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Behavioral Research in Real Estate: A Search for the Boundaries

Author

Listed:
  • Roy Black
  • Gordon Brown
  • Julian Diaz
  • Karen Gibler
  • Terry Grissom

Abstract

Executive Summary. This article examines the growing body of behavioral literature in real estate. The emerging view of real property experts as problem solvers bounded by cognitive limitations is reviewed. Normative versus descriptive processes are presented as are potentially biasing heuristics and the role of feedback. In separate sections, the authors explore avenues of potential real estate research and methodologies in finance and traditional economics, expert decision making, marketing and markets, spatial analytics, organizational behavior and development, and the legal and regulatory environment.

Suggested Citation

  • Roy Black & Gordon Brown & Julian Diaz & Karen Gibler & Terry Grissom, 2003. "Behavioral Research in Real Estate: A Search for the Boundaries," Journal of Real Estate Practice and Education, Taylor & Francis Journals, vol. 6(1), pages 85-112, January.
    • Handle: RePEc:taf:rjrpxx:v:6:y:2003:i:1:p:85-112
    DOI: 10.1080/10835547.2003.12091589
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