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Do gender, age and education affect herding in the real estate market?

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  • Talpsepp, Tõnn
  • Tänav, Anne-Liis

Abstract

The paper analyses how gender, age, education level and field of education affect herding in the real estate market. We use a dataset of residential real estate transactions from 2004–2012 in Estonia that contains demographic and educational information on the individuals in it. We do not identify any gender-based differences in herding but find a low to moderate degree of herding among very young and older individuals. Individuals with a degree in economics tend to herd less than average.

Suggested Citation

  • Talpsepp, Tõnn & Tänav, Anne-Liis, 2021. "Do gender, age and education affect herding in the real estate market?," Journal of Behavioral and Experimental Finance, Elsevier, vol. 32(C).
    • Handle: RePEc:eee:beexfi:v:32:y:2021:i:c:s2214635021001155
    DOI: 10.1016/j.jbef.2021.100571
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    1. repec:thr:techub:10026:y:2021:i:1:p:475-487 is not listed on IDEAS
    2. Kamer-Ainur Aivaz & Constantin Avram, 2021. "An analysis of the performance of the companies in Constanta County which operate in the real estate transactions field in the context of sustainable development," Technium Social Sciences Journal, Technium Science, vol. 26(1), pages 475-487, Decembrie.
    3. Bastian Schulz, 2023. "Behavioral Finance and how its Behavioral Biases Affect German Investors," ACTA VSFS, University of Finance and Administration, vol. 17(1), pages 39-59.

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    More about this item

    Keywords

    Herding; Real estate; Housing market; Socio-demographic factors; Education;
    All these keywords.

    JEL classification:

    • G02 - Financial Economics - - General - - - Behavioral Finance: Underlying Principles
    • G11 - Financial Economics - - General Financial Markets - - - Portfolio Choice; Investment Decisions

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