Information asymmetry in property transactions can affect the speed of these transactions in several ways. When real estate agents have more information about the market than the property owners, they can use this to their advantage to speed up or slow down transactions. For instance, they might hint at a problem in the market to encourage owners to sell faster. Alternatively, they might use coded language in listings to communicate information to other agents, which could also influence the pace of transactions.
Author Steven Levitt, working with journalist Stephen Dubner, shows how economic theories can be use...
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