The Impact of Availability Heuristic, Regret Aversion, Self-control, and Certainty and Disposition Effects on the Ethical Intentions of Real Estate Agents

Chun-Chang Lee (), Hsin-Yu Hsieh (), Wen-Chih Yeh () and Pei-Syuan Lin ()
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Chun-Chang Lee: National Pingtung University
Hsin-Yu Hsieh: National Pingtung University
Wen-Chih Yeh: HungKuo Delin University of Technology
Pei-Syuan Lin: Chinese Culture University

International Real Estate Review, 2025, vol. 29, issue 2, 207-233

Abstract: This study primarily adopts a behavioral economics approach to investigate how the availability heuristic, regret aversion, self-control, and the certainty and disposition effects impact the ethical intentions of real estate agents. A statistical analysis is performed with structural equation modeling. The participants are real estate agents in Kaohsiung City, Taiwan. Of the 1000 questionnaires administered from May 13 to June 10, 2023, 668 were returned. After removing 27 invalid responses, the effective recovery rate is 64.1%. The empirical results show that regret aversion positively impacts the disposition effect, self-control negatively impacts the disposition effect, the certainty effect positively impacts the disposition effect, and the disposition effect negatively impacts ethical intentions. Therefore, regret aversion, self-control, and the certainty effect indirectly impact the ethical intentions of real estate agents through the disposition effect.

Keywords: Ethical intentions; Availability heuristic; Disposition effect; Regret aversion; Self-control; Certainty effect (search for similar items in EconPapers)
Date: 2025
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