Loss Aversion and Housing Studies

Helen X.H. Bao and Charlotte Chunming Meng

Journal of Real Estate Literature, 2017, vol. 25, issue 1, 49-75

Abstract: Loss aversion, similar to behavioral sciences in general, has found applications in a wide range of research areas; however, evidence in housing studies remains scarce. We provide a review of the loss aversion literature to aid future research in this direction by conducting a survey of both business and economics papers and real estate publications. We discuss practical issues pertaining to research methodology and its empirical applications in housing markets. We recommend that further studies adopt robust measurement of both reference points and loss aversion, and collect empirical evidence on a broad range of topics. We provide a helpful guideline for empirical investigations on the role of loss aversion in housing studies.

Date: 2017
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DOI: 10.1080/10835547.2017.12090454

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