Real and Private-Value Assets

William N. Goetzmann, Christophe Spaenjers and Stijn Van Nieuwerburgh
Additional contact information
William N. Goetzmann: Yale School of Management - International Center for Finance; National Bureau of Economic Research (NBER)
Christophe Spaenjers: HEC Paris

No 1421, HEC Research Papers Series from HEC Paris

Abstract: Real and private-value assets—defined here as the sum of real estate, infrastructure, collectibles, and noncorporate business equity—compose an investment class worth an estimated $84 trillion in the U.S. alone. Furthermore, private values can affect pricing in many other financial markets, such as that for sustainable investments. This paper introduces the research on real assets and private values that can be found in this special issue. It also reviews recent advances and highlights new research directions on a number of topics in the real assets space that we believe to be particularly important and exciting.

Keywords: real estate; infrastructure; collectibles; entrepreneurship; sustainable investing (search for similar items in EconPapers)
JEL-codes: G11 G12 G41 R31 R33 Z11 (search for similar items in EconPapers)
Pages: 37 pages
Date: 2021-03-12
References: Add references at CitEc
Citations: View citations in EconPapers (3)

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Related works:
Journal Article: Real and Private-Value Assets (2021)
Working Paper: Real and Private Value Assets (2021)
Working Paper: Real and Private-Value Assets (2021)
Working Paper: Real and Private-Value Assets (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:ebg:heccah:1421

DOI: 10.2139/ssrn.3803091

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