Economics at your fingertips  

Capturing Heterogeneity in Preference for a Real-Estate Offering Using Hierarchical Bayesian Regression Model

Kanupriya Katyal () and Jagrook Dawra
Additional contact information
Kanupriya Katyal: Goa Institute of Management
Jagrook Dawra: Indian Institute of Management

Journal of Real Estate Research, 2016, vol. 38, issue 2, 291-320

Abstract: Consumers have dissimilar preferences. Real estate researchers have acknowledged that needs and wants differ among consumers. Creation of different real estate offerings with different attributes and the creation of various communication messages are consequences of this heterogeneity. Our study helps both the real estate developer and the real estate marketer (or broker). This paper captures consumer heterogeneity using the Hierarchical Bayesian regression model. Our model explains how Bayesian regression can be used to study both observed and unobserved consumer heterogeneity in preference. We also examine heterogeneity at the individual level. We study the elite Indian real estate consumers’ preferences for features internal to an apartment as well as external to it.

JEL-codes: L85 (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations Track citations by RSS feed

Downloads: (external link) Full text (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link:

Ordering information: This journal article can be ordered from
Diane Quarles American Real Estate Society Manager of Member Services Clemson University Box 341323 Clemson, SC 29634-1323

Access Statistics for this article

Journal of Real Estate Research is currently edited by Dr. Ko Wang

More articles in Journal of Real Estate Research from American Real Estate Society American Real Estate Society Clemson University School of Business & Behavioral Science Department of Finance 401 Sirrine Hall Clemson, SC 29634-1323.
Series data maintained by JRER Graduate Assistant/Webmaster ().

Page updated 2017-09-29
Handle: RePEc:jre:issued:v:38:n:2:2016:p:291-320