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      Information Frictions in Real Estate Markets: Recent Evidence and Issues

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          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.

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          Theory of the firm: Managerial behavior, agency costs and ownership structure

          Michael Jensen, William H. Meckling (1976)
          Article 0 comments Cited 2084 times – based on 0 reviews     Review now
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            Job Market Signaling

            Michael Spence (1973)
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              Corporate financing and investment decisions when firms have information that investors do not have

              Stewart C. Myers, Nicholas Majluf (1984)
              Article 0 comments Cited 1055 times – based on 0 reviews     Review now
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                Author and article information

                Contributors
                Daniel Broxterman: dbroxterman@business.fsu.edu
                Tingyu Zhou:
                ORCID: http://orcid.org/0000-0002-2787-9137
                tzhou@business.fsu.edu
                Journal
                Journal ID (iso-abbrev): J Real Estate Finan Econ
                Title: The Journal of Real Estate Finance and Economics
                Publisher: Springer US (New York )
                ISSN (Print): 0895-5638
                ISSN (Electronic): 1573-045X
                Publication date (Electronic): 2 August 2022
                Pages: 1-97
                Affiliations
                GRID grid.255986.5, ISNI 0000 0004 0472 0419, Florida State University, ; 821 Academic Way, Tallahassee, FL 32306 USA
                Author information
                http://orcid.org/0000-0002-2787-9137
                Article
                Publisher ID: 9918
                DOI: 10.1007/s11146-022-09918-9
                PMC ID: 9344229
                SO-VID: 5df3972b-11ac-4370-b971-1e19e9db76e1
                Copyright © © The Author(s), under exclusive licence to Springer Science+Business Media, LLC, part of Springer Nature 2022, Springer Nature or its licensor holds exclusive rights to this article under a publishing agreement with the author(s) or other rightsholder(s); author self-archiving of the accepted manuscript version of this article is solely governed by the terms of such publishing agreement and applicable law.
                License:

                This article is made available via the PMC Open Access Subset for unrestricted research re-use and secondary analysis in any form or by any means with acknowledgement of the original source. These permissions are granted for the duration of the World Health Organization (WHO) declaration of COVID-19 as a global pandemic.

                History
                Date accepted : 14 July 2022
                Categories
                Subject: Article

                Keywords: real estate,reit,brokerage,asymmetric information,adverse selection,moral hazard,agency costs,d82,d86,g14,k25,r21,r33
                Data availability:
                Keywords: real estate, reit, brokerage, asymmetric information, adverse selection, moral hazard, agency costs, d82, d86, g14, k25, r21, r33

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