THE " BAD DEAL " ILLUSION

Abstract : Why can contracting with an intermediary be perceived as a " bad deal " compared with a direct contract between buyers and sellers? This study shows that information asymmetries in brokerage services lead to forming a judgmental heuristic that is a negative attitude toward commission fees, called " commission inequity. " Using a questionnaire from 3,484 housing buyers and sellers, we show that this heuristic influences the perceived satisfaction of the transaction price which, in turn, influences broker reputation. Moreover, buyers using brokerage services do not report different purchasing prices than buyers via direct transactions (FSBO) but perceive a significantly lower price satisfaction. These results are replicated with sellers who report a higher selling price when using a broker as compared to sellers selling directly. However, they also indicate a significant lower price satisfaction compared with FSBO sellers. Therefore, the commission inequity heuristic is shown to lead to the illusion of a bad deal.
Type de document :
Communication dans un congrès
Congrès de l'ACFAS, Jun 2016, Montreal, Canada
Liste complète des métadonnées

Littérature citée [49 références]  Voir  Masquer  Télécharger

https://halshs.archives-ouvertes.fr/halshs-01671084
Contributeur : Fabrice Larceneux <>
Soumis le : jeudi 21 décembre 2017 - 18:48:29
Dernière modification le : jeudi 11 janvier 2018 - 06:17:41

Fichier

version bad illusion HAL SHS.p...
Fichiers produits par l'(les) auteur(s)

Identifiants

  • HAL Id : halshs-01671084, version 1

Collections

DRM | PSL

Citation

Fabrice Larceneux, Thomas Lefebvre. THE " BAD DEAL " ILLUSION. Congrès de l'ACFAS, Jun 2016, Montreal, Canada. 〈halshs-01671084〉

Partager

Métriques

Consultations de la notice

9

Téléchargements de fichiers

7