Real and private-value assets—defined here as the sum of real estate, infrastructure, collectibles, and noncorporate business equity—compose an investment class worth an estimated $84 trillion in the U.S. alone. Furthermore, private values can affect pricing in many other financial markets, such as that for sustainable investments. This paper introduces the research on real assets and private values that can be found in this special issue. It also reviews recent advances and highlights new research directions on a number of topics in the real assets space that we believe to be particularly important and exciting.

中文翻译：

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实物和私人价值资产

房地产和私有价值资产（这里定义为房地产，基础设施，收藏品和非公司业务股权的总和）构成了仅在美国就价值约84万亿美元的投资类别。此外，私人价值会影响许多其他金融市场的定价，例如可持续投资的定价。本文介绍了有关本期特刊中有关实物资产和私人价值的研究。它还回顾了最近的进展，并重点介绍了我们认为特别重要和令人兴奋的房地产资产领域中许多主题的新研究方向。