We model a home seller's pricing decision under a generally defined prospect value function. We show a simple disposition effect is caused by reference dependence, but it only exists when the agent is risk neutral. Diminishing sensitivity will lead to a two-way disposition effect by generating a...

We review the existing literature on the causes of vacancies in the housing market. First, we present a detailed overview of theoretical approaches that may explain the mechanisms causing vacancies under the assumptions of a standard market model, the search and matching theory and behavioral...

The aim of this paper is to investigate whether different market regimes affect bidding behavior in housing auctions. Taking advantage of special circumstances in the Norwegian housing market in 2015 and 2016, we conduct a survey involving 1803 respondents in three of Norway’s largest cities,...