Title: Dual process of dual motives in Indonesian real estate market

Authors: Anastasia Njo 1 , I Made Narsa 2 , Andry Irwanto 2

Affiliations: 1. Faculty of Economics, Petra Christian University , Surabaya, Indonesia; 2. Department of Accounting, Airlangga University , Surabaya, Indonesia

Publisher: International Journal of Housing Markets and Analysis Emerald Insight

Abstract

Purpose

The dual process of thinking between conscious processes and unconscious processes generates a different decision. Thinking consciously produces rational decisions. However, a person's cognitive limitation makes him or her simplify complex scenarios and think implicitly the results in making decisions in heuristics or rules of thumb. This paper aims to evaluate patterns of decision-making relationships and dual motives for home purchasing by first home buyers and family life cycle in Indonesia.

Design/methodology/approach

Collecting data was done by distributing questionnaires to home buyers within three years (2013-2016). Further data were processed using ANOVA based on group of dual motives, time for buyer and family life cycle.

Findings

The results show that buyers have consumption motives in buying a residence and they behave rationally, while investors prefer to buy an apartment and tend to behave heuristics. Dual motives of time for buyers are not significant to decision model. Family life cycle is significant to decision model based on dual motives.

Originality/value

This is an unpublished dissertation study to qualify for graduation.

 

Keywords: Heuristics, Rational, Dual motives, Dual process, Family life cycle, Time for buyers

Sources: https://www.emerald.com/insight/content/doi/10.1108/IJHMA-05-2017-0049/full/html