The Endowment Effect and Housing Markets Theory and Evidence from Poland

The Endowment Effect and Housing Markets Theory and Evidence from Poland

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 chapte......
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<p>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.</p><p>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 b
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Beskrivelse
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 as a result 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.

Produktinformasjon

Utforsk "The Endowment Effect and Housing Markets" - En Dypdykk i Polens Eiendomsmarked

Er du nysgjerrig på hvordan mentalitetene våre påvirker eiendomshandler? The Endowment Effect and Housing Markets: Theory and Evidence from Poland gir deg en omfattende analyse av det såkalte "endowment effect" i boligmarkedet. Dette unike fenomenet beskriver hvordan vi ofte overvurderer verdien av ting vi eier. Finn ut hvordan dette påvirker kjøpere og selgere i Polen, og hvordan det kan skape friksjoner i markedet.

Hva Du Kan Forvente av Boken

  • Systematisk gjennomgang: Første kapittel tar for seg eksisterende litteratur om endowment effect, og kartlegger forskningshull som venter på løsning.
  • Teoretisk modell: I kapittel to presenteres en teori som forklarer styrken av endowment effect både i salgs- og utleiemarkedet.
  • Empirisk forskning: Avsluttende kapittel inneholder resultater fra omfattende studier av polske boligmarkeder, som tester den teoretiske modellen.

Hvorfor Velge Denne Boken?

Enten du er forsker, student eller politiker, er denne boken en uunnværlig ressurs. For politikere kan innsiktene bidra til å tilpasse strategier som håndterer priskonflikter mellom kjøpere og selgere, noe som er spesielt relevant i markeder med lav profesjonalisering, som i Polen. Boken peker også på bestemte markedssegmenter hvor endowment effect kan være ekstra fremtredende, og foreslår tiltak for å adressere denne atferdsforstyrrelsen.

Ta Steget Inn i Behavioral Economics

Med The Endowment Effect and Housing Markets får du ikke bare en grundig teori, men også praktiske eksempler fra virkeligheten. Boka er et perfekt verktøy for å navigere i utfordringer i boligmarkedet. Enten du er interessert i behaviourisme eller eiendomshandel, er denne boken et must-read!

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