@article{ART002209018},
author={jeong seong hoon and Park， Keun Woo},
title={An Empirical Study on the Cognitive Biases of The Korea Real Estate Market Through the Testing of Prospect Theory},
journal={Korea Real Estate Review},
issn={2092-5395},
year={2017},
volume={27},
number={1},
pages={7-16}
TY - JOUR
AU - jeong seong hoon
AU - Park， Keun Woo
TI - An Empirical Study on the Cognitive Biases of The Korea Real Estate Market Through the Testing of Prospect Theory
JO - Korea Real Estate Review
PY - 2017
VL - 27
IS - 1
PB - korea real estate research institute
SP - 7
EP - 16
SN - 2092-5395
AB - In this study, we examine whether there are prospect theory investment patterns for individual investors in the real estate market. We use the maximum potential profit rate and the maximum potential loss rate of individual investors as a research method and additionally analyze it using the Jeong and Park(2015) model. As a result of the analysis, it was found that the investment pattern according to the prospect theory and disposition effect for individual investors. And we find the difference between zoning areas. This difference in investment behavior is believed to be due to the purpose of the real estate and the existence of rent fee, which creates a difference in investment behavior depending on the purpose. The limitations of this study are the analysis measurement of potential profit and potential loss using the land price index like the study of jeong and Park(2015). This implies that a new property price index needs to be developed or a benchmark for real estate assets is needed for deeper study of real estate investment sentiment.
KW - prospect theory;disposition effect;investment psychology;zoning;loss aversion
DO -
UR -
ER -
jeong seong hoon and Park， Keun Woo. (2017). An Empirical Study on the Cognitive Biases of The Korea Real Estate Market Through the Testing of Prospect Theory. Korea Real Estate Review, 27(1), 7-16.
jeong seong hoon and Park， Keun Woo. 2017, "An Empirical Study on the Cognitive Biases of The Korea Real Estate Market Through the Testing of Prospect Theory", Korea Real Estate Review, vol.27, no.1 pp.7-16.
jeong seong hoon, Park， Keun Woo "An Empirical Study on the Cognitive Biases of The Korea Real Estate Market Through the Testing of Prospect Theory" Korea Real Estate Review 27.1 pp.7-16 (2017) : 7.
jeong seong hoon, Park， Keun Woo. An Empirical Study on the Cognitive Biases of The Korea Real Estate Market Through the Testing of Prospect Theory. 2017; 27(1), 7-16.
jeong seong hoon and Park， Keun Woo. "An Empirical Study on the Cognitive Biases of The Korea Real Estate Market Through the Testing of Prospect Theory" Korea Real Estate Review 27, no.1 (2017) : 7-16.
jeong seong hoon; Park， Keun Woo. An Empirical Study on the Cognitive Biases of The Korea Real Estate Market Through the Testing of Prospect Theory. Korea Real Estate Review, 27(1), 7-16.
jeong seong hoon; Park， Keun Woo. An Empirical Study on the Cognitive Biases of The Korea Real Estate Market Through the Testing of Prospect Theory. Korea Real Estate Review. 2017; 27(1) 7-16.
jeong seong hoon, Park， Keun Woo. An Empirical Study on the Cognitive Biases of The Korea Real Estate Market Through the Testing of Prospect Theory. 2017; 27(1), 7-16.
jeong seong hoon and Park， Keun Woo. "An Empirical Study on the Cognitive Biases of The Korea Real Estate Market Through the Testing of Prospect Theory" Korea Real Estate Review 27, no.1 (2017) : 7-16.
