The Optimal Time of Renovating a Mall

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K.C. Wong; George Norman;
  • Journal: Journal of Real Estate Research, volume 9, issue 1, pages 33-48
  • Subject:
    • jel: jel:L85

This paper presents a maximization model determining the optimal time at which a mall should be renovated. The analysis is constructed on the assumption of a decreasing rental income over time as a mall ages. It is then shown that the optimal renovation period achieves ... View more
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