Brownfield Development: Uncertainty, Asymmetric Information, and Risk Premia
This paper shows that brownfield redevelopment occurs at a lower than socially optimal rate due to a stigma effect. A theoretical framework is employed, incorporating asymmetric information showing this stigma within the brownfields market generates a first-mover problem. Developers require a risk p...
| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
MDPI AG
2020-03-01
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| Series: | Sustainability |
| Subjects: | |
| Online Access: | https://www.mdpi.com/2071-1050/12/5/2046 |