NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

When Real Estate is the Only Game in Town

Hyun-Soo Choi, Harrison Hong, Jeffrey Kubik, Jeffrey P. Thompson

NBER Working Paper No. 19798
Issued in January 2014

---- Acknowledgements -----

Choi acknowledges support from the Sim Kee Boon Institute, Singapore Management University. We thank Tim Loughran, Chris Mayer, Wenlan Qian, Jeremy Stein, and seminar participants at Dartmouth, Notre Dame, the CICF 2013 conference, and the NBER behavioural finance meeting for helpful comments. The analysis and conclusions set forth are those of the authors and do not indicate concurrence by other members of the research staff, the Board of Governors, or the National Bureau of Economic Research.

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