This paper presents an original economic model of the apartment rental market where service expenditures are invisible to prospective residents (but highly important to current residents), while recruiting expenditures are highly visible to prospective residents (but often inconsequential to...

The explosive growth of Real Estate Investment Trusts (REITs) is changing the ownership structure of rental housing in the U.S. and across the world. This paper reports the impact of REIT ownership on renter satisfaction by analyzing nearly one-half million ratings posted on the largest consumer...

Philanthropic decision-making is important both for its potential to provide insight into human behaviour and for its economic significance. In recent years, investigations of charitable-giving behaviour have expanded substantially, including explorations from a variety of disciplinary...

This paper presents findings from neuroscience, neuro-finance, neuro-economics, behavioral finance, and behavioral economics in the context of a two-system model of human decision-making, labeled as the “rider” and the “elephant”. The rational “rider” system is characterized by...

This first ever functional magnetic resonance imaging (fMRI) analysis of charitable bequest decision-making found increased activation in the precuneus and lingual gyrus of the brain compared to charitable giving and volunteering decisions. Greater lingual gyrus activation was also associated...

How do renters approaching retirement respond to their absence of housing equity? Traditional life cycle accumulation theory suggests compensation by increased investment in other asset classes. Behavioral “mental accounting” suggests that there may be no affect on investment in other asset...

This paper compares pre-death charitable testamentary expectations with post-death distributions for deceased panel members in the 1995-2006 Health and Retirement Study. Most respondents who reported having a charitable estate plan in the survey wave immediately prior to their death ultimately...

Changing financial advisors during an advisor-intermediated stock-market game was more likely during periods of relative underperformance. Immediately prior to changing advisors, brain activation was greater in areas associated with error detection (dorsal anterior cingulate cortex) and number...

Using the Asset and Health Dynamics among the Oldest Old (AHEAD), this study presents the first longitudinal results analyzing factors among older adults associated with beginning and discontinuing the use of a financial advisor. Getting a financial advisor was positively associated with...