Using Experimental and Neurological Data to Gain a Deeper Understanding of Realization Utility Theory

Scott Gibson, Michael J. Seiler, Eric Walden

Research output: Contribution to journalArticle

Abstract

Starting with the premise that realization utility theory helps explain trading behavior, this study combines a carefully crafted experimental design with functional magnetic resonance imaging technology to offer a more inclusive examination of factors that affect REIT trading behavior beyond whether a REIT is simply trading up or down. We add to the nascent field of neurological real estate by finding that local gains/loss domains are more relevant than are global gain/loss considerations, financial skewness is a significant determinant of trading behavior, and that performance inside the REIT market influences how hard subjects think when performing tasks outside the market.

Original languageEnglish
Pages (from-to)1119-1162
Number of pages44
JournalReal Estate Economics
Volume47
Issue number4
DOIs
StatePublished - Dec 1 2019

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