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Article: Real estate education, professional training, and market bias : a behavioral study in Hong Kong
Title | Real estate education, professional training, and market bias : a behavioral study in Hong Kong |
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Authors | |
Issue Date | 2012 |
Publisher | American 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? |
Abstract | The 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 Identifier | http://hdl.handle.net/10722/199218 |
ISSN | 2019 SCImago Journal Rankings: 0.153 |
DC Field | Value | Language |
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dc.contributor.author | Li, LH | en_US |
dc.date.accessioned | 2014-07-22T01:08:44Z | - |
dc.date.available | 2014-07-22T01:08:44Z | - |
dc.date.issued | 2012 | en_US |
dc.identifier.citation | Journal of Real Estate Practice and Education, 2012, v. 15 n. 2, p. 129-151 | en_US |
dc.identifier.issn | 1521-4842 | en_US |
dc.identifier.uri | http://hdl.handle.net/10722/199218 | - |
dc.description.abstract | The 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.language | eng | en_US |
dc.publisher | American Real Estate Society. The Journal's web site is located at http://www.aresnet.org/ARES/pubs/jrepe/JREPE.html | en_US |
dc.relation.ispartof | Journal of Real Estate Practice and Education | en_US |
dc.title | Real estate education, professional training, and market bias : a behavioral study in Hong Kong | en_US |
dc.type | Article | en_US |
dc.identifier.email | Li, LH: lhli@hku.hk | en_US |
dc.identifier.authority | Li, LH=rp01010 | en_US |
dc.identifier.scopus | eid_2-s2.0-84878441046 | - |
dc.identifier.hkuros | 231672 | en_US |
dc.identifier.volume | 15 | en_US |
dc.identifier.issue | 2 | en_US |
dc.identifier.spage | 129 | en_US |
dc.identifier.epage | 151 | en_US |
dc.publisher.place | United States | en_US |
dc.identifier.issnl | 1521-4842 | - |