This paper reviews the literature on price determination in the private and public real estate
markets. In particular, it discusses the processes of appraisal smoothing in the private …

The decision of buying residential property may be one of the most important transactions
people will ever make, and the emotional attachment when houses become homes is …

Discover an insightful examination of the property investment appraisal process from
leaders in the industry This book explains the process of property investment appraisal: the …

Liquidity in private asset markets is notoriously variable over time. Therefore, indices of
changes in market value that are based on asset transaction prices will systematically reflect …

This study examines the sensitivity of equity real estate investment trust (REIT) returns to
returns on other asset classes, including real estate, using an estimation method that …

This paper provides an international comparison of the benefits of including real estate
assets in mixed-asset portfolios. Real estate returns are desmoothed using a variant of the …

This article addresses the micro‐analytic foundations of illiquidity and price dynamics in the
real estate market by integrating modern portfolio theory with models describing the real …

Valuation judgement bias has been a research topic for several years due to its proclaimed
effect on valuation accuracy. However, little is known on the emphasis of literature on …

This paper develops a methodology to identify asset price response to news in the
framework of the Campbell–Shiller log‐linear present‐value equation. We further show that …

Purpose–The purpose of this paper is to systematically consolidate and analyze papers in
behavioral finance in the past 20 years, and to provide an overall introduction to scholars …