Shilling, James D.; Sirmans, C.F.; Benjamin, John D. - In: Real Estate Economics 15 (1987) 1, pp. 742-752
This paper considers the problems peculiar to options on real estate, because of the special set of institutional factors influencing real estate markets. It is intended to serve as a reply to Johnson and Wofford [15] as well as provide an overall critique of option-pricing models in a real...