In a globalized environment, where intense competitive pressures constitute the main features, Central and eastern Europe is emerging as a promising investment host region. Following the main lines of Vernon's Produce Life Cycle (PLC), Hirsch's International Trade and Investment Theory of the...

Multi-factor approaches to analysis of real estate returns have, since the pioneering work of Chan, Hendershott and Sanders (1990), emphasised a macro-variables approach in preference to the latent factor approach that formed the original basis of the arbitrage pricing theory. With increasing...

Volatility, or the variability of the underlying asset, is one of the key fundamental components of property derivative pricing and in the application of real option models in development analysis. There has been relatively little work on volatility in real terms of its application to property...

This paper revisits some ideas that were first raised seriously in the mid-90s; that it should be possible to establish linkages (in spatial terms) between local economic factors and sector performance in commercial real estate markets.  There have been a number of developments in the quality...

This study addresses the issue of housing privatization in Russia in the course of the 1990s. Privatization was started to create a housing market in order to efficiently allocate resources in the use and production of housing, and to phase out the state budget financing of housing. The...

Firm formation has been advocated by policy-makers and examined by researchers as a vehicle for job creation and economic development. Both industrial structures and the firm formation rates of individual industries vary regionally. For instance, Ashcroft et al (1991) showed that firm formation...

This paper aims to explain the rise and fall of communism by exploring the interplay between economic incentives and social preferences in different economic systems. We introduce inequality-averse and inefficiency-averse agents responding to economic incentives and transmitting their ideology...

We focus on the role of conformity with social norms and concern with relative income in the decision to supply unpaid care for parents. Individuals have different propensities to be influenced by both relative income and social norms, and face a time constraint on the provision of both paid...

The study uses a computational approach to study the phenomenon of housing privatization in Russia in the 1990s. As part of the housing reform flats in multi-family buildings were offered to their residents free of payment. Nevertheless rapid mass housing privatization did not take place. While...

We examine the impact of information regarding other people’s choices on individual choice in a public good experiment with two separate treatments. In the implicit treatment, subjects do not see the average contribution of others in their group, but they can calculate it from the information...