| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w8877 |
| 来源ID | Working Paper 8877 |
| Confronting Information Asymmetries: Evidence from Real Estate Markets | |
| Mark J. Garmaise; Tobias J. Moskowitz | |
| 发表日期 | 2002-04-04 |
| 出版年 | 2002 |
| 语种 | 英语 |
| 摘要 | This paper studies the role of asymmetric information in commercial real estate markets in the U.S. We propose a novel and exogenous measure of information based on the quality of property tax assessments in different regions. Employing direct and indirect information variables, we find strong evidence that information considerations are significant in this market. We show that market participants resolve information asymmetries by purchasing nearby properties, trading properties with long income histories, and avoiding transactions with informed professional brokers. The evidence that the choice of financing is used to address information concerns is mixed and weak. |
| 主题 | Financial Economics ; Financial Institutions ; Corporate Finance |
| URL | https://www.nber.org/papers/w8877 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/566484 |
| 推荐引用方式 GB/T 7714 | Mark J. Garmaise,Tobias J. Moskowitz. Confronting Information Asymmetries: Evidence from Real Estate Markets. 2002. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w8877.pdf（351KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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