Conventional wisdom suggests that non-local buyers usually pay a premium for home purchases. While the standard contract theory predicts that non-local buyers may pay such a price premium because of the higher cost of gathering information, behavioral economists argue that the premium is due to...

The age-period-cohort problem has been studied for decades but without resolution. There have been many suggested solutions to make the three effects estimable, but these solutions mostly exploit non-linear specifications. Yet, these approaches may suffer from misspecification or omitted...

Purpose – Achieving a balanced tenant mix is a long-standing discourse in the retailing and consumer marketing literature. This paper applies the Island Species-Area-Energy (ISAER) model from biogeography to theorise tenant mix equilibrium. A five-factor tenant mix model is developed....

By reviewing the previous three asset bubble implosions, viz. (1) the “Lost Decade” of Japan in the 1980s; (2) the Asian Financial Crisis in Hong Kong in 1997; and (3) the Financial Tsunami in the USA in 2008, a common symptom of negative real interest rate is very clearly revealed before the...

Income segregation is found to be a common phenomenon, which imposes far-reaching implications on housing and social policies. However, the focus has long been on its extent rather than on its distribution. This study investigates the asymmetric relationship between household income and income...

The purpose of this paper is to develop a novel tenant mix model for shopping malls from an analogy of ecological theories. This study empirically investigated the tenant species-area relationship and tenant species-abundance distribution in shopping malls. By a sample of 25 shopping malls are...