This paper reviews the literature on price determination in the private and public real estate
markets. In particular, it discusses the processes of appraisal smoothing in the private …

Real estate asset management has been and will continue to be a topic of great interest.
Specifically, does real estate warrant inclusion in an efficient portfolio? And if so, how much …

This is the first paper to examine how the COVID-19 shock transmitted from the asset
markets to capital markets. Using a novel measure of the exposure of commercial real estate …

The basic paradigm of asset pricing is in vibrant flux. The purely rational approach is being
subsumed by a broader approach based upon the psychology of investors. In this approach …

We review extensive evidence about how psychological biases affect investor behavior and
prices. Systematic mispricing probably causes substantial resource misallocation. We argue …

This new text provides a rigorous analysis of real estate markets. Three main sections cover:
microeconomics of property markets the macroeconomics of commercial property the …

The aim of this study is to examine whether securitized real estate returns reflect direct real
estate returns or general stock market returns using international data for the US, UK, and …

Property investment markets and applied property research are now recognised as an
increasingly important international phenomenon. Written by two of the most respected …

This paper examines the link between REIT, financial asset and real estate returns, and tests
whether it changed subsequent to the “REIT boom” of the early 1990s. The main focus is on …

This study examines the sensitivity of equity real estate investment trust (REIT) returns to
returns on other asset classes, including real estate, using an estimation method that …