We show that recent developments in hedonic pricing theory allow modeling of the equilibrium pricing function as the marginal cost of an additional housing unit plus a markup that varies inversely with the elasticity of demand. Useful information about demand elasticity at a given point on the...

This paper adopts the methodology in Bali and Cakici (Journal of Financial & Quantitative Analysis, 43, 29–58, <CitationRef CitationID="CR5">2008</CitationRef>) in tracking the evolution of the relation between equity REITs’ idiosyncratic risk and their cross-sectional expected returns between 1981 and 2010. In addition to the full...</citationref>

This study empirically tests the inflation-hedging abilities of Turkish REITs in comparison to the indices of common stocks listed on the Istanbul Stock Exchange (ISE) over the period December 1999 to December 2004. Two main factors motivate this study. First, compared to their counterparts in...