Real Estate Markets Are Informationally Efficient: Evidence from Buyer and Agent/Broker Surveys

This article presents new evidence based on unpublished buyer surveys and real estate agent and broker surveys supporting the consensus in the published literature that real estate markets are informationally efficient. This evidence is drawn from expert reports submitted in litigation involving claims that contamination caused property value diminution, and presents a new hedonic regression model of residential sales prices that includes as an independent variable the state of knowledge of the buyer regarding a contamination event. In this model the state of knowledge of the buyer has no statistically significant effect on the sales price. The article also discusses standards for the use of buyer and agent/broker surveys in litigation.     

Die Zugriffsverbote des § 42 Abs. 1 BNatSchG im Zulassungs- und Bauleitplanverfahren – unter Berücksichtigung der Entscheidung des BVerwG zur Ortsumgehung Bad Oeynhausen (in diesem Heft)

Zusammenfassung  Artenschutzrechtliche Regelungen schieben sich in verwaltungsrechtlichen Zulassungsverfahren immer mehr in den Vordergrund und erweisen sich als ein ?u?erst schwieriger Problemkreis. Teilweise scheint der Artenschutz inzwischen der Kernpunkt der naturschutzrechtlichen Beurteilung zu werden, wobei die Reichweite der Tatbestandsmerkmale nicht immer beachtet wird. Die nachfolgende Ausführungen sollen dazu beitragen, den Anwendungsbereich der artenschutzrechtlichen Verbote nach § 42 Abs. 1 BNatSchG zu konturieren und deren Umfang der gesetzlichen Einschr?nkungen zu erl?utern. Die Entscheidung des BVerwG zur Ortsumgehung Bad Oeynhausen wurde berücksichtigt.     

A Guide to Benchmarking COVID-19 Performance Data

If the COVID-19 pandemic has taught us anything, it is that policy makers, experts, and public managers need to be capable of interpreting comparative data on their government's performance in a meaningful way. Simultaneously, they are confronted with different data sources (and measurements) on COVID-19 without necessarily having the tools to assess these sources strategically. Because of the speed with which decisions are required and the different data sources, it can be challenging for any policy maker, expert, or public manager to make sense of how COVID-19 has an impact, especially from a comparative perspective. Starting from the question “How can we benchmark COVID-19 performance data across countries?,” this article presents important indicators, measurements, and their strengths and weaknesses, and concludes with practical recommendations. These include a focus on measurement equivalence, systems thinking, spatial and temporal thinking, multilevel governance, and multimethod designs.