- May 1, 2019: Vol. 31, Number 5

To read this full article you need to be subscribed to Institutional Real Estate Americas

Pointing the way: Using behavioral science to generate value for real estate developments, communities and cities

by Anne Charon and Heber Delgado-Medrano

Are you more likely to drive or walk on a rainy day? Do you interact more with your neighbors if you live in an apartment or a stand-alone house? Both of these considerations are a testament to how our environment affects our behavior to such an extent that our choices are often not driven by our preferences or intentions, but by our surroundings.

Sometimes we notice our behavior shifting. We stop using shared bikes because it is hard to find a place to park them, for example. Other times we don’t — such as when we unconsciously take the elevator at work without even considering taking the stairs, simply because the elevator is right in front of us.

Behavioral features that affect our choices are everywhere, and harnessing their power can have a strong impact on enhancing the overall value of real estate projects and cities. Cities today are facing tremendous challenges — from improving affordability and quality of life, to reducing energy use — and the cities

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.