Title: Behavioural aspects of price bubbles - case of real estate

Authors: Piotr Masiukiewicz; Pawel Dec

Addresses: Warsaw School of Economics, al. Niepodleg?osci 162, 02-554 Warszawa, Poland ' Warsaw School of Economics, al. Niepodleg?osci 162, 02-554 Warszawa, Poland

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.

DOI: 10.1504/IJSE.2014.060350

International Journal of Sustainable Economy, 2014 Vol.6 No.2, pp.189 - 200

Received: 02 Jul 2013
Accepted: 01 Oct 2013
Published online: 17 Jun 2014 *

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