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Private Real Estate Investment Analysis within a One-Shot Decision Framework

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Author Info

  • Peijun Guo

    ()
    (Yokohama National University)

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    Abstract

    Land development is a typical one-shot decision for private investors due to the huge investment expense and the fear of substantial loss. In this paper, a private real estate investment problem is analyzed within a one-shot decision framework, which is used for a situation where a decision is made only once. The one-shot decision framework involves two steps. The first is to identify which state of nature should be focused for each alternative. The second is to evaluate alternatives by using the focused states of nature. In a one-shot decision framework, the behavior of different types of private investors, such as normal, active, passive and more easily satisfied ones, are examined. The analysis provides insights into personal real estate investment and important policy implications in the regulation of urban land development.

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    File URL: http://www.umac.mo/fba/irer/papers/current/vol13n3_pdf/1-100101%20Real%20Estate%20Investment%20%28Guo%29.pdf
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    Bibliographic Info

    Article provided by Asian Real Estate Society in its journal International Real Estate Review.

    Volume (Year): 13 (2010)
    Issue (Month): 3 ()
    Pages: 238-260

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    Handle: RePEc:ire:issued:v:13:n:03:2010:p:238-260

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    Postal: Asia Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
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    Web page: http://www.asres.org/

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    Postal: Asian Real Estate Society, 51 Monroe Street, Plaza E-6, Rockville, MD 20850, USA
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    Web: http://www.asres.org/

    Related research

    Keywords: Private real estate investment; Possibility theory; One-shot decision; Focus points;

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    Cited by:
    1. Guo, Peijun & Li, Yonggang, 2014. "Approaches to multistage one-shot decision making," European Journal of Operational Research, Elsevier, vol. 236(2), pages 612-623.

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