	332	12	brokerage	brokerage	NOUN
fsr-3891	332	13	services.american	services.american	VERB
fsr-3891	332	14	real	real	ADJ
fsr-3891	332	15	estate	estate	NOUN
fsr-3891	332	16	and	and	CCONJ
fsr-3891	332	17	urban	urban	ADJ
fsr-3891	332	18	economics	economics	PROPN
fsr-3891	332	19	association	association	PROPN
fsr-3891	332	20	journal	journal	PROPN
fsr-3891	332	21	,	,	PUNCT
fsr-3891	332	22	22,497–513	22,497–513	PROPN
fsr-3891	332	23	.	.	PUNCT
fsr-3891	333	1	zumpano	zumpano	PROPN
fsr-3891	333	2	,	,	PUNCT
fsr-3891	333	3	l.	l.	PROPN
fsr-3891	333	4	v.	v.	PROPN
fsr-3891	333	5	,	,	PUNCT
fsr-3891	333	6	elder	elder	NOUN
fsr-3891	333	7	,	,	PUNCT
fsr-3891	333	8	h.	h.	PROPN
fsr-3891	333	9	w.	w.	PROPN
fsr-3891	333	10	,	,	PUNCT
fsr-3891	333	11	&	&	CCONJ
fsr-3891	333	12	crellin	crellin	PROPN
fsr-3891	333	13	,	,	PUNCT
fsr-3891	333	14	g.	g.	PROPN
fsr-3891	333	15	e.	e.	PROPN
fsr-3891	333	16	(	(	PUNCT
fsr-3891	333	17	1993	1993	NUM
fsr-3891	333	18	)	)	PUNCT
fsr-3891	333	19	.	.	PUNCT
fsr-3891	334	1	the	the	DET
fsr-3891	334	2	market	market	NOUN
fsr-3891	334	3	for	for	ADP
fsr-3891	334	4	residential	residential	ADJ
fsr-3891	334	5	real	real	ADJ
fsr-3891	334	6	estate	estate	NOUN
fsr-3891	334	7	brokerage	brokerage	NOUN
fsr-3891	334	8	services	service	NOUN
fsr-3891	334	9	:	:	PUNCT
fsr-3891	334	10	costs	cost	NOUN
fsr-3891	334	11	of	of	ADP
fsr-3891	334	12	production	production	NOUN
fsr-3891	334	13	and	and	CCONJ
fsr-3891	334	14	economies	economy	NOUN
fsr-3891	334	15	of	of	ADP
fsr-3891	334	16	scale.journal	scale.journal	NOUN
fsr-3891	334	17	of	of	ADP
fsr-3891	334	18	real	real	ADJ
fsr-3891	334	19	estate	estate	NOUN
fsr-3891	334	20	finance	finance	NOUN
fsr-3891	334	21	and	and	CCONJ
fsr-3891	334	22	economics	economic	NOUN
fsr-3891	334	23	,	,	PUNCT
fsr-3891	334	24	6,237–250	6,237–250	NUM
fsr-3891	334	25	.	.	PUNCT
fsr-3891	335	1	197d	197d	PROPN
fsr-3891	335	2	.	.	PUNCT
fsr-3891	336	1	lewis	lewis	PROPN
fsr-3891	336	2	et	et	PROPN
fsr-3891	336	3	al	al	PROPN
fsr-3891	336	4	.	.	PUNCT
fsr-3891	336	5	/	/	SYM
fsr-3891	336	6	financial	financial	ADJ
fsr-3891	336	7	services	service	NOUN
fsr-3891	336	8	review	review	VERB
fsr-3891	336	9	8	8	NUM
fsr-3891	336	10	(	(	PUNCT
fsr-3891	336	11	1999	1999	NUM
fsr-3891	336	12	)	)	PUNCT
fsr-3891	336	13	183–197	183–197	NUM