Behavioural aspects of price bubbles - case of real estate

Piotr Masiukiewicz and Pawel Dec

International Journal of Sustainable Economy, 2014, vol. 6, issue 2, 189-200

Abstract: Price bubbles are created by investors and customers. An analysis of price bubbles requires especially critical identification and assessment of the impact of various factors on this phenomenon. The analyses of crises primarily examine economic reasons and macroeconomic feedback and interaction, however, they devote little space to the role of customers (investors) as subjects of a crisis, a role which can be and usually is active. The purpose of this paper is to show that the role of behavioural factors in the creation of a price bubble is important and are able to analyse their force of impact.

Keywords: behavioural factors; financial crisis; price bubbles; real estate; investors; investor role. (search for similar items in EconPapers)
Date: 2014
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