The article presents a detailed review of the literature relating to speculative price bubbles on the real estate market, in particular the typology of speculative price bubbles. The aim of the study was to synthesize the knowledge on different types of price bubbles in the international literature. A typology of price bubbles was proposed based on functional and structural criteria that account for the structure of price bubbles and the real estate market. The research methods involved critical analysis and a review of the literature with a commentary. The study proposes a novel typology of price bubbles and defines the concept of a “conversion point” which is associated with changes in the group of factors that lead to the formation of price bubbles and changes in bubble type.

Recent years have witnessed a growing interest in behavioral trends in both economic theory and practical applications. As a science with vast potential for explaining complex market behaviors, behavioral economics is drifting away from the classical model of homo oeconomicus deployed by mainstream economics. This paper discusses the significance and role of the homo oeconomicus model in light of behavioral economics. It analyzes the direction of changes affecting homo oeconomicus, examines the definition of anomalies within the context of behavioral economics and discusses the anomalous status of homo oeconomicus. The paper proposes a hypothesis that the attitude characterizing homo oeconomicus is unique and incidental. The presented interdisciplinary analysis relies on economics, behavioral economics, economic psychology, behavioral finance and the methodology of science to discuss the homo oeconomicus model. The paper reviews change trends in economics, which are largely propelled by advancements in behavioral economics. The key methodological tools deployed in this paper are theoretical analysis and a compilation of extensive research findings. The results were used to formulate new theories advocating the development of a modern approach to the homo oeconomicus model, recognizing its significance and the growing importance of behavioral economics