Link to Paper

This subsection links to a study that applies financial option pricing theory to real estate investments:

1. “Option Pricing Models Applied to Asset, Mortgage and Equity Investments”
   by Joseph L. Pagliari Jr. and Anthony B. Sanders (2025, draft). This paper presents an integrated framework for applying option pricing theory to real estate, extending its use beyond mortgages to analyze the interaction between asset, debt, and equity valuation.

   Note: This study is currently in draft form and undergoing updates; the attached version reflects an earlier working paper that is in the process of being revised.