Cheung, Ka Shing; Chan, TszKin Julian; Li, Sijie; Yiu, … - In: Journal of risk and financial management : JRFM 14 (2021) 9, pp. 1-22
Conventional wisdom suggests that non-local buyers usually pay a premium for home purchases. While the standard contract theory predicts that non-local buyers may pay such a price premium because of the higher cost of gathering information, behavioral economists argue that the premium is due to...
