ERES:conference

For most households, choosing whether to rent or buy a home is a difficult, multifaceted problem. It is well-established that relative cost and affordability aspects are important for the household's tenure decision, such as the tax treatment of owner-occupied homes, the cost of moving home, and...

This study applies a complex systems approach to test for the presence of rational bubbles in the Equity REITs market. The applied model is based on theoretical implications of the evolution of prices under rational bubble regimes. The advantage of the approach is twofold. The model is able to...

It is well known that institutional investors are noticeably overweight in the City of London office market and substantially underweight in offices in the rest of the UK. An economically sensible way to measure this bias is to calculate the additional required return on offices outside the City...

In the 1990s, first projects emerged in Poland as first forms of PPPs. These involved municipal services and the construction/improvement of technical infrastructure facilities, and were mainly small investments implemented by local governments. At that time, the institution of public-private...

Though industrial land is not a public good in the strict sense of the words a small part of the industrial estates has been developed by the private sector municipalities have nevertheless often treated the provision of industrial land more or less similar to the provision of other public...

[abstract missing - contribution appeared in the programme]

ERES:conference

The decision making behaviour of institutional investors usually target prime commercial real estate. The rationale for this investment strategy is to maximise the risk adjusted returns and the diversification potential as well as quality buildings, tenant covenant strength and the subsequent...

This paper contributes to a fast growing literature which introduces game theory in the analysis of real option investments in a competitive setting. Specifically, in this paper we focus on the issue of market incompleteness and the practical difficulty of finding a twin security in order to...