The Ex Ante Likelihood of Bubbles | PERPUSTAKAAN UNIVERSITAS KATOLIK PARAHYANGAN

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The Ex Ante Likelihood of Bubbles

Chinco, Alex - Nama Orang;

The limits of arbitrage explain how a speculative bubble is sustained; they do not explain how likely one is to occur. To do that, you need a theory about the thing that sporadically causes arbitrageur constraints to bind. I propose a first such theory, which is based on social interactions between speculators. The theory says that bubbles should be more likely in assets where increases in past returns make excited-speculators relatively more persuasive to their peers. I empirically verify this ex ante prediction about bubble likelihoods and show that it is robust to some ex post disagreement about bubble definitions.

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Barcode		Tipe Koleksi	Nomor Panggil	Lokasi	Status
art144893	null	Artikel		Gdg9-Lt3	Tersedia namun tidak untuk dipinjamkan - No Loan

Informasi Detail

Judul Seri: MANAGEMENT SCIENCE; Vol.69 No.2 February 2023
No. Panggil: -
Penerbit: : .,
Deskripsi Fisik: p. 1222-1244
Bahasa: English
ISBN/ISSN: -
Klasifikasi: NONE
Tipe Isi: -
Tipe Media: -
Tipe Pembawa: -
Edisi: -
Subjek: SOCIAL INTERACTIONS
LIMITS TO ARBITRAGE
SPECULATIVE BUBBLES
Info Detail Spesifik: https://doi.org/10.1287/mnsc.2022.4351
Pernyataan Tanggungjawab: Alex Chinco

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