Description
Book SynopsisInformation Economics with Real Estate Applications provides the reader with an academic toolkit to understand strategic interactions of individuals and companies in a world of scarce resources and asymmetric information. Beyond theoretical frameworks and models, examples in the real estate and construction industry are used to illustrate the practical relevance of the concepts discussed.
Property developers, brokers, construction firms and investment managers as individuals or companies make decisions in response to their clients', customers' and partners' behaviours. To align conflicting interests and achieve optimal outcomes for individuals, companies and society at large, those interactions need to be governed efficiently. Using models from microeconomics and contract theory, this book helps the reader to analyse the complex relations between different industry stakeholders from the perspective of markets and organisations.
Although it mainly targets stude
Table of Contents
Preface xiii
Acknowledgements xvii
Contributors xix
I Foundations
1 Basic microeconomics
2 Game theory
II Market perspective
3 Oligopolies
4 Strategic interactions
III Organizational perspective
5 Models with randomness
6 Contracts
7 Hidden characteristics and adverse selection
8 Hidden actions and moral hazard
9 Property rights
A Additional material
Bibliography
Index
