Loss aversion and duration of residence

Morrison, Philip; Clark, William A. V.

doi:10.4054/demres.2016.35.36

Cited by 44 publications

(41 citation statements)

References 54 publications

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“…(Meeus y De Decker, 2015) o ¿por qué lo hacen durante más o menos tiempo? (Hjälm, 2014;Morrison y Clark, 2016). Desde una perspectiva basada en la toma de decisiones, estos acercamientos señalan que la inmovilidad es algo más que el reverso de la movilidad y advierten de la necesidad de ampliar el marco conceptual y analítico en los estudios sobre decisiones residenciales, ya que las razones y las dinámicas que impulsan a moverse pueden no ser las mismas que las que impulsan a permanecer en un lugar (Clark y Lisowski, 2017).…”

Section: Más Allá De La Decisión De Moverse O Quedarse Una Apuesta Punclassified

Del sedentarismo a la hipermovilidad. Medida y determinantes de las historias de (in)movilidad residencial en contextos urbanos

Palomares‐Linares

Ham

2017

PapRevSoc

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Section: Más Allá De La Decisión De Moverse O Quedarse Una Apuesta Punclassified

Del sedentarismo a la hipermovilidad. Medida y determinantes de las historias de (in)movilidad residencial en contextos urbanos

Palomares‐Linares

Ham

2017

PapRevSoc

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“…According to prospect theory [37], the extra rent and transaction costs are considered as losses. In general, many households are loss averse with regard to decisions about housing mobility, and postpone or even cancel previously intended moves [35]. Engelhardt [38] also found that loss aversion leads to reduced mobility.…”

Section: Barriers Of Transaction Costs With Changes In Housing Rentmentioning

confidence: 99%

“…As expected, finding a suitable and accessible house may involve transaction costs, such as search costs, negotiation costs, transaction taxes, and moving costs. In addition, housing mobility, particularly involving a new neighborhood, is a classic example of a multidimensional and inter-temporal decision [35].…”

Section: Methodological Approachmentioning

confidence: 99%

Simulating the Barriers of Transaction Costs to Public Rental Housing Exits: The Case of Wuhan, China

Ning

Sun

et al. 2018

Sustainability

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Abstract:The purpose of this paper is to explore and simulate the barriers of transaction costs to public rental housing (PRH) exits in China. The two-period model of household consumption utility, with the constraints of transaction costs, is employed to conduct our analysis. The overall results show that if transaction costs go beyond the tenants' ability to afford them, the tenants will continue to live in the current PRH units, resulting in an obstruction of PRH exits. When the rent ratio in the two periods is higher than 1 and continues to rise, a higher proportion of transaction costs for household consumption contributes to a greater impeding effect, so the barriers' effect with regards to concurrent changes in rent and income is similar to that of changes only in rent. We observe a close relationship between the acceptable maximum transaction costs and the variety of housing rents. If the tenants cannot afford the maximum transaction cost or housing rent in the private market, they will stop searching for a more advantageous housing and will prefer living in the current PRH units. Moreover, the proportion of maximum acceptable transaction costs does not vary with the changes in the expected household income; income growth only increases the absolute value of transaction costs, not the relative one. Therefore, the government should not only provide housing search services to help tenants leave the public rental sector, but should also adjust the supply of affordable housing for households with housing stress.

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“…But we can see that of course they are not two different populations; rather, at various times people are movers and then stayers and so on. Functionally, the process is one which involves staying as the preferred state and moving as the process of achieving equilibrium (Morrison and Clark, 2016). This helps explain the emphasis (discussed in the previous section) on the decision making around the events which occur over the life course.…”

Section: Moving and Staying Over The Life Course -Attachment And Duramentioning

confidence: 99%

“…Duration becomes the paramount state and is interrupted with moves created by choice or by necessity. By thinking of a continuum we are forced to recognize that events (moves) are simply points in a continuum of staying (Morrison and Clark, 2016). Panel data afford us an entirely new and more fruitful conceptualization of human interactions with place.…”

Section: Moving and Staying Over The Life Course -Attachment And Duramentioning

confidence: 99%

Residential mobility in context: Interpreting behavior in the housing market

Clark

2017

PapRevSoc

Self Cite

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Residential mobility is the process whereby individuals and households adjust their locations in cities. These moves, in the aggregate, change neighborhoods as well as providing specific housing outcomes for households and families as a result of the move. The literature on residential change has evolved from cross-sectional studies of family structure and their housing circumstances, to life course analyses of the motivations for moving, the contexts in which the moves occur, and the intersection of life course change and housing choice. The combined work of demographers, geographers, economists and sociologists has provided a much clearer and more nuanced understanding of behavior in the housing market than was possible with cross-sectional analyses. This paper reviews the evolution of life course approaches to residential mobility and discusses the current state of the research literature. Keywords: mobility; life course; housing markets; neighborhoods; residential sorting * Some of the material in this paper was originally prepared for a seminar on housing hosted Resumen. La movilidad residencial en su contexto: interpretar el comportamiento en el mercado residencialLa movilidad residencial es el proceso por el cual los individuos y hogares ajustan su localización en la ciudad. Estos cambios, de manera agregada, transforman los barrios al tiempo que producen efectos específicos sobre los hogares y las familias. La literatura sobre cambios de residencia ha evolucionado desde los planteamientos transversales sobre la estructura familiar y las condiciones de su domicilio hacia análisis desde la perspectiva del curso vital de las razones para mudarse, los contextos en que ocurren los cambios, y la intersección de los cambios vitales y la elección residencial. El trabajo combinado de demógrafos, geógrafos, economistas y sociólogos ha proporcionado una comprensión más clara y matizada de lo que era posible con análisis transversales. Este artículo revisa la evolución de los acercamientos a la movilidad residencial desde el curso vital, y debate el estado de la cuestión en la literatura de investigación.

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Loss aversion and duration of residence

Cited by 44 publications

References 54 publications

Del sedentarismo a la hipermovilidad. Medida y determinantes de las historias de (in)movilidad residencial en contextos urbanos

Del sedentarismo a la hipermovilidad. Medida y determinantes de las historias de (in)movilidad residencial en contextos urbanos

Simulating the Barriers of Transaction Costs to Public Rental Housing Exits: The Case of Wuhan, China

Residential mobility in context: Interpreting behavior in the housing market

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