We construct two classes of risk-reward measures - one by generalizing the mean-variance model of Markowitz (1952), and the other by generalizing the gain-loss model of Bernardo amp; Ledoit (2000) - and develop, for these economies, the following: (i) a CAPM-like relative pricing equation; (ii)...

This paper explains why selection in the US reverse mortgage market to date has been advantageous rather than adverse. Reverse mortgages let quot;house rich, cash poorquot; older homeowners transfer wealth from the wealthy period after their home is sold to the impoverished period before. Near...

This paper proposes and develops a replication method for estimating property values, in which optimal weights of comparable property attributes that best duplicate the subject property are determined. In a setting where the number of comparables is large compared to the number of attributes,...