The price of a single-family house can be viewed as the bundle of the land price, and the replacement/construction cost of the structure, adjusted for depreciation. Given the difficulty in obtaining accurate estimates of each of the elements, previous researches estimate land price as the...

While the world went through rapid urbanization in the last half century, house prices in many densely populated metropolitan regions are becoming increasingly unaffordable. As a result, many families turn to rental housing. However, the high rents in some markets also place significant burdens...

In the summer of 2006, U.S. national home price peaked, and simultaneously the U.S. home ownership rate also reached its highest level in history. Ever since then, the U.S. home ownership rate has shown steady decline, as some households are foreclosed out of their homes, and some households are...

We study how to manage commodity risks (price and volume) via procurement and financial hedging for a value-at-risk (VaR) risk-averse newsvendor. Facing stochastic procurement cost from the commodity market, the firm decides on its financial hedging strategy contingent on the procurement cost...

We propose an employee sentiment index, which complements investor sentiment and manager sentiment indices, and find that high employee sentiment predicts a subsequent low market return, significant both in- and out-of-sample. The predictability of the employee sentiment index can also deliver...