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Markets, Market Structures and Market Change: Expanding the Real Estate Research Paradigm

Author/s: Éamonn D’arcy

Date Published: 1/01/2006

Published in: Volume 12 - 2006 Issue 4 (pages 446 - 464)

Abstract

This paper seeks to challenge conventional thinking about markets and issues of market structure and market change in real estate research. Using a broadly institutional economics approach to markets it proposes a framework for analysis which focuses on the range of objectives the market accommodates, the origins of pressures for change, the objectives of market actors and their market roles. Two applications are considered as illustratios of the potential of this approach to reveal important insights into how real estate markets work in practice.

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Keywords

Market Change - Market Structure - Real Estate Markets

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