Efficient Real Estate Markets: Paradox or Paradigm?†
探讨是否应将有效市场范式用于房地产市场的建模与检验，回顾了现有弱式和半强式效率检验，并讨论接受该范式对研究和实践的影响。
This paper examines the question of whether an efficient markets paradigm should be adopted for the modelling and testing of real estate markets. It considers the perceived imperfections commonly suggested for these markets and reviews the existing weak form and semistrong form tests of real estate efficiency. Finally, it examines some of the likely implications for real estate research and practice resulting from the acceptance of such a paradigm.