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Article: Supply adjustments to demand shocks in the commercial real estate market

TitleSupply adjustments to demand shocks in the commercial real estate market
Authors
Issue Date1999
PublisherBlackwell Publishing, Inc. The Journal's web site is located at http://www.blackwellpublishing.com/journals/REE
Citation
Real Estate Economics, 1999, v. 27 n. 2, p. 231-262 How to Cite?
AbstractThis paper contributes a theoretical investigation of real estate supply adjustments in the commercial real estate market. Simple theoretical linkages between the goods market (the demand side) and the space market (the supply side) are developed and then used to explain the optimal supply decisions of space producers. Propositions relating to how space production decisions are made under conditions of demand certainty, demand uncertainty and free entry are derived from optimization models. Under demand certainty, the adjustment of space supply is shown to be affected by whether an exogenous shock is perceived as mild or disastrous. Under demand uncertainty, construction based on pent-up demand is shown to be suboptimal.
Persistent Identifierhttp://hdl.handle.net/10722/85566
ISSN
2015 Impact Factor: 0.869
2015 SCImago Journal Rankings: 1.775
SSRN
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorLentz, GHen_HK
dc.contributor.authorTse, KSMen_HK
dc.date.accessioned2010-09-06T09:06:39Z-
dc.date.available2010-09-06T09:06:39Z-
dc.date.issued1999en_HK
dc.identifier.citationReal Estate Economics, 1999, v. 27 n. 2, p. 231-262en_HK
dc.identifier.issn1080-8620en_HK
dc.identifier.urihttp://hdl.handle.net/10722/85566-
dc.description.abstractThis paper contributes a theoretical investigation of real estate supply adjustments in the commercial real estate market. Simple theoretical linkages between the goods market (the demand side) and the space market (the supply side) are developed and then used to explain the optimal supply decisions of space producers. Propositions relating to how space production decisions are made under conditions of demand certainty, demand uncertainty and free entry are derived from optimization models. Under demand certainty, the adjustment of space supply is shown to be affected by whether an exogenous shock is perceived as mild or disastrous. Under demand uncertainty, construction based on pent-up demand is shown to be suboptimal.en_HK
dc.languageengen_HK
dc.publisherBlackwell Publishing, Inc. The Journal's web site is located at http://www.blackwellpublishing.com/journals/REEen_HK
dc.relation.ispartofReal Estate Economicsen_HK
dc.titleSupply adjustments to demand shocks in the commercial real estate marketen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=1080-8620&volume=27&issue=2&spage=231&epage=62&date=1999&atitle=Supply+Adjustments+to+Demand+Shocks+in+the+Commercial+Real+Estate+Marketen_HK
dc.identifier.emailTse, KSM: ktse@hku.hken_HK
dc.identifier.authorityTse, KSM=rp01101en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1111/1540-6229.00773-
dc.identifier.scopuseid_2-s2.0-0033409034en_HK
dc.identifier.hkuros50047en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-0033409034&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume27en_HK
dc.identifier.issue2en_HK
dc.identifier.spage231en_HK
dc.identifier.epage262en_HK
dc.identifier.isiWOS:000081101400003-
dc.publisher.placeUnited Statesen_HK
dc.identifier.ssrn171844-
dc.identifier.scopusauthoridLentz, GH=7003643972en_HK
dc.identifier.scopusauthoridTse, KSM=7103352647en_HK

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