Behavioural insights into housing relocation decisions: the effects of the Beijing Olympics
Date
2015-01-30
Authors
Wang, Mei
Bao, Helen X.H.
Lin, Pin-te
Journal Title
Journal ISSN
Volume Title
Publisher
Elsevier
Abstract
This article examines the impact of mega events on Beijing housing market from a behavioural
perspective. By exploring the situation surrounding the Beijing 2008 Summer Olympics, we analyse the
relationship between mega-event regeneration and expected residential relocation outcomes. Our
findings suggest that Beijing Olympic regeneration caused disadvantaged groups to anticipate relocation
to undesirable areas, as a result of improved infrastructure, public security, and urban environment.
Behavioural sciences research indicates that expectation influences decision-making by serving as a
salient reference point. Agents who perceived themselves as in a disadvantaged position or holding a
gloomy prospect of their future are more likely to end up in such a situation. This paper offers insights
into an effect of mega event regeneration projects that has been largely overlooked in the literature, i.e.,
the expected housing relocation outcomes. The research calls for government intervention and public
attention to this important behavioural aspect of mega-event effects.
Description
Keywords
Anchoring, Displacement, Gentrification, Prospect theory
Citation
Collections
Source
Habitat International
Type
Journal article