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Article: Real estate education, professional training, and market bias : a behavioral study in Hong Kong

TitleReal estate education, professional training, and market bias : a behavioral study in Hong Kong
Authors
Issue Date2012
PublisherAmerican Real Estate Society. The Journal's web site is located at http://www.aresnet.org/ARES/pubs/jrepe/JREPE.html
Citation
Journal of Real Estate Practice and Education, 2012, v. 15 n. 2, p. 129-151 How to Cite?
AbstractThe real estate market has been known to suffer from inefficient information flow and uneven distribution of vital information. Carefully-crafted market/media reports can influence consumer sentiment and perception (i.e., the “framing effect”). Behavioral research in real estate has demonstrated that such framing effects can influence individuals' perceptions, which may consequently alter decisions made by housing consumers. In this paper, we find that framing effects influence university students and recent graduates with and without proper real estate academic knowledge. Academic real estate knowledge can be an important tool to fortify consumers against the bias created by the media. More practical knowledge and professional experience is needed in order for good judgments about future market performance to be made.
Persistent Identifierhttp://hdl.handle.net/10722/199218
ISSN
2015 SCImago Journal Rankings: 0.183

 

DC FieldValueLanguage
dc.contributor.authorLi, LHen_US
dc.date.accessioned2014-07-22T01:08:44Z-
dc.date.available2014-07-22T01:08:44Z-
dc.date.issued2012en_US
dc.identifier.citationJournal of Real Estate Practice and Education, 2012, v. 15 n. 2, p. 129-151en_US
dc.identifier.issn1521-4842en_US
dc.identifier.urihttp://hdl.handle.net/10722/199218-
dc.description.abstractThe real estate market has been known to suffer from inefficient information flow and uneven distribution of vital information. Carefully-crafted market/media reports can influence consumer sentiment and perception (i.e., the “framing effect”). Behavioral research in real estate has demonstrated that such framing effects can influence individuals' perceptions, which may consequently alter decisions made by housing consumers. In this paper, we find that framing effects influence university students and recent graduates with and without proper real estate academic knowledge. Academic real estate knowledge can be an important tool to fortify consumers against the bias created by the media. More practical knowledge and professional experience is needed in order for good judgments about future market performance to be made.-
dc.languageengen_US
dc.publisherAmerican Real Estate Society. The Journal's web site is located at http://www.aresnet.org/ARES/pubs/jrepe/JREPE.htmlen_US
dc.relation.ispartofJournal of Real Estate Practice and Educationen_US
dc.titleReal estate education, professional training, and market bias : a behavioral study in Hong Kongen_US
dc.typeArticleen_US
dc.identifier.emailLi, LH: lhli@hku.hken_US
dc.identifier.authorityLi, LH=rp01010en_US
dc.identifier.scopuseid_2-s2.0-84878441046-
dc.identifier.hkuros231672en_US
dc.identifier.volume15en_US
dc.identifier.issue2en_US
dc.identifier.spage129en_US
dc.identifier.epage151en_US
dc.publisher.placeUnited Statesen_US

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