Miceli, Thomas J.; Sirmans, C.F.; Stake, Denise - In: Journal of Real Estate Research 16 (1998) 1, pp. 113-126
This article explains why a profit-maximizing developer may include multiple, competing outlets in a shopping center. While competing outlets presumably dissipate potential profits, thereby lowering aggregate rents that the developer can extract, the presence of shopping externalities causes the...