The Endowment Effect and Housing Markets av Mateusz Tomal

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<p>This book aims to provide a comprehensive analysis of the so-called ¿endowment effect¿ in the housing market. In a nutshell, the phenomenon of overvaluing things we own which was first conceptualised in 1980 and has since been one of the most studied behavioural biases in economics.</p><p>The first chapter presents a systematic review of the literature on the endowment effect in the housing market, together with the identification of research gaps to be filled by other researchers. The second chapter aims to propose a theoretical model explaining the strength of the endowment effect in sales and rental housing markets by primary and secondary markets. The last chapter presents the results of empirical research on the endowment effect in the Polish housing market, testing the model presented in Chapter 2. The chapters can be read together or independently by researchers, students, and policymakers interested in behavioural economics in housing and real estate. For policymakers, the b