Since the 1990s, behavioral economics has assumed an increasingly important role, particularly thanks to the contribution of the psychologists Kahneman and Tversky, authors of the first experiments aimed at formalizing the cognitive mechanisms of decision-making in an uncertain situation. The obtained results are in opposition to the principles of classical economy, in which the perfect rationality hypothesis dominates. The understanding of the human mind is an aspect that is still fraught with great complexity today, despite the fact that over the years the field of neuroscience has made great strides and technological progress has allowed a greater capacity to explore the cognitive processes of the human being. It should be emphasized that models developed within the behavioral economy do not aim to replace traditional economic models, but rather to contribute to the explanation of the human behavior inherent in an economy that classical principles ignore. These economic models have well-defined utility because they allow us to understand and predict certain events. Furthermore, introducing a cognitive approach allows a deeper understanding of both human nature and the limitations. Changes need to be assessed, not only on the psychological biases that most frequently affect real estate market decisions, such as overconfidence, over optimism and the formation of collective thinking, but also on the basis of financial instruments dealt with on the market and all those players who are not affected by the regulations in force.