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Working Papers

Option Value and Storefront Vacancy in New York City

Erica Moszkowski, Daniel Stackman • April 12, 2023

Why do storefronts remain empty for more than a year in some of the world’s highest-rent retail districts? Landlords with vacancies derive option value from two sources of…
Working Papers

Good Home Improvers Make Good Neighbors

Kevin Park • April 1, 2008

W08-2: Research on the determinants of home improvement activity generally ignores the neighborhood context in which homeowners live. However the condition and trends of…