Dong, Zhi; Sing, Tien Foo - In: Journal of Property Investment & Finance 35 (2017) 5, pp. 472-488
Purpose The purpose of this paper is to examine developers’ optimal development timing when developers are …-stochastic-variable model. Anecdotal evidence and market observations are presented. Findings Stronger developers (with low marginal costs …) exercise real estate development options earlier than weaker developers (with high marginal costs). However, the interval time …