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

Author

Listed:
  • Peijun Guo

    (Yokohama National University)

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.

Suggested Citation

  • Peijun Guo, 2010. "Private Real Estate Investment Analysis within a One-Shot Decision Framework," International Real Estate Review, Global Social Science Institute, vol. 13(3), pages 238-260.
    • Handle: RePEc:ire:issued:v:13:n:03:2010:p:238-260
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    Citations

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    Cited by:

    1. Guo, Peijun & Ma, Xiuyan, 2014. "Newsvendor models for innovative products with one-shot decision theory," European Journal of Operational Research, Elsevier, vol. 239(2), pages 523-536.
    2. Guo, Peijun, 2019. "Focus theory of choice and its application to resolving the St. Petersburg, Allais, and Ellsberg paradoxes and other anomalies," European Journal of Operational Research, Elsevier, vol. 276(3), pages 1034-1043.
    3. Xiuyan Ma, 2019. "Pricing to the Scenario: Price-Setting Newsvendor Models for Innovative Products," Mathematics, MDPI, vol. 7(9), pages 1-15, September.
    4. Guo, Peijun & Li, Yonggang, 2014. "Approaches to multistage one-shot decision making," European Journal of Operational Research, Elsevier, vol. 236(2), pages 612-623.

    More about this item

    Keywords

    Private real estate investment; Possibility theory; One-shot decision; Focus points;
    All these keywords.

    JEL classification:

    • L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services

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