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A Study of the Investment Behavior and Psychology of Investorsin Real Estate Market -Focused on Disposition Effect-

  • Korea Real Estate Review
  • 2015, 25(3), pp.97-112
  • Publisher : korea real estate research institute
  • Research Area : Social Science > Law > Law of Special Parts > Law of Real Estate

jeong seong hoon 1 박근우 2

1대구가톨릭대학교
2대구가톨릭대

Accredited

ABSTRACT

The purpose of this study is to find the disposition effect in the housing market of Korea. Thorough the copy of a register book, we were able to get 1,752 data. In this study, we proposed the model to find the disposition effect which drew on models of Odean(1998) and Jeong SeongHoon(2003). In the result of this research, through the frequency model, we were able to find the disposition effect in the housing market. And we also found similarly result of Jeong SeongHoon(2011) which found the assets size effect. The suggestion point of this study is that we showed the behavioral biases of investors and the asset size effect who participate in real estate market of Korea. And given the paucity of material on the real trade data of Korea housing market, this study would be helpful to understand the behavior of investors.

Citation status

* References for papers published after 2023 are currently being built.

This paper was written with support from the National Research Foundation of Korea.