A PhD student from the University of Macau (UM) Faculty of Business Administration received a first prize of the Best Paper Award at the 2016 annual conference of the Global Chinese Real Estate Congress (GCREC) held in Hangzhou. Xu Ruihui’s paper, titled ‘Decisions of Real Estate Developers under Uncertainty and Heterogeneous Beliefs’, stood out from nearly 400 papers presented at the conference and received a first prize of the Best Paper Award. Xu’s supervisor is Prof Rose Lai, associate dean for research and development of the FBA. Co-organised by the GCREC and Zhejiang University of Technology, the conference attracted over 800 experts and scholars from around the world. The Nobel laureate in economics, Robert Merton, was one of the keynote speakers at the conference.
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