| The Role of Buy-Side Anchoring Bias: Evidence from the Real Estate Market | |
|---|---|
| 學年 | 104 |
| 學期 | 1 |
| 發表日期 | 2015-10-15 |
| 作品名稱 | The Role of Buy-Side Anchoring Bias: Evidence from the Real Estate Market |
| 作品名稱（其他語言） | |
| 著者 | C.C. Chang; J.H. Yeh |
| 作品所屬單位 | |
| 出版者 | |
| 會議名稱 | 2015 Financial Management Association (FMA) |
| 會議地點 | Orlando, U.S.A. |
| 摘要 | We examine anchoring bias within the real estate market by evaluating evidence and a priori arguments on the effects of investor sentiment on willingness-to-pay among homebuyers. Based upon a unique dataset which provides the complete histories of transactions in the real estate market, we investigate whether market participants can see through the bias. Our findings reveal that the anchoring phenomenon prevails regardless of homebuyer's gender. Homebuyers faced with higher systemic uncertainty and out-of-state housing transactions exhibit higher levels of anchoring; the heuristic thinking biased on investors' willingness-to-pay gives rise to the deviations from reasonable housing values. |
| 關鍵字 | Real estate markets;Anchoring bias;Willingness to pay |
| 語言 | en |
| 收錄於 | |
| 會議性質 | 國際 |
| 校內研討會地點 | 無 |
| 研討會時間 | 20151015~20151017 |
| 通訊作者 | |
| 國別 | USA |
| 公開徵稿 | |
| 出版型式 | |
| 出處 | |
| 相關連結 |
機構典藏連結 ( http://tkuir.lib.tku.edu.tw:8080/dspace/handle/987654321/119659 ) |
| SDGS | 優質教育,尊嚴就業與經濟發展,減少不平等 |
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