Dual process of dual motives in real estate market Indonesia

Anastasia Njo, Narsa I. Made and Andry Irwanto

International Journal of Housing Markets and Analysis, 2018, vol. 12, issue 1, 25-42

Abstract: Purpose - The dual process of thinking between conscious processes and unconscious processes generate a different decision. Thinking consciously produces rational decisions. However, a person’s cognitive limitation makes him or her simplify complex scenarios and think implicitly result in making decision in heuristics or rules of thumbs. This paper aims to evaluate patterns of decision-making relationships and dual motives for home purchasing by first home buyers and family life cycle in Indonesia. Design/methodology/approach - Collecting data was done by distributing questionnaires to home buyers within three years (2013-2016). Further data were processed using ANOVA based on group of dual motives, time for buyer and family life cycle. Findings - The results show that buyers have consumption motives in buying a residence and they behave rational, while investors prefer to buy an apartment and tend to behave heuristics. Dual motives of time for buyers are not significant to decision model. Family life cycle is significant to decision model based on dual motives. Originality/value - This is an unpublished dissertation study to qualify for graduation.

Keywords: Heuristics; Rational; Dual motives; Dual process; Family life cycle; Time for buyer (search for similar items in EconPapers)
Date: 2018
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Persistent link: https://EconPapers.repec.org/RePEc:eme:ijhmap:ijhma-05-2017-0049

DOI: 10.1108/IJHMA-05-2017-0049

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