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Familiarity Bias and Perceived Future Home Price MovementsMichael Joseph SeilerOld Dominion University - Finance Vicky L. SeilerJohns Hopkins University David M. HarrisonTexas Tech University Mark Laneaffiliation not provided to SSRN March 13, 2011 Journal of Behavioral Finance, Forthcoming Abstract: This study empirically confirms the existence of the status quo deviation aversion hypothesis, but not increasing status quo deviation aversion, in people who own their primary residence. The examination was conducted in the 20 Case-Shiller MSAs across the country. The results are systemic and do not vary substantially by demographic characteristics. However, variations are noted with different levels of real estate knowledge, income, purchase motive, relative home tenure, and excess relative housing risk.
Number of Pages in PDF File: 41 Keywords: familiarity bias, behavioral real estate, status quo deviation aversion, increasing status quo deviation aversion Accepted Paper SeriesDate posted: March 18, 2011 ; Last revised: June 22, 2011Suggested CitationContact Information
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