Pricing models

Research output: Chapter in Book/Report/Conference proceedingChapter

Abstract

Pricing models try to explain how assets are priced in market equilibrium. Such models are based on theoretical reasoning and empirically observed regularities. This chapter uses a general pricing framework to motivate different pricing models that are used in practice. The presentation focusses in particular on the different variants of single- and multi-factor models. Emphasis is placed on the economic intuition of the models and their usefulness for empirical applications. With respect to applications, the chapter gives a detailed discussion of studies that have used such models to understand and compare the return rates of REITs, direct real estate, and other financial securities.
Original languageEnglish
Title of host publicationRoutledge Companion to Real Estate Investment
EditorsBryan D. MacGregor, Rainer Schulz, Richard K. Green
Place of PublicationLondon and New York
PublisherRoutledge
Chapter11
Pages215-231
Number of pages17
ISBN (Print)9781138020788
Publication statusPublished - 27 Nov 2018

Fingerprint

Multifactor model
Financial security
Factors
Economics
Intuition
Market equilibrium
Real estate investment trusts
Regularity
Assets
Real estate
Rate of return
Usefulness
Pricing

Cite this

MacGregor, B. D., Schulz, R., & Zhao, Y. Y. (2018). Pricing models. In B. D. MacGregor, R. Schulz, & R. K. Green (Eds.), Routledge Companion to Real Estate Investment (pp. 215-231). London and New York: Routledge.

Pricing models. / MacGregor, Bryan D.; Schulz, Rainer; Zhao, Yuan Yuan.

Routledge Companion to Real Estate Investment. ed. / Bryan D. MacGregor; Rainer Schulz; Richard K. Green. London and New York : Routledge, 2018. p. 215-231.

Research output: Chapter in Book/Report/Conference proceedingChapter

MacGregor, BD, Schulz, R & Zhao, YY 2018, Pricing models. in BD MacGregor, R Schulz & RK Green (eds), Routledge Companion to Real Estate Investment. Routledge, London and New York, pp. 215-231.
MacGregor BD, Schulz R, Zhao YY. Pricing models. In MacGregor BD, Schulz R, Green RK, editors, Routledge Companion to Real Estate Investment. London and New York: Routledge. 2018. p. 215-231
MacGregor, Bryan D. ; Schulz, Rainer ; Zhao, Yuan Yuan. / Pricing models. Routledge Companion to Real Estate Investment. editor / Bryan D. MacGregor ; Rainer Schulz ; Richard K. Green. London and New York : Routledge, 2018. pp. 215-231
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