Information Economics With Real Estate Applications Fredrik Armerin by Fredrik Armerin, Madeleine Hoeft 9781032276014, 1032276010 instant download after payment.

Stakeholders in the built environment such as property developers, brokers, construction firms or investment managers do not act in an isolated fashion, but as part of a larger ecosystem. Individuals, companies and industries therefore need to take several factors and different types of information into account when making strategic decisions in response to their direct clients’, customers’ and partners’ behaviours. As such, they are inevitably linked to each other, both in informal and formal ways. The characteristics of these links determine how the actors choose to interact with each other in order to reach their goals in the light of conflicting interests, scarce resources and asymmetric information. It is therefore crucial to govern these interactions efficiently to reach optimal outcomes for individuals, companies and society at large.
Using the theoretical background of microeconomics and contract theory, this book provides
a structure to analyse and understand the interactions of different stakeholders in real estate and construction. It combines academic frameworks with real-world examples to emphasise the direct applicability of the concepts discussed. Although the intended audience of the book is students at the master or PhD level in real estate, property management and similar subjects without any previous knowledge in information economics, the general theory presented should be of interest to any student in economics and finance who wants an introductory text in information economics. By building upon real-world examples, the book allows industry practitioners to reflect on and optimise their business strategies in a more structured way. For a general overview, the connections between the chapters are oulined in Figure 1. Detailed descriptions of the different chapters follow in the next section.