Scopus Publication Detail
The publication detail shows the title, authors (with indicators showing other profiled authors), information on the publishing organization, abstract and a link to the article in Scopus. This abstract is what is used to create the fingerprint of the publication.
The Role of Uncertainty in Investment: An Examination of Competing Investment Models Using Commercial Real Estate Data
A. Steven Holland; Steven H. Ott; Timothy J. Riddiough(Profiled Author: Alan Steven Holland)
Real Estate Economics. 2000;28(1):33-64.Abstract
Neoclassical investment decision criteria suggest that only the systematic component of total risk affects the rate of investment, as channeled through the built-asset price. Alternatively, option-based investment models suggest a direct role for total uncertainty in investment decisionmaking. To sort out uncertainty's role in investment, we specify and empirically estimate a structural model of asset-market equilibrium. Commercial real estate time-series data with two distinct measures of asset price and uncertainty are used to assess the competing investment models. Empirical results generally favor predictions of the option-based model and hence suggest that irreversibility and delay are important considerations to investors. Our findings also have implications for macroeconomic policy and for forecasts of cyclical investment activity.
This section shows information related to the publication - computed using the fingerprint of the publication - including related publications, related experts with fingerprints representing significant amounts of overlap between their fingerprint and this publication. The red dots indicate whether those experts or terms appear within the publication, thereby showing potential and actual connections.
S. CharusheelaCambridge Journal of Economics. 2010;34(6):1145-1156.
Hana Ševčíkova; Adrian E. Raftery; Paul A. WaddellTransportation Research Part A: Policy and Practice. 2011;45(6):540-553.
Seik KimJournal of Human Capital. 2010;4(1):62-83.
Appears in this Document