Theoretical Aspects of State regulation of Residential Real Estate Market

Abstract:

In this paper we study four neoclassical cases of «market failures» for the real estate market: the restriction of competition, information asymmetry, underproduction of public goods and the overproduction of negative externalities. The neoclassical approach to the analysis of the real estate market is supplemented by the neoinstitutional approach that allowed us to formulate more precisely the approaches to government regulation in each case of real estate «market failures».