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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

Behaviorally Informed Home Mortgage Credit Regulation

Michael Barr, Sendhil Mullainathan, Eldar Shafir • April 1, 2008

UCC08-12: Choosing a mortgage is one of the biggest financial decisions an American consumer will make. Yet it can be a complicated one, especially in today’s…