The book "Asset Pricing, Frontier of Real Estate Finance" explores how finance can help us understand real estate risk and value. It has 11 chapters covering topics like predicting returns on real estate investments and the impact of real estate on institutional investors. The researchers found that expected excess returns for equity real estate investment trusts (EREITs) are more predictable than for other securities. They also discovered that investors can use market timing strategies to outperform a buy-and-hold strategy. Additionally, they showed that Japanese real estate and equity markets behave differently from U.S. markets. Lastly, they found that return reversals in real estate securities can be exploited by traders if trading costs are ignored.