-family housing in Germany. Construction activity in local housing markets (measured by new housing permits related to the local … housing stock) is modeled as a function of local home prices and new housing development costs, with the latter including …

Loss aversion is a core concept in prospect theory that refers to people's asymmetric attitudes with respect to gains … phenomena, some of which are puzzling under expected utility theory, this concept has received significant attention. This study … loss" will affect the pricing of the housing products and development time of the project in future development. We use a …