2020
DOI: 10.3390/su12031220
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Detecting Possible Reduction of the Housing Bubble in Korea for Different Residential Types and Regions

Abstract: The objective of this paper is to detect the arbitrage opportunity and to manage the bubbles in the Korean real estate market based on a binomial American option pricing model with heteroscedasticity. The limitation of previous research where the real options framework was first introduced is its macro-economic implication based on the utilization of the general housing indices. Therefore, in this paper, we extensively apply the model to different residential types and regions. The results suggest that the mod… Show more

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