Globally, real estate trade is highly regularized. Usually, the market value is not negotiated simply between the seller and potential buyer but based on an assessment performed by a professional valuer, known as a surveyor or appraiser. This paper inquires about the economic role of valuers in...

This paper explains the structure of the law governing servitudes on land using key ideas from the economics of information, focusing on easements and covenants and the rules governing their formation and application. We develop a model of land markets that incorporates asymmetric information...

This chapter considers the landmark family property decisions of the House of Lords in Pettitt v. Pettitt [1970] AC 777 and Gissing v. Gissing [1971] AC 886 through the prism of imputed common intention, an idea advanced by Lord Diplock in Pettitt and (on one view) implemented in a different...

In his seminal 1970 article on lemon markets, George Akerlof posited the possibility of market failure in the presence of asymmetric information regarding a good’s value. In the intervening four decades, the importance of accurate valuation information has grown as transnational trade has...