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...

ERES:conference

Fundamental to assessing the future direction of commercial property markets is a clear understanding on the demand for space. This paper examines new space occupiers in three leading Australian property markets, identifying their motives and rationale for the new space and the current macro...

While there has been a great deal of research into the factors determining residential real estate agent/salesperson/broker income, little attention has been directed at how this income is generated. Numerous authors [ including, but not limited to, Follain, Lutes and Meier (1987), Glower and...

Applying a historical cost accounting (HCA) concept in property companies led on many occasions to a situation where everyone knew that the figures in balance sheets and income statements were wrong from a market perspective, but the analysts knew how the figures had arisen. Applying a fair...

The purpose of this study is to examine the relative performance of European commercial real estate markets, with an emphasis on the three largest evolving markets for the recent new entrants to the EU in May 2005 namely, Poland, the Czech Republic and Hungary. Employing a panel data oriented...

ERES:conference

Infrastructure provision is a multidimensional problem for governments and businesses globally. Decades of under-investment within developed economies combined with an insatiable appetite for infrastructure within emerging economies has culminated in an infrastructural deficit estimated at circa...

ERES:conference

ERES:conference