Loss Aversion and Housing Studies

Bao, Helen X. H.; Meng, Charlotte Chunming

doi:10.1080/10835547.2017.12090454

Cited by 11 publications

(3 citation statements)

References 59 publications

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“…For example, loss aversion can cause a more significant decline in housing satisfaction in response to housing wealth changes among worse-off households , lead developers to postpone the land development process after prior losses in the land acquisition stage , and reduce the probability of moving for homeowners who experienced nominal losses of their home values . The size of loss aversion is in line with behavioural studies in other areas (see the summary in Bao & Meng, 2017). Specifically, the response to changes in housing consumption in the loss domain is about twice that in the gain domain, or the loss aversion parameter in prospect theory's value function is around two.…”

Section: Reference Point Dependence and Loss Aversionsupporting

confidence: 80%

Between Carrots and Sticks, from Intentions to Actions: Behavioural Interventions for Housing Decisions

Bao

2023

SSRN Journal

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Section: Reference Point Dependence and Loss Aversionsupporting

confidence: 80%

Between Carrots and Sticks, from Intentions to Actions: Behavioural Interventions for Housing Decisions

Bao

2023

SSRN Journal

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“…Another stream covers funding and operational management issues. Researchers explore policies for accountability and public-private financing [24] and measures initiated by state agencies to make housing more accessible to older adults [25,26].…”

Section: Literature Reviewmentioning

confidence: 99%

Architectural and Configurational Study of Senior Housing with Steel Volumetric Modular Technology: Towards Age-Ready and Process-Efficient Sustainable Living

Homiński,

Suchoń,

Wawrzkiewicz

et al. 2024

Sustainability

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The aging population requires housing developments that can adapt to their changing needs. The study examines the use of steel volumetric modular technology to construct collective senior housing for independent, sustainable living. The authors explore the qualities of senior housing projects through a literature survey and case studies. Projects appreciated in the architectural industry, illustrating the best practices, are considered. For the development part, the feasible design variants are proposed, BIM modeled, and expertly assessed. Optimization of the types and numbers of modules is carried out to make the most effective use. The potential for generating appropriate flow and social interaction in the shared spaces is also tested. The results prove that a single dwelling unit may embody many features of a suitable architecture for older adults and be used to construct collective senior housing buildings. However, a 3D module with two rooms on either end and a corridor in the middle (the most economical form of 3D prefabrication) is unsuitable for senior housing. Additionally, a narrow 3D module cannot accommodate a complete dwelling unit due to increased dimension needs. Designers and builders must balance economics with the requirements of aging residents to widen the range of volumetric prefabrication areas.

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“…This issue’s shift brings to fore the potential biases of the city stakeholders, decision makers and brokers. Urban participants may tend to rely on judgmental heuristics, leading to framing (Arbel et al ., 2014) or anchoring effects (Bao and Meng, 2017), such as the overly well-known “location, location, location” moto to estimate buildings’ global quality. For instance, it has been shown that the availability bias tends to reinforce investments in places where information is readily available (Adair et al ., 1994).…”

Section: Literature Reviewmentioning

confidence: 99%

Is quality central? Perceived quality, monocentricity, and financial assumptions

Andriot,

Larceneux,

Simon

2024

JERER

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PurposeIn this article, the aim is to document the divergences/convergences between the market perceptions of quality and the financial estimations for office buildings relative to the notion of centrality and the distance to the central business district (CBD).Design/methodology/approachBased on a hierarchical approach that decomposes and estimates the perceived quality of buildings from the stakeholders’ perspectives, we study the geographies of perceived quality measures in the Greater Paris Metropolis and compare them to the financial geography.FindingsThe perceived location quality decreases with distance from the CBD whereas judgments on the built structure and the workplace do not, exhibiting a ring-shaped pattern. The gradient of the components of the perceived quality are heterogeneous, having positive, negative or null values. Appraisers tend only to consider the quality of location in their estimations.Originality/valueThis article raises the issue of fair spatial judgments by appraisers and the financial market. Monocentricity is not the rule in the market perceptions of quality. It suggests that financial estimates are strongly biased, with mental representation of centrality as a judgmental heuristic.

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Loss Aversion and Housing Studies

Cited by 11 publications

References 59 publications

Between Carrots and Sticks, from Intentions to Actions: Behavioural Interventions for Housing Decisions

Between Carrots and Sticks, from Intentions to Actions: Behavioural Interventions for Housing Decisions

Architectural and Configurational Study of Senior Housing with Steel Volumetric Modular Technology: Towards Age-Ready and Process-Efficient Sustainable Living

Is quality central? Perceived quality, monocentricity, and financial assumptions

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