Agglomeration Risk in Retail Shopping Centers

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The present study is an attempt to quantify the agglomeration risk in retail shopping centers. We accept that consumers are attracted to a shopping center in proportion to the mass of the anchor tenant. Nonetheless we feel it important to allow this attraction to be stochastic with its time varying nature governed by a geometric Brownian motion. We then proceed to estimate the underlying stochastic correlation between the anchor and non-anchor tenants at a shopping center using a panel database of US regional and super-regional shopping centers. We conclude that retail agglomeration risks in retail shopping centers are significant, too significant to be ignored.
The Social Science Research Network(SSRN)
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agglomeration; risk; retail shopping centers


KAIST Business School Working Paper Series KBS-WP-2008-014

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KGSF-Journal Papers(저널논문)
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