||On Efficiency of Real Estate Market
||The paper develops a theoretical framework to examine the efficiency of real market. First, I compare the efficiency concept of real estate market to that of capital market. Second, I show positive short-term house price correlation in a rational expectation model. Third, I discuss empirical implications of my work.
|Year of publication:
||efficient market, forecastable returns, informed investors, hedonic pricing
Gan, Quan (2011).
On Efficiency of Real Estate Market. 18th Annual European Real Estate Society Conference in Eindhoven, the Netherlands,