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http://hdl.handle.net/10419/56316
  
Title:Mental accounting in the housing market PDF Logo
Authors:Almenberg, Johan
Karapetyan, Artashes
Issue Date:2009
Series/Report no.:SSE/EFI Working Paper Series in Economics and Finance 718
Abstract:We report evidence that salience may have economically significant effects on homeowners' borrowing behavior, through a bias in favour of less salient but more costly loans. We outline a simple model in which some consumers are biased. Under plausible assumptions, the bias may affect prices in equilibrium. Market data support the predictions of the model.
Subjects:salience
housing market
household finance
co-op
capital structure
JEL:D12
G14
G21
G32
Document Type:Working Paper
Appears in Collections:SSE/EFI Working Paper Series in Economics and Finance, EFI - The Economic Research Institute, Stockholm School of Economics

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