Significance of anchoring and adjustment heuristic in the process of value creation on the real estate market Cover Image

Znaczenie heurystyki zakotwiczenia i dostosowania w procesie wartościotwórczym na rynku nieruchomości
Significance of anchoring and adjustment heuristic in the process of value creation on the real estate market

Author(s): Justyna Brzezicka
Subject(s): National Economy, Applied Geography
Published by: Wydawnictwo Uniwersytetu Warmińsko-Mazurskiego w Olsztynie
Keywords: real estate market;anchoring and adjustment heuristic;behavioral economics;real estate value;real estate price;decision-making heuristics;

Summary/Abstract: The article pertains to the phenomenon of anchoring and adjustment heuristic, constituting one of the main behavioral heuristics. In the theoretical section of the work, this phenomenon is described with reference to the initial definition; next, its significance in the value creation process on the real estate market is presented. The influence of anchoring and adjustment on the perception of real estate value is also exemplified by foreign literature. The article is of a scientific nature, with the existence of the anchoring and adjustment phenomenon on the Polish real estate market in value-creating processes confirmed on the basis of surveys.

  • Issue Year: 15/2016
  • Issue No: 1
  • Page Range: 31-44
  • Page Count: 14
  • Language: Polish