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The effects of information presentation on real estate market perceptions

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  • Changha Jin
  • Paul Gallimore

Abstract

The study seeks to identify systematic differences in perception of the real estate market caused by the frames through which people obtain market information. We operationalise the frames through manipulation of data presentation in a commercial real estate market report, selectively controlling time scale, proportionality distortion and negative value presentation. Our findings suggest that such differences are real and their effects should be taken into account in the design and interpretation of market reports.

Suggested Citation

  • Changha Jin & Paul Gallimore, 2010. "The effects of information presentation on real estate market perceptions," Journal of Property Research, Taylor & Francis Journals, vol. 27(3), pages 239-246, April.
    • Handle: RePEc:taf:jpropr:v:27:y:2010:i:3:p:239-246
    DOI: 10.1080/09599916.2010.518404
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    References listed on IDEAS

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    1. Paul Gallimore & Patrick McAllister, 2004. "Expert judgement in the Processes of Commercial Property Market Forecasting," Real Estate & Planning Working Papers rep-wp2004-11, Henley Business School, University of Reading.
    2. Paul Gallimore, 2004. "Expert judgement in the processes of commercial property market forecasting," ERES eres2004_525, European Real Estate Society (ERES).
    3. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    4. Diacon, Stephen & Hasseldine, John, 2007. "Framing effects and risk perception: The effect of prior performance presentation format on investment fund choice," Journal of Economic Psychology, Elsevier, vol. 28(1), pages 31-52, January.
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    Cited by:

    1. Akshita Singh & Shailendra Kumar & Utkarsh Goel & Amar Johri, 2023. "Behavioural biases in real estate investment: a literature review and future research agenda," Palgrave Communications, Palgrave Macmillan, vol. 10(1), pages 1-17, December.
    2. Luc Meunier & Sima Ohadi, 2023. "When are two portfolios better than one? A prospect theory approach," Theory and Decision, Springer, vol. 94(3), pages 503-538, April.

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