Funds of funds (FOFs) are created when investment companies invest in other investment companies. Although the additional layer of fees incurred by FOFs has a negative effect on returns, there is empirical evidence that real estate FOFs generate superior performance net of fees and risk...

The relation between real estate investment trust (REIT) returns and stock market returns is of significant importance to investors, practitioners and academics. The temporal properties of this relationship have a critical impact on the usefulness of REIT risk estimates and portfolio allocations...

This paper introduces the use of non-sample, prior information to the problem of predicting prices of heterogeneous products. Using data from the 1983 American Housing Survey, the predictive performance of three Stein-like empirical Bayes estimation rules are compared to the least squares...

The vast majority of market valuations employ either some formal estimator such as ordinary least squares (OLS) or rely upon an informal set of rules defining the grid adjustment estimator. The success of the grid adjustment estimator suggests the data do not obey the ideal assumptions...