Shimizu, Chihiro; Nishimura, Kiyohiko G.; Asami, Yasushi - Center for International Research on the Japanese … - 2003
The cost of imperfect information is estimated in the real estate market of resale condominiums in central Tokyo by using a new, comprehensive data set of resale condominium transactions. The results suggest a substantial cost. Specifically, if information were perfectly available and marketing...