Efficient Real Estate Markets: Paradox or Paradigm?

This paper examines the question of whether an efficient markets paradigm should be adopted for the modelling and testing of real estate markets. It considers the perceived imperfections commonly suggested for these markets and reviews the existing weak form and semistrong form tests of real estate...

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Veröffentlicht in:AREUEA Journal 1987-06, Vol.15 (2), p.1-12
1. Verfasser: Gau, George W.
Format: Artikel
Sprache:eng
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Zusammenfassung:This paper examines the question of whether an efficient markets paradigm should be adopted for the modelling and testing of real estate markets. It considers the perceived imperfections commonly suggested for these markets and reviews the existing weak form and semistrong form tests of real estate efficiency. Finally, it examines some of the likely implications for real estate research and practice resulting from the acceptance of such a paradigm.
ISSN:1080-8620
0270-0484
1540-6229
DOI:10.1111/1540-6229.00415