1、7200 英文单词， 3.9 万英文字符， 11500 汉字 文献出处： Brzezicka J, Wisniewski R. Price Bubble In The Real Estate Market - Behavioral AspectsJ. Real Estate Management & Valuation, 2014, 22(1):77-90. PRICE BUBBLE IN THE REAL ESTATE MARKET - BEHAVIORAL ASPECTS Justyna Brzezicka,Radosaw Wisniewski Abstract The article p
2、ertains to the topic of speculative price bubbles which arise in the real estate market. The individual parts of the article deal with the connection between the price bubble in the American real estate market and the global economic crisis, defining the concept of a price bubble with regard to the
3、behaviors of market participants, providing a description of the environment generating price bubbles, and systematizing the reasons behind the formation of price bubbles. The analysis of behavioral aspects accompanying the existence of a price bubble is a key issue. The assumed considerations indic
4、ate that the housing price bubble could not exist in the real estate market (REM) if its formation was not accompanied by behavioral aspects. These aspects include, among others, giving in to temptations and emotions, limited rationalism, herd behavior, and seeking to make profits in a short amount
5、of time at the expense of long-term negative consequences. The nature of these deliberations is theoretical. Keywords: real estate market, price bubble, behavioral economics, behavioral aspects of the real estate market. 1. Introduction The global economy is at a time of crisis and the situation in
6、world markets is serious enough to where the crisis has quickly spread to the real sphere. It is widely known that the reason behind the current situation was the turbulence in the American real estate market (REM) and the formation of so called price bubbles. Many of the worlds financial and economic woes since 2008 began with the bursting of the biggest bubble in history. Never before had house prices risen so fast, for so long, in so many countries, (House of 2011). The formation of
