Experience and real estate investment decision-making: a process-tracing investigation

Sah, V., Gallimore, P. and Clements, J. S. (2010) Experience and real estate investment decision-making: a process-tracing investigation. Journal of Property Research, 27 (3). pp. 207-219. ISSN 1466-4453 doi: 10.1080/09599916.2010.518402

Abstract/Summary

This study investigates the impact of experience upon trained behaviours in real estate investment decision‐making. In a controlled experiment design, two groups of subjects, experts and novices, conduct an evaluation and reach a decision about two investment options. Using a process‐tracing technique, each subject’s behaviour is observed and recorded. Differences between the groups are discovered in relation to some behaviour characteristics, but experience appears not to impact all behaviours. These findings are discussed in relation to the current absence of a universal normative model of real estate investment decision‐making. In an associated component of the study, the belief that monetary compensation is needed in order to render valid results from studies such as this is tested. We find this not to be the case.

Additional Information	Special Issue: Behavioural Real Estate Research
Item Type	Article
URI	https://reading-clone.eprints-hosting.org/id/eprint/29307
Item Type	Article
Refereed	Yes
Divisions	Henley Business School > Real Estate and Planning
Additional Information	Special Issue: Behavioural Real Estate Research
Publisher	Routledge
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