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Published in:
2015 | OriginalPaper | Chapter
23. Real Options
Joint Work with Sam Teper, Maurice Law, and Aaron Sandock
Author : Jaime Luque
Published in: Urban Land Economics
Publisher: Springer International Publishing
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Abstract
The research study conducted by Christopher R. Cunningham (2006) titled “House Price Uncertainty, Timing of Development, and Vacant Land Prices: Evidence for Real Options in Seattle”, seeks to explain value created by real estate options and how those affect both timing of development as well as vacant land prices. In his work, Cunningham (2006) aimed to seek out the effect of these options on the factors listed above. Through his findings, Cunningham (2006) concluded that the uncertainty of house-prices leads to a delay in development construction, as well as an increase in vacant land prices.