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題名:搜尋成本與定錨行為對於購屋者價格貼水之影響
書刊名:住宅學報
作者:廖仲仁張金鶚 引用關係
作者(外文):Liao, Chung-jenChang, Chin-oh
出版日期:2004
卷期:13:2
頁次:頁47-62
主題關鍵詞:搜尋成本捷思法定錨行為外推性預期Search costHeuristicsAnchoring behaviorExtrapolative expectations
原始連結:連回原系統網址new window
相關次數:
  • 被引用次數被引用次數:期刊(8) 博士論文(2) 專書(0) 專書論文(0)
  • 排除自我引用排除自我引用:5
  • 共同引用共同引用:14
  • 點閱點閱:74
本文從搜成植與定錨行為的角度,主要驗證以下三個問題:第一、購屋行為中的定錨或參考價格偏誤是否顯著與程度?第二、參考價格的變動率是否會對購屋者產生外推性預期效果?第三、透過仲介服務可否降低搜尋成本或認知偏誤所形成的價何貼水損失?這三個問題的回答有助於釐清幾個理論與政策上的疑問,即行為研究的觀點能否補充資訊經濟學對於價格分散因素的解釋,同時作為資訊代理人的仲介公司是否能改善資訊不對稱的問題,進而回答政治有無必要介入住宅資訊的管制與服務。 實證結果發現,基於搜尋成本較高的原因,跨鄉鎮市區的跨區購屋者相對 跨區者需要多支付3.8%的價何貼水。其次 ,參考價何愈高的地區,其購屋者會因為定錨效果或參考點偏誤而多支付1%的價格貼水,此外,高價格分配信念的購屋者,平均會支付4.9%的價格貼水。第三,地價上漲率較高地區的購屋者,會誤用自身地區的外推性預期,以為遷入地區也有同等的價格增值空間,而多支付約11.4%的價格貼水。最後,購屋者若尋求仲介服亦能改善其出價能力,約可降低2.9%的價格貼水,然而,仲介服務在改善搜尋成本與定錨的效果方面則不顯著。
This paper is to test three questions using a unique data base in the viewpoint of search cost and Anchoring behavior: First, is there anchoring effect or reference price bias on home-purchasing behavior? Second, is there any extrapolative expectation effect or reference price change on homebuyers? Third, can homebuyers reduce price premium from their high search cost or perceived bias? Those answers can help us understand if we can get alternative interpretation to housing price dispersion and if government should provide housing information service. Empirically, we find that out-of-town/district buyers pay a statistically significant price premium in the Taipei area. We also find some evidence consistent with the price premium being driven by high search costs, anchoring/framing effect and extrapolative expectation form heuristics. Finally, homebuyers can lower price premium through real estate brokers in the market.
期刊論文
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2.Diaz, Julian III(1997)。An Investigation into the Impact of Previous Expert Value Estimates on Appraisal Judgment。Journal of Real Estate Research,13(1)。  new window
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7.Kahneman, D.、Tversky, A.(1979)。Prospect theory: An analysis of decision under risk。Econometrica,47(2),263-291。  new window
8.Tversky, A.、Kahnema, D.(1974)。Judgment under Uncertainty: Heuristic and Biases。Science,185(4157),1124-1131。  new window
9.林祖嘉(19940600)。價格分散與搜尋均衡在臺灣地區住宅市場上之驗證。經濟論文叢刊,22(2),237-267。new window  延伸查詢new window
10.Black, Fisher(1986)。Noise。Journal of Finance,41(3),529-543。  new window
11.Thaler, Richard H.(1985)。Mental Accounting and Consumer Choice。Marketing Science,4(3),199-214。  new window
12.Rosen, Sherwin(1974)。Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition。Journal of Political Economy,82(1),34-55。  new window
13.Cronin, F. J.(1982)。The Efficiency of Housing Search。Southern Economic Journal,48(4),1016-1030。  new window
14.Wheaton, William C.(1990)。Vacancy, Search, and Prices in a Housing Market Matching Model。Journal of Political Economy,98(6),1270-1292。  new window
15.Lambson, V. E.、Slade, B. A.、McQueen, G. R.(2004)。Do Out-of-State Buyers Pay More for Real Estate? An Examination of Anchoring-Induced Bias and Search Costs。Real Estate Economics,32(1),85-126。  new window
16.Lippmanm, S.、McCall, J.(1976)。The Economics of Job Search: A Survey。Economic Inquiry,14(2),155-189+347-368。  new window
17.Northcraft, G.、Neale, M.(1987)。Expert, Amateurs, and Real Estate: An Anchoring-and-adjustment Perspective on Property Pricing Decisions。Organizational Behavior and Human Decision Processes,39(1),84-97。  new window
18.Reed, C.(1991)。Maintenance, Housing Quality, and Vacancies under Imperfect Information。AREUEA Journal,19,138-153。  new window
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研究報告
1.Case, K. E.、Shiller, R. J.(1988)。The Behavior of Home Buyers in Boom and Post-boom Markets。沒有紀錄。  new window
學位論文
1.Rinne, H. J.(1981)。An Empirical Investigation of the Effect of Reference Prices Sales(博士論文)。Purdue University。  new window
圖書
1.Spulber, D. F.(1999)。Market Microstructure: Intermediaries and the Theory of the Firm。Cambridge:Cambridge University Press。  new window
2.Harvey, J.(2000)。Urban Land Economics。Basingstoke, Hampshire:Palgrave Publishers Ltd。  new window
3.鄭麗玉(1993)。認知心理學:理論與應用。臺北:五南圖書。  延伸查詢new window
4.Shleifer, Andrei(2000)。Inefficient Markets: An Introduction to Behavioral Finance。Oxford University Press。  new window
5.Shiller, Robert J.(2000)。Irrational Exuberance。Princeton University Press。  new window
6.饒育蕾、劉達鋒(2003)。行為金融學。上海:上海財經大學。  延伸查詢new window
7.Brown, G. R.、Matysiak, G. A.(2000)。Real Estate Investment: A Capital Market Approach。Pearson Education Asia Pte Ltd。  new window
8.Diaz, Julian, III、Hansz, J. Andrew(2002)。Behavioral Research into the Real Estate Valuation Process: Progress toward a Descriptive Model。Real Estate Valuation Theory。Norwell, MA。  new window
9.Kettell, B.(2001)。Financial Economics: Making Sense of Market Information。Pearson Education Limited。  new window
 
 
 
 
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