Are buyers of apartments superstitious? Evidence from the Russian real estate market
We study the influence of numerological superstitions on people’s buying behavior in the apartment market using unique actual sales data. Based on the dataset from Saint-Petersburg primary real estate market we compare the share of sold apartments on floor 7 with that on floors 6 and 8, whereas floo...
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Society for Judgment and Decision Making
2015-11-01
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| Series: | Judgment and Decision Making |
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| Online Access: | http://journal.sjdm.org/15/151009/jdm151009.pdf |
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doaj-ff4d9a9ab4bb450d9b14f045fb9402562021-05-02T01:16:54ZengSociety for Judgment and Decision MakingJudgment and Decision Making1930-29752015-11-01106590592Are buyers of apartments superstitious? Evidence from the Russian real estate marketEvgeny A. AntipovElena B. PokryshevskayaWe study the influence of numerological superstitions on people’s buying behavior in the apartment market using unique actual sales data. Based on the dataset from Saint-Petersburg primary real estate market we compare the share of sold apartments on floor 7 with that on floors 6 and 8, whereas floor 13 is benchmarked to floors 12 and 14. As floor plans are absolutely identical we manage to isolate the effects of the “lucky” and “unlucky” floors. The data we use allows clean identification of superstition effects, while being publicly available. We have found a clear negative effect of the 13th floor on demand for apartments, and a significant effect of preference towards the 7th floor compared to the two neighboring floors. Possible applications of our approach to other areas of consumer research are discussed. % changedhttp://journal.sjdm.org/15/151009/jdm151009.pdfsuperstitions jinx number lucky number real estate apartments.NAKeywords |
| collection |
DOAJ |
| language |
English |
| format |
Article |
| sources |
DOAJ |
| author |
Evgeny A. Antipov Elena B. Pokryshevskaya |
| spellingShingle |
Evgeny A. Antipov Elena B. Pokryshevskaya Are buyers of apartments superstitious? Evidence from the Russian real estate market Judgment and Decision Making superstitions jinx number lucky number real estate apartments.NAKeywords |
| author_facet |
Evgeny A. Antipov Elena B. Pokryshevskaya |
| author_sort |
Evgeny A. Antipov |
| title |
Are buyers of
apartments superstitious? Evidence from the Russian real estate market |
| title_short |
Are buyers of
apartments superstitious? Evidence from the Russian real estate market |
| title_full |
Are buyers of
apartments superstitious? Evidence from the Russian real estate market |
| title_fullStr |
Are buyers of
apartments superstitious? Evidence from the Russian real estate market |
| title_full_unstemmed |
Are buyers of
apartments superstitious? Evidence from the Russian real estate market |
| title_sort |
are buyers of
apartments superstitious? evidence from the russian real estate market |
| publisher |
Society for Judgment and Decision Making |
| series |
Judgment and Decision Making |
| issn |
1930-2975 |
| publishDate |
2015-11-01 |
| description |
We study the
influence of numerological superstitions on people’s buying behavior in the
apartment market using unique actual sales data. Based on the dataset from
Saint-Petersburg primary real estate market we compare the share of sold
apartments on floor 7 with that on floors 6 and 8, whereas floor 13 is
benchmarked to floors 12 and 14. As floor plans are absolutely identical we
manage to isolate the effects of the “lucky” and “unlucky” floors. The data we
use allows clean identification of superstition effects, while being publicly
available. We have found a clear negative effect of the 13th floor on demand
for apartments, and a significant effect of preference towards the 7th floor
compared to the two neighboring floors. Possible applications of our approach
to other areas of consumer research are discussed. % changed |
| topic |
superstitions jinx number lucky number real estate apartments.NAKeywords |
| url |
http://journal.sjdm.org/15/151009/jdm151009.pdf |
| work_keys_str_mv |
AT evgenyaantipov arebuyersofapartmentssuperstitiousevidencefromtherussianrealestatemarket AT elenabpokryshevskaya arebuyersofapartmentssuperstitiousevidencefromtherussianrealestatemarket |
| _version_ |
1721496668728197120 |