This article proposes a new model to measure the risk appetite in absence of option prices. Without options transaction, traditional measurements cannot be made. This article establishes a Risk Appetite (RA) indicator by way of change measure and simulation, with two density functions, i.e....

This article investigates the dynamic conditional correlation between price and rental among four types of real estate markets, namely housing, retail, office and factory. In the case of Hong Kong (from January 1993 to December 2008), the Dynamic Conditional Correlation Multivariate Stochastic...