Ayton, P orcid.org/0000-0003-2285-4608, Weiss-Cohen, L and Barson, M (2022) Magical contagion and commemorative plaques: Effects of celebrity occupancy on property values. Journal of Environmental Psychology, 79. 101723. ISSN 0272-4944
Abstract
In many places commemorative plaques are erected on buildings to serve as historical markers of notable men and women who lived in them – London has a Blue Plaque scheme for this purpose. We investigated the influence of commemorative Blue Plaques on the selling prices of London real estate. We identified properties which sold both before and after a Blue Plaque was installed indexing prices relative to the median prevailing sales prices of properties sold in the same neighborhood. Relative prices increased by 27% (US$165,000 as of July 2020) after a Blue Plaque was installed but not in a control set of properties without Blue Plaques, sold both before and after a Blue Plaque was installed in close proximity. We discuss these findings in relation to the theory of magical contagion and claims from previous research suggesting that people are less likely to acknowledge magical effects when decisions involve money.
Metadata
Item Type: | Article |
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Authors/Creators: |
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Copyright, Publisher and Additional Information: | © 2021 Elsevier Ltd. All rights reserved. This is an author produced version of an article published in Journal of Environmental Psychology. Uploaded in accordance with the publisher's self-archiving policy. |
Keywords: | Contagion; Kudos; Superstition; Affect; Intuitive evaluation |
Dates: |
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Institution: | The University of Leeds |
Academic Units: | The University of Leeds > Faculty of Business (Leeds) > Management Division (LUBS) (Leeds) > Management Division Decision Research (LUBS) |
Depositing User: | Symplectic Publications |
Date Deposited: | 24 Nov 2021 11:36 |
Last Modified: | 25 Nov 2021 01:38 |
Status: | Published |
Publisher: | Elsevier |
Identification Number: | 10.1016/j.jenvp.2021.101723 |
Open Archives Initiative ID (OAI ID): | oai:eprints.whiterose.ac.uk:180276 |
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Filename: Magical Contagion and Commemorative Plaques- Effects of Celebrity Occupancy on Property Values.pdf
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