Real and Private-Value Assets

William Goetzmann, Christophe Spaenjers and Stijn Van Nieuwerburgh
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William Goetzmann: Yale School of Management - Yale University [New Haven]

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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)
Date: 2021-03-23
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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:hal:wpaper:hal-03501704

DOI: 10.2139/ssrn.3803091

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