Bers, Martina; Springer, Thomas M. - In: Journal of Real Estate Research 14 (1997) 3, pp. 275-290
Using the translog cost function to estimate economies of scale for a sample of Real Estate Investment Trusts for the years 1992-1994, we find significant evidence that economies of scale exist for REITs for all years examined. The results show that measurement of scale economies is sensitive to...