Anchoring on the listing round-number focal points: evidence from China’s housing market

Hongfei Li

Applied Economics Letters, 2024, vol. 31, issue 14, 1327-1331

Abstract: Round-number focal points are important to determine the outcome of negotiations, and the anchoring effect may matter disproportionately whether a listing price reached a round-number threshold. By applying regression discontinuity design method, we find that listing prices under a round-number focal point sell less than the houses list above the threshold. The effect is more pronounced in houses with greater uncertainty.

Date: 2024
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DOI: 10.1080/13504851.2023.2186349

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