Course ObjectiveThe aims of the course are to understand:
- how people are subject to distortions or biases in their beliefs and
have preferences that are not understood in a normatively acceptable
- how behavioral biases affect the decisions of participants in real
- how the bounded rationality of market participants can explain the
dynamics of real estate markets.
Course ContentThis course provides a behavioral perspective on real estate decision
making and markets. In particular, students learn how behavioral biases
affect the decisions of participants in real estate markets, and how the
bounded rationality of market participants can explain real estate
market dynamics. The course starts with a general introduction into the
psychology of decision making. The second part provides a psychological
perspective on property valuations, negotiation outcomes, and mortgage
choices. The last part of the course considers the efficiency and
dynamics of real estate markets, with a special focus on bubbles and
Teaching MethodsLectures (2 times 3 hours per week)
Method of AssessmentWritten exam (80%) and assignment (20%)
Literature- Bazerman & Moore, Judgment in Managerial Decision Making, Wiley, most
- Selected articles (to be announced).
Target AudienceThis course is part of the Minor Real Estate Economics and Finance.
|Language of Tuition||English|
|Faculty||School of Business and Economics|
|Course Coordinator||prof. dr. M.J. van den Assem|
|Examiner||prof. dr. M.J. van den Assem|
prof. dr. M.J. van den Assem
dr. K.L. Wolk
dr. D. van Dolder
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Last-minute registration is available for this course.
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