The office market: A lemon market? : A study of the Malmö CBD market

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The office market: A lemon market? : A study of the Malmö CBD market

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Publication Article, peer reviewed scientific
Title The office market: A lemon market? : A study of the Malmö CBD market
Author(s) Palm, Peter
Date 2015
English abstract
Purpose – The purpose of this paper is to test whether bad real estate owners drive out good real estate owners from the online marketplace for offices. Design/methodology/approach – This research is based on a statistical analysis of the advertisement of offices in Malmö CBD, collected weekly during a period of one year. Findings – The hypothesis that the market for advertisement of office properties is a lemons market cannot be rejected. The result that owners who have appeared in court more than once in the last two years being more inclined to advertise supports this. Research limitations/implications – The research in this paper is limited to the Malmö CBD office market. Practical implications: It provides an insight in how the online market place for offices works as a marketplace and how quality signals influences advertisement. Originality/value – This paper is a direct test of Akerlofs classical lemon model. Keywords – Lemon Market, Office market, Leasing, Quality in Real Estate Management
DOI http://dx.doi.org/10.1108/JPIF-12-2014-0073 (link to publisher's fulltext)
Publisher Emerald
Host/Issue Journal of Property Investment and Finance;2
Volume 33
ISSN 1463-578X
Pages 140-155
Language eng (iso)
Subject(s) Lemon market
Office market
Leasing
Quality in real estate management
Humanities/Social Sciences
Research Subject Categories::INTERDISCIPLINARY RESEARCH AREAS
Handle http://hdl.handle.net/2043/19631 (link to this page)

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