Market segmentation is a standard concept in both strategic marketing and investment analysis. The standard approach in the real estate market context is to segment markets by regions and property types. While this approach provides investment analysts with a powerful basic classification grid,...

If in equity markets style analysis has been studied extensively, in real estate ones it is only now emerging as a valuable tool for measuring and benchmarking performance and risk. So far studies in the property market have identified three investment categories (rather than styles): sectors...

While style analysis has been studied extensively in equity markets, applications of this valuable tool for measuring and benchmarking performance and risk in a real estate context are still relatively new. Most previous real estate studies on this topic have identified three investment...

Investments in direct real estate are inherently difficult to segment compared to other asset classes due to the complex and heterogeneous nature of the asset. The most common segmentation in real estate investment analysis relies on property sector and geographical region. In this paper, we...

In an asset allocation process, correlations are particularly important if one includes 'alternative investments' such as real estate, commodities and hedge funds, which have been proclaimed to provide diversifying benefits within the overall portfolio context. However, by looking at...

In turmoil periods, market liquidity can experience sudden dry ups connected with significant price movements. This unexpected change in liquidity patterns, often driven by irrational investorsí behavior, is normally defined as Liquidity Black Hole (LBH). So far relevant research in this area...

Rock cliff monitoring to evaluate related rockfall hazard requires a deep knowledge of the geometry and kinematics of the rock mass and a real-time survey of some key features. If a sedimentary rock system has sloping discontinuity planes, an open joint could become a potential sliding surface...

This paper contributes to a novel and fast growing literature which introduces game theory in the analysis of real options investments in competitive settings. Specifically, in this paper we focus on the issue of multiple equilibria and on the implications that different equilibrium selections...

The application of real options theory to commercial real estate has developed rapidly during the last 15 Years. In particular, several pricing models have been applied to value real options embedded in development projects. In this study we use a case study of a mixed-use development scheme and...

Several papers address the issue of price discovery in real estate markets and propose different models to analyse the information content included in vehicle-based indices. Moreover, the finance literature has recently developed the understanding of the impact of illiquidity costs on the...