Abstract
Purpose– The purpose of this paper is to test whether bad real estate owners drive out good real estate owners from the online marketplace for offices.Design/methodology/approach– This research is based on a statistical analysis of the advertisement of offices in Malmö CBD, collected weekly during a period of one year.Findings– The hypothesis that the market for advertisement of office properties is a lemons market cannot be rejected. The result that owners who have appeared in court more than once in the last two years being more inclined to advertise supports this.Research limitations/implications– The research in this paper is limited to the Malmö CBD office market.Practical implications– It provides an insight in how the online marketplace for offices works as a marketplace and how quality signals influences advertisement.Originality/value– This paper is a direct test of Akerlof’s classical lemon model.
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