Entropy – what kind of bet is real estate – really?

Roger J. Brown

Journal of Property Investment & Finance, 2017, vol. 35, issue 3, 341-351

Abstract: Purpose - The purpose of this paper is to describe the way real estate data collection and dissemination can be improved. Design/methodology/approach - The paper investigates that how information entropy fits into real estate research and data using Kelly betting as a framework. Findings - Availability of real estate data is constrained by a host of impediments, paywalls and other archaic practices that limit the way it can be used to make worthwhile progress in the field. Practical implications - Real-estate data will become available. Those who try to keep data close and restrict their common use will become irrelevant. Originality/value - Entropy indicates uncertainty and chaos. Using this highly developed and respected area of science as context one can see how real estate research suffers from its present mindset.

Keywords: Decision theory; Data collection and availability; Digitization of real estate; Entropy; Kelly betting; Shannon information theory (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:eme:jpifpp:jpif-10-2016-0078

DOI: 10.1108/JPIF-10-2016-0078

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