Ethical Choice in Real Estate: Selected Perspectives from Economics, Psychology, and Sociology

  • Larry E. Wofford
Part of the Research Issues in Real Estate book series (RIRE, volume 5)

Abstract

This chapter considers real estate ethics from the perspective of choice, or decision making, under uncertainty. The emphasis is on initiating a synthesis between economics, psychology, and sociology in order to broaden the scope of explorations of choice in real estate ethics. Starting with the generally accepted normative decision-making framework provided by rational choice theory, the study explores findings in psychology and sociology that describe how humans make decisions in the real world. Some of these findings may be useful in adding to the understanding of decision making provided by rational choice theory. It is suggested that a multidisciplinary framework, combining philosophy and science, is essential for significant progress in real estate ethics. Possible preliminary elements of such a framework are presented in the appendix.

Keywords

Decision Maker Business Ethic Real Estate Moral Judgment Policy Issue 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer Science+Business Media Dordrecht 1999

Authors and Affiliations

  • Larry E. Wofford
    • 1
  1. 1.C & L Systems CorporationTulsaUSA

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