Loss Aversion and Seller Behavior: Evidence from the Housing Market: Comment Working Paper
AbstractIn an often quoted article, Genesove and Mayer (2001) observe that house sellers are reluctant to sell at a loss, and attribute this finding to loss aversion. I show that loss aversion cannot explain this phenomenon.
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Date of creation: Jan 2013
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Loss aversion; prospect theory; housing market;
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-03-02 (All new papers)
- NEP-UPT-2013-03-02 (Utility Models & Prospect Theory)
- NEP-URE-2013-03-02 (Urban & Real Estate Economics)
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