Rose Lai Neng, a professor of finance and the associate dean (research and development) of the Faculty of Business Administration, University of Macau (UM), recently received the 2017 Edwin S Mills Real Estate Economics Best Paper Award, for her paper titled ‘US House Prices over the Last 30 Years: Bubbles, Regime Shifts and Market (In) Efficiency’, which was co-authored with Prof Robert Van Order from George Washington University.

This award is presented each year to the author of the best article among the 30 top-tier academic articles published in the four issues of the Real Estate Economics, the most authoritative journal in the field of real estate finance and economics, with an acceptance rate of less than 15 per cent. The journal was first published in 1973 by the American Real Estate and Urban Economics Association, a leading academic association in the field.