Loss aversion is a core concept in prospect theory that refers to people's asymmetric attitudes with respect to gains and losses. More specifically, losses loom larger than gains. With the capability of loss aversion to explain economic phenomena, some of which are puzzling under expected...

The purpose of this case is to provide a setting to analyze the impact of major events (e.g., the Olympic Games) on property prices. By focusing on the Wangjing area in Beijing, the impact of the 2008 Olympic Games on Beijing's residential property market can be analyzed using transaction data...