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...
| Main Authors: | , |
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| Format: | Article |
| Language: | English |
| Published: |
Cambridge University Press
2015-11-01
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| Series: | Judgment and Decision Making |
| Subjects: | |
| Online Access: | https://www.cambridge.org/core/product/identifier/S1930297500007026/type/journal_article |
| _version_ | 1797701161947496448 |
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| author | Evgeny A. Antipov Elena B. Pokryshevskaya |
| author_facet | Evgeny A. Antipov Elena B. Pokryshevskaya |
| author_sort | Evgeny A. Antipov |
| collection | DOAJ |
| 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. |
| first_indexed | 2024-03-12T04:31:25Z |
| format | Article |
| id | doaj.art-fde86f1df5454a4c89849195d206e343 |
| institution | Directory Open Access Journal |
| issn | 1930-2975 |
| language | English |
| last_indexed | 2024-03-12T04:31:25Z |
| publishDate | 2015-11-01 |
| publisher | Cambridge University Press |
| record_format | Article |
| series | Judgment and Decision Making |
| spelling | doaj.art-fde86f1df5454a4c89849195d206e3432023-09-03T10:05:04ZengCambridge University PressJudgment and Decision Making1930-29752015-11-011059059210.1017/S1930297500007026Are buyers of apartments superstitious? Evidence from the Russian real estate marketEvgeny A. Antipov0Elena B. Pokryshevskaya1National Research University Higher School of Economics, Kantemirovskaya St. 3, Saint-Petersburg, Russia, 194100National Research University Higher School of Economics, Saint-Petersburg, RussiaWe 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.https://www.cambridge.org/core/product/identifier/S1930297500007026/type/journal_articlesuperstitionsjinx numberlucky numberreal estateapartments |
| 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 |
| title | 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_short | 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 |
| topic | superstitions jinx number lucky number real estate apartments |
| url | https://www.cambridge.org/core/product/identifier/S1930297500007026/type/journal_article |
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