Behavioural Real Estate

Diego A. Salzman and Remco Zwinkels ()
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Diego A. Salzman: London South Bank University, London, United Kingdom, and University of Amsterdam

Tinbergen Institute Discussion Papers from Tinbergen Institute

Abstract: The behavioural approach to decision making under uncertainty combines insights from psychology and sociology into economic decision making. It steps away from the normative homo economicus and introduces a positive approach to human decision making under uncertainty. We provide an overview of the main themes in the behavioural real estate literature from the perspective of different market participants. It can be concluded that there seems to be general agreement that behavioural studies can help explain the inefficiency of real estate markets, but a large component of behavioural decision making in the property markets seems to be undiscovered.

Keywords: real estate markets; market participants; behavioural decision making (search for similar items in EconPapers)
JEL-codes: G02 R31 R33 (search for similar items in EconPapers)
Date: 2013-07-16
New Economics Papers: this item is included in nep-cbe, nep-pke and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:tin:wpaper:20130088

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