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The value function that passes through the reference point is s-shaped and asymmetrical. The value function is steeper for losses than gains indicating that losses outweigh gains. Prospect theory stems from loss aversion, where the observation is that agents asymmetrically feel losses greater than that of an equivalent gain. It centralises ...
The expansion of the big modern cities gives the land in certain sections of them, particularly in those which are centrally situated, an artificial, often economically increasing, value; the buildings erected in those areas depress this value . . . because they no longer correspond to the changed circumstances. . . .
Aug. 22—In the wealthiest country on the planet, too many people still lack access to housing. The pandemic revealed the full extent of the U.S. housing crisis. Where were the roughly 580,000 ...
In the 19th century, housing development in the United States was characterized by rapid urban growth in economically productive places. [12] Throughout the 20th century, however, a number of regulations that were designed to block in-fill and direct greenfield development took hold, such as exclusionary zoning .
Shane’s home state of Colorado is at the epicenter of this crisis, with a shortfall of 101,000 housing units, according to housing research firm Up for Growth. “Logic is there’s a housing ...
Hedonic adaptation is an event or mechanism that reduces the affective impact of substantial emotional events. Generally, hedonic adaptation involves a happiness "set point", whereby humans generally maintain a constant level of happiness throughout their lives, despite events that occur in their environment.
The U.S. housing market has been so hot for so long that it’s easy to forget it can’t stay that way forever. At some point, home prices will have to stabilize or head lower — at least ...
Housing, Theory and Society is a quarterly peer-reviewed academic journal covering the fields of housing studies, social theory and social policy. The editor-in-chief is Hannu Ruonavaara (University of Turku) and it is published by Routledge. It was established in 1984 as Scandinavian Housing and Planning Research, obtaining its current name in ...