Causes of the Foreclosure Crisis – Irrational or Rational Decisions?

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216224%3A14560%2F17%3A00098178" target="_blank" >RIV/00216224:14560/17:00098178 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Causes of the Foreclosure Crisis – Irrational or Rational Decisions?
Original language description
The aim of this paper is to show non-traditional approach to the causes of foreclosure crisis in 2008. Most often used story is based on idea that the crisis was result of the finance market industry where market insiders betrayed uninformed mortgage borrowers and investors. But non-traditional approach argues that borrowers and investors made decisions that were rational and logical given their ex post overly optimistic beliefs about house prices. They expected situation would have been much different than it was, but they knew theoretical risks. This can show limits of our understanding of asset price bubbles and help to design policies and help us in crisis prediction system.
Czech name
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Czech description
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Publication year
2017
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
Proceedings of the 14th International Scientific Conference Part 1
ISBN
9788021086098
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
76-81
Publisher name
ESF MU
Place of publication
Brno
Event location
Brno
Event date
Jan 1, 2017
Type of event by nationality
WRD - Celosvětová akce
UT code for WoS article
000418110700009

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