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来源类型Working Paper
规范类型报告
DOI10.3386/w18212
来源IDWorking Paper 18212
Projection Bias in the Car and Housing Markets
Meghan R. Busse; Devin G. Pope; Jaren C. Pope; Jorge Silva-Risso
发表日期2012-07-06
出版年2012
语种英语
摘要Projection bias is the tendency to overpredict the degree to which one's future tastes will resemble one's current tastes. We test for evidence of projection bias in two of the largest and most important consumer markets - the car and housing markets. Using data for more than forty million vehicle transactions and four million housing purchases, we explore the impact of the weather on purchasing decisions. We find that the choice to purchase a convertible, a 4-wheel drive, or a vehicle that is black in color is highly dependent on the weather at the time of purchase in a way that is inconsistent with classical utility theory. Similarly, we find that the hedonic value that a swimming pool and that central air add to a house is higher when the house goes under contract in the summertime compared to the wintertime.
主题Microeconomics ; Behavioral Economics ; Households and Firms ; Industrial Organization ; Industry Studies
URLhttps://www.nber.org/papers/w18212
来源智库National Bureau of Economic Research (United States)
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条目标识符http://119.78.100.153/handle/2XGU8XDN/575887
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Meghan R. Busse,Devin G. Pope,Jaren C. Pope,et al. Projection Bias in the Car and Housing Markets. 2012.
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