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Speculation, Trading, and Bubbles

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Speculation, Trading, and Bubbles

Autor

Jose Scheinkman

Jos A. Scheinkman offers new insight into the mystery of bubbles in financial markets. Noting some general characteristics of bubbles--such as the rise in trading volume and the coincidence between increases in supply and bubble implosions--Scheinkman offers a model, based on differences in beliefs among investors, that explains these observations.
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