Property Value at Risk
Lecturer
Dr. Kanak Patel is a Fellow and Director of Studies in Economics at Magdalene College, and Lecturer in Property Finance, University of Cambridge. She spent time as Market Analyst at Lloyds of London and has taught on MPhil, MBA and Senior Executive courses in corporate & real estate finance, international finance, real options, credit risk, portfolio management & institutional asset allocation. Dr Patel lectures abroad and travels regularly to speak at international conferences. Her current research and consulting interests include property derivatives and credit derivatives, real estate cycles, modelling default risk, pricing mortgage contracts, and securitisation.
Dr Patel was elected President of the Asian Real Estate Society (2003-2004) and President-Elect (2002-2003) and she is the co-founder of Cambridge-Maastricht Symposium and Cambridge-UNC Charlotte Symposium on Real Estate Risk Management. Since 2001 she has been a Co-Editor of the Special Issues, Journal of Real Estate Finance & Economics.
Dean Paxson is Professor of Finance at the Manchester Business School where he teaches international corporate finance, banking and financial markets. Educated at Amherst (B.A.), Oxford (M.A.), and Harvard Business School (D.B.A.), he has been teaching derivative securities and real property options for several years. Current practical (and research) activities include "property value at risk" measurements for insurance companies and renovation timing in hotels, financial theory, futures, financial options and real options.
Dr. Paxson has published several books including The Blackwell Encyclopaedic Dictionary of Finance, Blackwell Publishers (1997), Real Options: Evaluating Corporate Investment Opportunities in a Dynamic World, Financial Times Prentice Hall (2001), Real R&D Options, Butterworth-Heinemann (2003), and Real Value, Forthcoming (2007). Other publications include articles on options and real property options, real stochastic volatility, real options and capital adequacy modelling.
