Behavioral Biases and Information Quality in Real Estate Investment Decision-Making: Implications for Emerging Markets
Year: 2026
Type: preprint
Abstract: Real estate investors decide under uncertainty, with heterogeneous assets and uneven access to comparable prices and property information. This paper synthesises research on anchoring, herding and loss aversion alongside information quality and asymmetry, focusing on emerging markets and Egypt. Existing evidence already includes a test of information asymmetry as a moderator of cognitive-bias effects, with risk perception as mediator, as well as transaction and disclosure studies linking information differences to prices and participation. The themes have therefore been examined jointly in part. The narrower gap is the fragmented measurement across self-reported behavioral models, transaction studies and transparency research: few studies directly test whether verifiable disclosure attributes condition anchoring or social influence and improve valuation calibration in emerging markets. Egyptian evidence is preliminary and does not test this interaction. The paper proposes a framework and research design that distinguish established findings from propositions.
Author: Farg, Loay Ahmed Ebrahim Mostafa
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W7224439912