A Study on Real Estate Purchase Decisions

Jing-Yi Chen and Ming-Hui Wang ()
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Jing-Yi Chen: Department of Insurance and Finance, National Taichung University of Science and Technology, Taichung 404336, Taiwan
Ming-Hui Wang: Department of Business Administration, National Taipei University of Business, Taipei 100025, Taiwan

Sustainability, 2023, vol. 15, issue 6, 1-21

Abstract: This study examines the influence of joint information framing and personality traits on housing purchase decisions, specifically in the context of the COVID-19 pandemic. Using a between-subjects experimental design, we found that negative framing has a stronger impact on purchase decisions for optimistic participants compared with pessimistic ones. Additionally, high-price anchoring has a greater negative effect on purchase intention for pessimists, while low-price anchoring has a stronger positive effect for optimists. Furthermore, our findings suggest that the low-price real estate market has been less severely impacted by the pandemic than the high-price market. The real estate market seeks to minimize information asymmetry to achieve sustainable and healthy development. These results contribute to creating inclusive, safe, and sustainable cities.

Keywords: COVID-19; joint information framing; framing effect; anchoring effect; sustainable development (search for similar items in EconPapers)
JEL-codes: O13 Q Q0 Q2 Q3 Q5 Q56 (search for similar items in EconPapers)
Date: 2023
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