Purpose – The purpose of this paper is to examine the risk-adjusted performance of US-based global real estate mutual funds (GREMFs) with emphasis on their ability to manage their domestic and foreign portfolios exposures. Design/methodology/approach – The paper applies common econometric...

The paper shows that being able to forecast another player's actual cooperation better than pure chance can change players' strategic incentives in a one-shot simultaneous PD-situation. In particular, it is shown that if both players have such ability (to forecast each others' actual choices...