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Information Frictions in Real Estate Markets: Recent Evidence and Issues

Daniel Broxterman () and Tingyu Zhou
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Daniel Broxterman: Florida State University

The Journal of Real Estate Finance and Economics, 2023, vol. 66, issue 2, No 2, 203-298

Abstract: Abstract This article reviews research on the economics of information in real estate. It covers equity investment in private and public markets and intermediation by brokers. The review shows how, by examining the nature and extent of information frictions in these important markets, research has improved our understanding of potential market failures and corrections which can improve market functioning.

Keywords: Real estate; REIT; Brokerage; Asymmetric information; Adverse selection; Moral hazard; Agency costs (search for similar items in EconPapers)
JEL-codes: D82 D86 G14 K25 R21 R33 (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/s11146-022-09918-9

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