The CREF Working Papers series contains research undertaken by the Center’s affiliated faculty in the fields of real estate, finance, and the build environment. The purpose of the series is to disseminate the research results as widely as possible and to encourage intellectual exchange. Please note that the work is preliminary in nature; we encourage readers to comment and debate the papers with the authors. Once work has been published in a journal or other publication, it will be removed from this page.

For submission guidelines or questions regarding the CREF Working Paper series, please send an e-mail to cref@cornell.edu.

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