Information asymmetry in the real estate market can lead to a situation where one party, usually the seller or the real estate agent, has more information about the property than the buyer. This can lead to unfair practices such as overpricing or hiding defects of the property. However, it can also lead to more efficient transactions if the agent uses their superior information to match buyers with the right properties.
Author Steven Levitt, working with journalist Stephen Dubner, shows how economic theories can be use...
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