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Symposium on Bubbles

Symposium on Bubbles Abstract The papers in this symposium represent the divergent views of economists on an important issue: the extent to which prices of assets represent “fundamental” values. While the papers in the symposium present different formal definitions of what a bubble is, the basic intuition is straightforward: if the reason that the price is high today is only because investors believe that the selling price will be high tomorrow—when “fundamental” factors do not seem to justify such a price—then a bubble exists. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Economic Perspectives American Economic Association

Symposium on Bubbles

Stiglitz, Joseph E
Journal of Economic Perspectives , Volume 4 (2) – May 1, 1990
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Publisher
American Economic Association
Copyright
Copyright © 1990 by the American Economic Association
Subject
Symposium
ISSN
0895-3309
DOI
10.1257/jep.4.2.13
Publisher site
See Article on Publisher Site

Abstract

Abstract The papers in this symposium represent the divergent views of economists on an important issue: the extent to which prices of assets represent “fundamental” values. While the papers in the symposium present different formal definitions of what a bubble is, the basic intuition is straightforward: if the reason that the price is high today is only because investors believe that the selling price will be high tomorrow—when “fundamental” factors do not seem to justify such a price—then a bubble exists.

Journal

Journal of Economic Perspectives – American Economic Association

Published: May 1, 1990

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