行動的ロックイン：住宅市場における参照依存点の総合的な影響

2024年1月公表のBOEスタッフワーキングペーパー。原題は「Behavioral lock-in: aggregate implications of reference dependence in the housing market」で、著者はCristian Badarinza、Tarun Ramadorai、Juhana Siljander 、Jagdish Tripathy。以下はその要旨。We study the aggregate implications of reference dependent and loss averse preferences in the housing market. Motivated by micro evidence, we embed optimizing homeowners with these preferences into a dynamic search and matching equilibrium model with rich heterogeneity and realistic constraints. We assess the model using large and granular administrative data tracking buyers and sellers in the

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