Thank you very much.
Another study of yours looks at the residential property flipping rule. In this study, you measure the behavioural response to this policy, which is specifically intended to change people's behaviour and discourage them from buying properties to quickly resell them, getting rich in the process.
How did your team evaluate the behavioural response? In your view, the response appears to be based on the assumption that 50% of eligible tax filers will delay selling to avoid paying tax under the new rule. Is that just one of many assumptions, or was your thinking backed by other evidence?