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This book takes a behavioural approach to examine six important housing questions: tenure decision, gentrification, place attachment, housing bubbles, housing wealth, and residential satisfaction. Using experimental and field data, the book demonstrates the effects of six behavioural biases and heuristics (i.e., anchoring and reference dependence, loss aversion, mental accounting, endowment effect, herd behaviours, and social comparison) on these housing decisions. The first part of the book introduces the questions and provides a behavioural science toolbox before the second part adopts a real-world case study approach. Real data sets and suggested answers are provided, and the cases come from the UK, USA, and China. Background information is given in each case to facilitate the understanding of the case data and question, as well as the discussions on the results. This book is ideal supplementary reading on a variety of courses such as housing studies, economics, real estate, research methods, and for students and academics who are interested in the application of behavioural science in housing decisions.
This book takes a behavioural approach to examine six important housing questions: tenure decision, gentrification, place attachment, housing bubbles, housing wealth, and residential satisfaction. Using experimental and field data, the book demonstrates the effects of six behavioural biases and heuristics (i.e., anchoring and reference dependence, loss aversion, mental accounting, endowment effect, herd behaviours, and social comparison) on these housing decisions. The first part of the book introduces the questions and provides a behavioural science toolbox before the second part adopts a real-world case study approach. Real data sets and suggested answers are provided, and the cases come from the UK, USA, and China. Background information is given in each case to facilitate the understanding of the case data and question, as well as the discussions on the results. This book is ideal supplementary reading on a variety of courses such as housing studies, economics, real estate, research methods, and for students and academics who are interested in the application of behavioural science in housing decisions.
This book aims to provide a comprehensive analysis of the so-called “endowment effect” in the housing market. In a nutshell, the phenomenon of overvaluing things we own which was first conceptualised in 1980 and has since been one of the most studied behavioural biases in economics. The first chapter presents a systematic review of the literature on the endowment effect in the housing market, together with the identification of research gaps to be filled by other researchers. The second chapter aims to propose a theoretical model explaining the strength of the endowment effect in sales and rental housing markets by primary and secondary markets. The last chapter presents the results of empirical research on the endowment effect in the Polish housing market, testing the model presented in Chapter 2. The chapters can be read together or independently by researchers, students, and policymakers interested in behavioural economics in housing and real estate. For policymakers, the book can be extremely useful as the endowment effect can create friction in the housing market because of a mismatch between the price demands of sellers and buyers, especially in countries where the level of market professionalisation is low (such as Poland). Thanks to the empirical research contained in this book, it will be possible to identify specific market segments where the endowment effect may be particularly elevated – on such segments, policymakers should introduce actions contributing to the elimination of this behavioural bias.
- Foreword - Executive summary - Introduction - The dynamics of moral decision making - Integrity in the context of social interactions - Applying behavioural insights to integrity policies - References
Sustainable Real Estate in the Developing World offers a perfect and ideal synthesis of works that examine sustainability within various facets of real estate and urban development in the developing world. A must-read for academics, researchers, policy-makers and students in all the built environment disciplines.
First published in 1973, this two-volume set summarises and structures the contributions by researchers at the Fourth International EDRA Conference, held in April 1973. The first volume focuses on the proceedings of the paper sessions. It summarises and criticises 43 selected paper submissions which communicate contemporary research findings. It also reviews the discussions between authors, panellists and the session participants. This book will be of interest to students of architecture and design.
First published in 1973, this two-volume set summarises and structures the contributions by researchers at the Fourth International EDRA Conference, held in April 1973. The first volume focuses on the proceedings of the paper sessions. The second volume focuses on the symposia, invited papers and the workshops. This set will be of interest to students of architecture and design.
This eleventh volume in the series departs from the pattern of earlier volumes. Some of those volumes addressed research, design, and policy topics in terms of environmental settings, for example, homes, communities, neighborhoods, and public places. Others focused on environmental users, for example, chil dren and the elderly. The present volume examines the field of environment and behavior studies itself in the form of intellectual histories of some of its most productive and still visible senior participants. In so doing we hope to provide readers with a grand sweep of the field-its research and design content, methodology, institutions, and past and future trajectories-through the experiences and intellectual histories of its participants. Why intellectual histories? Several factors led to the decision to launch this project. For one, 1989 was an anniversary and commemorative year for the Environmental Design Research Association, perhaps the major and most long-standing interdisciplinary organization of environment and behavior re searchers and practitioners. Established in 1969, this organization has been the vehicle for generations of researchers and practitioners from many disciplines to come together annually to exchange ideas, present papers, and develop professional and personal relationships. It held its first and twentieth meetings in North Carolina, with the twentieth conference substantially devoted to dis cussions of the past, present, and future of the field-a taking stock, so to speak. Thus it seemed appropriate to launch a volume on intellectual histories at this significant juncture in the life of the field.