ERES:conference

Despite continuing developments in information technology and the growing economic significance of the emerging Eastern European, South American and Asian economies, international financial activity remains strongly concentrated in a relatively small number of international financial centres....

In this paper, cluster analytical techniques are used to examine dimensions of diversification in UK commercial property markets. A variety of techniques are used on a dataset which contains property returns for 156 property markets (67 retail locations, 64 office locations and 25 industrial...

Efficient markets should guarantee the existence of zero spreads for total return swaps. However, real estate markets have recorded values that are significantly different from zero in both directions. Possible explanations might suggest non-rational behaviour by inexperienced market players or...

Much UK research and market practice on portfolio strategy and performance benchmarking relies on a sector‐geography subdivision of properties. Prior tests of the appropriateness of such divisions have generally relied on aggregated or hypothetical return data. However, the results found in...

Individuals are prone to significant errors when making value judgements through the use of <italic>heuristics</italic> (cognitive short cuts) to simplify decision making. This paper uses an economic experiment to investigate the strength of arbitrary <italic>anchors</italic> in judgements over house prices among a student...

<italic>Planning policy aimed at preserving the viability of UK town centres halted the wave of out‐of‐town shopping centres -- Schiller's ‘third wave’ of decentralization. Subsequently, a number of major in‐town shopping centres were developed in the UK. The first of these was the Oracle...</italic>

L<sc>izieri</sc> C. and P<sc>ain</sc> K. International office investment in global cities: the production of financial space and systemic risk, <italic>Regional Studies</italic>. The paper explores the relationships between UK commercial real estate and regional economic development as a foundation for the analysis of the role of...

This paper argues that tenant placement strategies for large-scale multi-unit shopping centers differ depending on the number of floor levels. Two core strategies are identified: dispersion and departmentalization. There exists a trade-off between three income effects: basic footfall effects,...