The Endowment Effect and Housing Markets: Theory and Evidence from Poland (Routledge Studies in International Real Estate)

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Synopsis
This book aims to provide a comprehensive analysis of the so-called “endowment effect” in the housing market. In a nutshell, the phenomenon of overvaluing things we own which was first conceptualised in 1980 and has since been one of the most studied behavioural biases in economics.The first chapter presents a systematic review of the literature on the endowment effect in the housing market, together with the identification of research gaps to be filled by other researchers. The second chapter aims to propose a theoretical model explaining the strength of the endowment effect in sales and rental housing markets by primary and secondary markets. The last chapter presents the results of empirical research on the endowment effect in the Polish housing market, testing the model presented in Chapter 2. The chapters can be read together or independently by researchers, students, and policymakers interested in behavioural economics in housing and real estate. For policymakers, the book can be extremely useful as the endowment effect can create friction in the housing market because of a mismatch between the price demands of sellers and buyers, especially in countries where the level of market professionalisation is low (such as Poland). Thanks to the empirical research contained in this book, it will be possible to identify specific market segments where the endowment effect may be particularly elevated – on such segments, policymakers should introduce actions contributing to the elimination of this behavioural bias.
Copyright:
2025

Book Details

Book Quality:
Publisher Quality
ISBN-13:
9781040156414
Related ISBNs:
9781040156391, 9781003512004, 9781032833385
Publisher:
CRC Press
Date of Addition:
Copyrighted By:
Mateusz Tomal. The right of Mateusz Tomal to be identified as author of this work has been asserted in accordance with sections
Adult content:
No
Language:
English
Has Image Descriptions:
No
Categories:
Nonfiction, Art and Architecture, Business and Finance, Technology, Politics and Government, Sociology
Submitted By:
Bookshare Staff
Usage Restrictions:
This is a copyrighted book.

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