题名

購屋決策之定錨偏誤－分量觀點

并列篇名

Anchoring Bias in House Purchasing Decisions: A Quantile Regression Perspective

DOI

10.6277/TER.201809_46(3).0004

作者

張傳章(Chuang-Chang Chang)；趙慶祥(Ching-Hsiang Chao)；葉錦徽(Jin-Huei Yeh)

关键词

不動產 ； 定錨偏誤 ； 購屋者 ； 分量迴歸 ； real estate ； anchoring bias ； homebuyer ； quantile regression

期刊名称

經濟論文叢刊

卷期/出版年月

46卷3期（2018 / 09 / 01）

页次

451 - 500

内容语文

繁體中文
中文摘要

本文旨在驗證不動產市場中，購屋決策是否存在定錨行為與其對房價所造成的影響。受惠於首度取得台灣不動產市場中完整的實際交易資料，因此我們得以深入探究交易市場中的參與者對於房價是否有定錨之行為偏誤。透過分量迴歸，深入分析購屋者對於高總價和低總價房屋類型的認知偏誤差異，以及不動產屬性對願付價格的影響。我們發現不分性別，定錨偏誤普遍存在於購屋決策中；然而，較富有經驗的購屋者在購屋時則可免於陷入定錨危機中。此外，在比較不同的購屋者型態後，發現男性購屋者在購買高價位的房屋時較容易受定錨偏誤影響；有趣的是，高價位的房屋在系統性風險升高之下亦存在較高的定錨偏誤。總括來說，定錨行為在面對不確定性的購屋決策中有相當重要的影響。
英文摘要

This study examines the existence and influence of anchoring bias, evaluating a priori arguments and evidence from the real estate market indicating the effect of investor sentiment on house purchasing decisions. Based upon a unique dataset which provides the complete histories of transactions, housing characteristics and investor attributes in the real estate market, we investigate whether the market participants are likely to fall into the anchoring trap. The quantile regression allows us to show the difference between high-priced and low-priced dwelling units on investor's cognitive biases. We find that anchoring is a common phenomenon, regardless of gender; however, sophisticated homebuyers are less susceptible to the anchoring bias. Male homebuyers faced with higher-priced real estate exhibit higher levels of anchoring, and homebuyers faced with higher systemic uncertainty exhibit higher levels of anchoring also when faced with high-priced real estate. In conclusion, anchoring bias due to heuristic thinking plays an important role in the face of uncertainty in real estate purchasing decisions.
主题分类 社會科學 > 經濟學
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被引用次数
  1. 陳琮仁,張金鶚,徐士勛,林士淵(2020)。高雄氣爆後的房價被市場暴棄了？。經濟論文，48(1)，33-68。
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