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Published in:
1983 | OriginalPaper | Chapter
Methods of Incorporating Risk in the Analysis of Commercial Property Investment: Multi-Period Asset Pricing Approach
Author : C. W. R. Ward
Published in: Modern Portfolio Theory and Financial Institutions
Publisher: Palgrave Macmillan UK
Included in: Professional Book Archive
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The analysis of investment in commercial property has tended to follow the models and controversies of the more general financial literature. The lag between the publication of the financial models and their application to property investment has, as Jaffe (1977) argues, been in the order of five to ten years and the present application of modern portfolio theory is consistent with this experience.