A Study On House Preferences And Consuming Behaviors Of Shanghai Urban Citizens

The study on house preferences of Shanghai urban citizens shows that they consider both consuming factors and investment factors while buying houses. As far as consuming factors are concerned, they think much of price, but think little of brand and security factors. Besides, their preferences are different when buying high-class houses from preferences when buying low-class houses. As far as investment factors are concerned, they also present their own character. They do consider this kind of investment factor; however, seldom of them will buy a house only to invest on it.The study on house consuming behaviors of Shanghai urban citizens shows that both rational and irrational factors are embodied in their behaviors. They react rationally to price, income and changes of other products, but their behaviors are also influenced by psychological factors. Due to the existence of cognizing bias, emotional impulsion and herd effect, their behaviors also include some irrational factors. Therefore, the approach of behavioral economics is an important complement to traditional microeconomics.